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What Is India INX?
The first of its kind international exchange became operational in January this year and is slowly introducing new products into its portfolio.
BSE which is Asia's largest and fastest bourse has yet another feather to its cap as it is the first exchange to establish the first international trading exchange named India International Exchange or India INX. The exchange has been put up at the international financial services centre (IFSC) GIFT city Gandhinagar. The wholly owned subsidiary arm of BSE Limited began with trading activities in the January month of this year.
Know some of its attributes of the same:
The international trading exchange shall be the fastest in terms of response time offering a trading speed of 4 microseconds. This shall be better than Mumbai based BSE that offers a response time of 6 microseconds.
The wide array of products and technological services offered by India INX are better when it comes to cost factor of both domestic as well as international exchange.
The international exchange remains open for 22 hours which gets rolling at 4 am when the Japan Nikkei opens and closes at 2 am when the US markets shut down. So the trading can be done by anyone across the world using the platform.
In the first phase trading in equity, commodity and currency derivatives got a go ahead. Alsom soon. Now gold options trading has also begun. Similarly with the set up of the required infrastructure, trading in bonds and depository receipts shall also be facilitated. Also, equity of companies incorporated outside India shall also be available for trading.
To keep security of the system intact and prevent any money laundering or market manipulation activities, a robust infrastructure has been put in place.
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