:: The India International Exchange Limited (India INX) is India’s first international stock exchange which is under the ownership of Ministry of Finance, Government of India. It is located at the International Financial Services Centre, GIFT City in Gujarat.

It was inaugurated by Indian Prime Minister Narendra Modi on 9 January 2017. The trading operations began on 16 January 2017. It operates on EUREX T7, an advanced technology platform. India INX claims that it is the world’s fastest exchange, with a turn-around time of 4 microseconds. It operates 22 hours a day, six days a week. These timings facilitate international investors and Non-Resident Indians to trade from anywhere across the globe at their preferred time.

Operations

In early 2020, the Asian Development Bank raised $118 million from offshore rupee-linked 10-year bonds. The bonds were listed on India INX. India INX offers access to the full range of stocks and exchange-traded funds available in US markets. The daily average volume in foreign stocks in India INX during the month of January 2022 was $5,242. By May it had risen to $42,954 and to $195,139 in June 2022. During the last week of June, the daily average volume was $462,036.

Indices

India International Exchange (IFSC) Limited, also known as India INX, is a wholly-owned subsidiary of BSE (Bombay Stock Exchange) Ltd. It is India’s first international exchange located at the International Financial Services Centre (IFSC) in Gujarat International Finance Tec-City (GIFT City). India INX offers a wide range of products, including equity derivatives, currency derivatives, and commodity derivatives.

Some of the key indices that are traded on India INX are:

1. India INX 50: It is a benchmark index designed to measure the performance of the top 50 stocks listed on India INX. The index is based on free-float market capitalization and includes companies from various sectors.
2. India INX Quality 30: This index consists of the 30 top-performing companies based on quality parameters such as return on equity, earnings growth, and leverage.
3. India INX Midcap: It tracks the performance of the mid-cap segment of the Indian equity market.
4. India INX Bankex: This index includes the most liquid and large Indian banking stocks listed on India INX.
5. India INX Gold: This index tracks the performance of the gold spot price in USD per troy ounce.
6. India INX Infrastructure Index: This index includes companies that are engaged in infrastructure-related activities such as construction, engineering, and real estate development.
7. India INX Consumer Durables Index: This index tracks the performance of the consumer durables sector in India, which includes companies that produce household appliances, electronics, and other durable goods.
8. India INX IT Index: This index includes companies in the information technology sector, which is a major contributor to the Indian economy.
9. India INX Energy Index: This index tracks the performance of the energy sector in India, which includes companies involved in oil and gas exploration, refining, and distribution.
10. India INX Pharma Index: This index includes companies in the pharmaceutical sector, which is a major contributor to the Indian economy and has a significant global presence.
11. India INX Small Cap Index: This index tracks the performance of the small-cap segment of the Indian equity market.

Trading Hours

SGX NIFTY Migration to INX from SGX

SGX Nifty, which is used as an early indicator of how the Indian equity market might open at 9:15 am every day, is set to get delisted from the Singapore Exchange soon and get reborn in the form of NSE IFSC Nifty from July 3. What this means for Indian traders who use SGX Nifty as an indicator to decide positions in Indian markets every day.

The NSE IFSC Nifty can be tracked around the same time, as traded in Singapore Exchange, it was traded earlier in SGX as there was no international exchange operational in India.

References

1. Wikipedia
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