Cumulative Trading Turnover Of BSE’s India INX Crosses $500 Billion
It was driven by a substantial jump in trading volume which has increased to over 3.7 crore contracts, the exchange said.
India International Exchange's cumulative total trading turnover has crossed $500 billion, driven by a substantial jump in trading volume which has increased to over 3.71 crore contracts, the exchange said.
The BSE's India International Exchange is country's first international exchange based in the International Financial Services Centre at Gujarat International Finance Tec-City.
India INX is the number one exchange in IFSC GIFT City with an average daily turnover of $2,290 million (Rs 16,254 crore) having an overall market share of 87 percent in IFSC for the quarter-ended September 2019, the exchange said in a release.
"The substantial increase in trading volume and open interest on the India INX derivatives segment further reinforces our leadership in the IFSC GIFT City. This is a clear indication of the effectiveness of our strategy and showcases our capability to become a leading international derivatives exchange in the years ahead.
"Further, the Reserve Bank of India's monetary policy allowing rupee derivatives to be traded in IFSC GIFT City will attract more participants to the IFSC and increase liquidity," India INX Managing Director and Chief Executive Officer Balasubramaniam V said.
India INX currently offers futures on Sensex, India50, gold, silver, brent crude oil, euro dollar, British Pound, Japanese Yen, 149 Indian single stock futures as well as international commodities such as aluminum, copper, lead, nickel and zinc.
Besides, option contracts have also been launched on several of these products, India INX said.