CME Signs Agreements With NSE
March saw CME enter into a cross-listing agreement with the National Stock Exchange of India. Under the terms of the contract, the CME will be able to use the NSE’s benchmark index, the S&P CNX Nifty Index, as the basis for dollar-denominated futures contracts; meanwhile, the NSE will be able to list rupee-denominated futures contracts on the Dow Jones Industrial Average.
The two exchanges also signed a memorandum of understanding that covers possible future collaboration on additional projects.
The electronic NSE is the largest exchange in India; it opened for business in the mid-1990s.
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