The Metropolitan Stock Exchange of India Limited (MSE), the nation’s third national level stock exchange, has announced its upcoming collaboration with London-based GMEX Group. The latter is a company that offers multi-asset exchange trading, post-trade technology and business related solutions.
GMEX and MSE’s joint endeavors are expected to bring forward new products that will affect the Indian financial markets. First, the development of new product categories, while expanding the development of existing features. Second, an increased emphasis on technological innovation. Third, the development of market infrastructure for new products and Project Finance. There may be a potential equity investment by GMEX in MSE and its subsidiary, Metropolitan Clearing Corporation of India Limited.
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CEO Responses to the Collaboration
Mr. Udai Kumar, MD and CEO of MSE: “This collaboration will support the MSE strategy and vision of delivering innovation in products and technology. The new products will enable key objectives to deepen and widen our capital markets and address the growing needs of the economy. GMEX brings proven global expertise and we are excited about the benefits from this collaboration”.
Mr. Hirander Misra, Chairman and CEO of GMEX: “We are pleased to be working in this key industry initiative with the MSEs Board and Executive Management Team who we find especially forward thinking. This approach combined with the advanced business and technology enablement that we bring to the MSE and MCCIL will facilitate new strategic opportunities not only within India but also internationally.”
MSE is a SEBI-recognized stock exchange that is licensed to operate in interest rate and equity derivatives, currency, equity cash, ETFs, and debt. GMEX Group is comprised of a few companies that offer financial market related solutions and technological services.
This week, Finance Magnates reported that GMEX Technologies will be collaborating with Codel to create a commodity trading centralized ledger.