Mumbai: National Stock Exchange of India Limited (NSE), India’s leading stock exchange, has signed a memorandum of understanding (MOU) with Alex Stewart (International) Corporation, leading global player in precious metals inspection and analysis, to help develop the existing physical settlement framework in the Indian commodities derivatives market and facilitate introduction of high quality standards for delivery of bullion bars through the exchange platform.
Mr. Ravi Varanasi, Chief Business Development Officer, NSE said, “We are excited to be associated with a globally reputed organization like Alex Stewart. The alliance is more strategic in nature to deepen the existing delivery framework to bring in more participants into the exchange eco-system. NSE will view this partnership as one of the key harbingers for the transformation it intends to bring to the development of the commodities market in India”.
Mr. Graham Stewart, Chief Executive, Alex Stewart International said, “The Alex Stewart International Group of Companies are delighted and honored to have entered into an MOU with National Stock Exchange of India (NSE). We now look forward to working closely together in future and we are determined to make this partnership a sustainable and mutually successful venture”.