BSE's India INX daily turnover reaches Rs 3,287 cr

BSE-promoted India International Exchange (India INX) has recorded an all-time high of Rs 3,287 crore (USD 507 million) in daily turnover for its derivatives segment.

The exchange reached the milestone yesterday, India INX said in a statement.

India INX is the first international exchange from India at International Financial Services Centre (IFSC), Gujarat International Finance Tech (GIFT) City.

The exchange said it "has achieved a major milestone on March 26, 2018 when the daily trading turnover of its derivatives segment peaked at about Rs 3,287 crore (USD 506.68 million)".

The trading turnover on the India INX 32-troy ounce Gold Futures contract reached Rs 1,895 crore, constituting about 68 per cent of the turnover of the equivalent Gold Futures traded in the domestic markets.

The cumulative trading turnover has crossed the USD 26.2 billion mark driven by a substantial jump in market participation.

The cumulative trading turnover of India INX Gold Futures is USD 11.5 billion with BSE Sensex 50 index Futures contributing USD 11.6 billion and the cumulative turnover on the Sensex 50 Index Options was USD 2.5 billion.

"Futures and options contracts on the Sensex 50 and gold have gained traction with increasing market participation and membership," India INX MD and CEO Balasubramaniam V said.

The India INX Futures are available on the Sensex, Sensex 50, gold, silver, gold KG, brent crude oil, Euro dollar, British pound, Japanese yen and 107 Indian equity stocks as well as on international equities such as Apple, Microsoft, Facebook, Alphabet and JP Morgan.

Besides, Option contracts have been launched on several of these products.