BSE's India INX reaches record high intraday

India's first international exchange, BSE' India INX reached a record high of USD 132 million intra-day on Wednesday.

The Sensex 50 Index futures witnessed a robust activity contributing trading volume worth USD 87 million so far here today.

The exchange located at the International Financial Service Centre (IFSC) of GIFT City, operates 22 hours a day, opening with the Japanese financial markets and closing with Chicago's.

Speaking about the development, MD& CEO of India INX, V.Balasubramaniam said "We have seen a significant improvement in trading volumes since we began operations in January 2017. We are expecting to launch more products to cater to our investors the world over. We are optimistic that trading volumes will rise further going forward."

In January 2017, the BSE Ltd initiated the trading activity at India INX, giving a platform for trading in international securities for corporate and institutions from India.

Earlier in January, Prime Minister Narendra Modi highlighted the criticism that a lot of trading in Indian financial instruments is taking place abroad.

"GIFT City will be able to mitigate such criticism," he asserted while at the inaugural ceremony of India INX.

In another development, Securities and Exchange Board of India in a circular on Tuesday amended the definition of "issuer" for securities to be issued at the International Financial Service Centre.

It allowed multilateral and statutory organisations in foreign jurisdiction to issue securities in the International Financial Services Centre (IFSC) in India, provided such organization is permitted to issue securities as per its constitution.