India INX MD and CEO V. Balasubramaniam says the record turnover reflects the increasing interest in the IFSC amongst the broking fraternity and also the efforts put in to build out the exchange ecosystem. Photo: Ramesh Pathania/Mint
Mumbai: BSE’s India International Exchange saw an all-time high turnover of over Rs2,100 crore ($319.58 million) in daily trading turnover on Friday.
This is the highest volume recorded by the exchange since inception, accounting for 70% of the total trading volumes in Gift City, India INX said in a statement. The cumulative turnover on the India INX since inception is approximately $10 billion. The exchange operates 22 hours every day—opening with the Japanese markets and closing with Chicago markets.
“This is the highest turnover the exchange has seen till date. This reflects the increasing interest in the IFSC amongst the broking fraternity and also the efforts put in to build out the exchange ecosystem,” India INX managing director and chief executive officer (CEO) V. Balasubramaniam said in the statement.
India INX went live on 16 January 2017 and is India’s first international exchange set up at Gift City. It is one of the world’s most advanced technology platforms with a turn-around time of 4 micro seconds. The exchange provides a common platform for all asset classes—equities, currencies, commodities. It is also planning to launch depository receipts and bonds once the required infrastructure is in place.