The National Stock Exchange of India (NSE) will be seeking to work together with other exchanges on joint products rather than merge or acquire to drive growth, said CEO, Ravi Narain, Bloomberg reports. The NSE may launch rupee-denominated derivatives based on U.K.’s benchmark FTSE 100 Index, Standard & Poor’s 500 Index and Dow Jones Industrial Average and is seeking a Far Eastern product.
The exchange will also expand in currency and interest-rate derivatives as per the CEO. In July 2010, Goldman Sachs-backed NSE announced that it is in talks with the Tokyo Stock Exchange for companies in both countries to list shares in each other’s markets.
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