India International Exchange

India International Exchange
Type Stock Exchange
Location Gujarat International Finance Tec-City, Gandhinagar, Gujarat, India
Founded 2017
Owner Subsidiary of Bombay Stock Exchange
Key people V. Balasubramaniam (Chief Executive Officer and Managing Director)
Currency Indian rupee (INR/₹)
Website www.indiainx.com

The India International Exchange (INX) is India's first international stock exchange, opened in 2017.[1][2] It is located at the International Financial Services Centre (IFSC), GIFT City in Gujarat. It is a wholly owned subsidiary of the Bombay Stock Exchange (BSE).[3] The INX will be initially headed by V. Balasubramanian with other staff from the BSE.[3]

It was inaugurated on 9 January 2017 by Indian prime minister Narendra Modi, the trading operations were scheduled to begin on 16 January 2017. It was claimed to be the world’s most advanced technological platform with a turn-around time of 4 micro seconds which operates 22 hours a day & six days a week.[1] These timings facilitate international investors and Non-Resident Indians to trade from anywhere across the globe at their preferred timings.

Following the International trading timings, this unique stock exchange will start when trading at Japanese stock exchange starts, and will end when US stock exchange stops, from sunrise to sunset.

See also

References

  1. 1 2 "Narendra Modi inaugurates India International Exchange". India Times. Indo-Asian News Service. 9 January 2017. Retrieved 16 January 2017.
  2. ↑ "PM Narendra Modi launches India's first international stock exchange". India Today. 13 January 2017. Retrieved 16 January 2017.
  3. 1 2 Upadhyay, Jayshree P.; Maulik, Pathak (9 January 2017). "V. Balasubramanian to head India International Exchange". Live Mint. Retrieved 16 January 2017.
This article is issued from Wikipedia. The text is licensed under Creative Commons - Attribution - Sharealike. Additional terms may apply for the media files.