FOi - Futures and Options Intelligence

LSE cosies up to NSEThe London Stock Exchange Group has signed a letter of intent with India’s National Stock Exchange, pledging to pursue cross-listing of options on indices and other products. The two are keen to offer proxy access to one another’s core markets.The two bourses plan to explore strategic opportunities and cooperate more closely in future. The NSE has said it may license the S&P CNX Nifty 50 Index to the LSE, which will allow it to issue options and other index contracts.The letter of intent was signed in Mumbai by Xavier Rolet, chief executive of the LSE, and Chitra Ramkrishna, joint managing director of the NSE, in the presence of UK chancellor of the exchequer George Osborne, who is leading a British business delegation to Mumbai.Rolet said in a statement: “The letter...