MUMBAI: Trading turnover at BSE's India International Exchange (India INX) has crossed USD 24 billion helped by an increase in investor participation and growth of its derivatives platform.
The exchange, launched on January 16, 2017, has recorded USD 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 today.
Interestingly, of the total USD 24.2 billion turnover, USD 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 USD 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 told PTI.
The exchange is now clocking an average daily turnover of USD 300-350 million.
As per data provided by the exchange, the trading turnover on the INX markets had reached USD 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 INX 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 microseconds.
It provides a common platform for all asset classes - equities, currencies, commodities and bonds.