LuxSE, India INX strengthen cooperation

New Delhi: BSE's international arm India International Exchange (India INX) and Luxembourg Stock Exchange (LuxSE) on Wednesday signed a co-operation agreement through which the two bourses will enhance the visibility of listed Indian securities towards international investors by facilitating admission of such securities on LuxSE.

The agreement builds on the Memorandum of Understanding signed by the two institutions in November 2020, which placed a specific focus on advancing green finance in India, India INX said in a statement.

Today's announcement marks the next important step undertaken by the two international exchanges to bridge the gap between India and international capital markets and strengthen cross-border cooperation in sustainable finance, it added. Also, the parties announced the admission on LuxSE of a green bond issued by Power Finance Corporation.

The EUR 300 million green bond, which is already listed on India INX, is now registered on LuxSE's Securities Official List and displayed on the Luxembourg Green Exchange, the world's leading platform for sustainable securities.

Speaking at the event, Injeti Srinivas, chairman of the International Financial Services Centres Authority (IFSCA), India's financial regulator, said that the signing of this co-operation agreement between India INX and LuxSE is another step towards developing IFSC as the hub for sustainable finance.

It is expected that strong cooperation between the two exchanges will increase the investor base for the issuers listed on India INX by enhancing the visibility of such securities to international investors.

"The green corridor opportunity established with this dual listing cooperation agreement between India INX and LuxSE will go a long way in attracting more issuers from India and the region and provides access to green capital from international investors.