Mumbai, June 7th, 2018: The India International Exchange (IFSC) Limited (India INX), India’s first international exchange based in the International Financial Services Centre (IFSC) at Gujarat International Finance Tec-City (GIFT City) has achieved a major milestone on June 6th 2018 when the daily trading turnover (volume) of its Derivatives segment crossed an approx. Rupees 6730.12 crores (USD 1003.90 million).
Trading volume on the BSE’s India International Exchange has been growing exponentially ever since it commenced trading activities on January 16, 2017. It’s daily trading volumes have crossed USD 400 million regularly over the last few months. The cumulative trading turnover has crossed the Rs 312311.14crores (USD 46.6 billion) mark driven by a substantial jump in market participation. This increased trading activity validates the new products and initiatives taken by India INX and reflect increasing interest in the IFSC among the broking fraternity.
India INX has maintained its leadership as the No. 1 exchange in IFSC GIFT City and accounts for overall market share of approx. 81% for Feb – May 2018. The exchange provides a common platform for all asset classes – equities, currencies, commodities. India INX is one of the world’s most advanced technology platforms with a turn-around time of 4 micro seconds and operates for 22 hours a day to allow international investors to trade from anywhere across the globe. India INX offers a diversified portfolio of products and technology services at a cost which is more competitive to Indian exchanges; as well as other global exchanges like those in Hong Kong Singapore, Dubai, London and New York.
The exchange being located in IFSC, GIFT City, provides competitive advantage in terms of tax structure and supportive regulatory framework. These include benefits in security transaction tax, commodity transaction tax, dividend distribution tax and long-term capital gain tax waivers and no income tax.
Your email address will not be published. Required fields are marked *
Save my name, email, and website in this browser for the next time I comment.
Please enter an answer in digits:
Sign me up for the newsletter!
Notify me of follow-up comments by email.
Notify me of new posts by email.
2014 The Global Indian New Network (TGINN)