INX hits record daily turnover in derivatives at Rs 3,287 cr

BSE arm India International Exchange (India INX) has hit a record daily trading turnover of Rs 3,287 crore (USD 506.68 million) on its derivatives segment with transactions in gold futures contributing to 57 per cent of the total value.

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

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.

India INX, based in the International Financial Services Centre (IFSC) at Gujarat International Finance Tec-City (GIFT City), in a statement today said it daily turnover from derivatives hit a record 3,287 crore (USD 506.68 million) on March 26.

Of this, the daily trading turnover on the India INX 32-troy ounce gold futures contract reached an all-time high of Rs 1,895 crore (USD 292 million), representing 57 per cent of the value. It also represented 68 per cent of the turnover of the equivalent gold futures traded in the domestic markets on March 26.

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

Meanwhile, the cumulative trading turnover, as on March 26, has crossed the USD 26.2 billion mark driven by a substantial jump in market participation.

The cumulative trading turnover of the India INX gold futures is USD 11.5 billion with the S&P BSE Sensex 50 Index Futures contributing USD 11.6 billion. The cumulative turnover on the Sensex 50 Index Options was USD 2.5 billion.