BSE’S INX TURNOVER CROSSES $24 BN

Interestingly, of the total $24.2 billion turnover, $11.9 billion (49%) was achieved in just first 54 trading days of the current year

Trading turnover at BSE'S India International Exchange (India INX) has crossed $24 billion helped by an increase in investor participation and growth of its derivatives platform.

The exchange, launched on January 16, 2017, has recorded $24.2 billion in turnover in terms of value and over 1.5 million contracts in terms of volume as of March 18, the exchange said in a statement on Tuesday.

Interestingly, of the total $24.2 billion turnover, $11.9 billion (49 per cent) was achieved in the just first 54 trading days of the current year. In comparison, it took the exchange 245 trading days to witness $12.3 billion worth of trading in 2017.

"When we started India INX it was a new concept. But now we are seeing an increase in investor participation, international brokers have become active on the exchange and there is build up in liquidity of the products offered," India INX managing director and CEO Balasubramaniam V said.

The exchange is now clocking an average daily turnover of $300-350 million.

As per data provided by the exchange, the trading turnover on the INX markets had reached $10 billion in 235 trading days, but reached the same level in just last 40 trading days.

The compounded monthly growth rate of trading volume for the period between October 2017 and February 2018 was 54 per cent per month.

India INX has seen a rapid growth in derivatives segment primarily due to the increase in the exchange membership and overall market participation, he said.

The India International Exchange Futures are currently available on the Sensex, Sensex 50, gold, silver, Brent crude, euro, dollar, pound, and the yen, apart from 107 Indian equity stocks as well as international equities such as Apple, Microsoft, Facebook, Google and JP Morgan.

Option contracts have also been launched on several of these products.

The exchange has received over 100 applications for membership with more than 50 active members trading in the derivatives segment as on date.

India INX, an arm of leading bourse BSE, is the country'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.

It provides a common platform for all asset classes - equities, currencies, commodities and bonds.