Rajandran R Founder of Marketcalls and Co-Founder Algomojo. Full-Time Derivative Trader. Expert in Designing Trading Systems (Amibroker, Ninjatrader, Metatrader, Python, Pinescript). Trading the markets since 2006. Mentoring Traders on Trading System Designing, Market Profile, Orderflow and Trade Automation.

Top 10 Things You Need to Know about India INX – International Exchange

1 min read

The India INX or International Exchange is a wholly owned subsidiary of BSE Ltd located in GIFT City (Gujarat). The exchange was inaugurated by the Prime Minister, Narendra Modi on the eve of the 8th Vibrant Gujarat Summit.

1)The securities and products that could be traded on the India INX are: equity shares of companies incorporated outside India, depository receipts, debt securities, currency and interest rate derivatives, index based derivatives, commodity derivatives

2)International Equity Futures like Apple, Alphabet(Google), JPMorgan, Facebook, Microsot are already trading in the mock trading session. You can check out the list of trading instruments in India INX here in mock session.

3)Since it is International Exchange all the contracts are dollar denominated.

4)India INX at will be open for trading for 22 hours every day. The exchange will open for trading activity daily at 4 am when exchanges in Japan(Tokyo) open, and close at 2 am when exchanges in the US close.

5)India INX will start trading stock futures and index futures from 16th Jan 2017 onwards. Later India INX will add commodities contracts like gold, silver, copper, oil and the rupee soon.

6)During the Initial Phase only derivative products – in equity, currency and commodities will be offered. In the second phase, it shall offer depository receipts and bonds.

7)India INX portal says No STT, No CTT, No Stamp Duty, No Service Tax, No LTCG taxes, No Income Tax for Next 5 years, No Dividend Distribution Tax. And this is attractive for traders and investors and it could be incentive to bring liquidity to India INX.

8)India INX will facilitate co-location of members in its own Data Centre at GIFT IFSC. The exchange will offer the same state of the art T7 trading platform used by BSE with a speed of 6 microseconds – the fastest in the world. Round trip network latency expected to be less than 10 microseconds with low latency switch.

9)India INX and ICC(India Clearing Corporation) has also commenced mock trading from India INX data centre at GIFT City from December 17, 2016.

10)India INX have plans to invest ₹500 crore over the next 3-4 years for clearing and trading.

Rajandran R Founder of Marketcalls and Co-Founder Algomojo. Full-Time Derivative Trader. Expert in Designing Trading Systems (Amibroker, Ninjatrader, Metatrader, Python, Pinescript). Trading the markets since 2006. Mentoring Traders on Trading System Designing, Market Profile, Orderflow and Trade Automation.

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3 Replies to “Top 10 Things You Need to Know about India…”

    1. As per INX Website the following members are eligible to trade

      a person not resident in India;
      a non-resident Indian;
      a financial institution resident in India who is eligible under FEMA to invest funds offshore, to the extent of outward investment permitted;
      a person resident in India who is eligible under FEMA, to invest funds offshore, to the extent allowed under the Liberalized Remittance Scheme of Reserve Bank of India, subject to a minimum investment as specified by the Board from time to time: Provided that clients referred to in clauses (ii) to (iv) may be provided services, subject to guidelines of Reserve Bank of India.

      So the last line says Indians are eligible to invest upto LRS (Liberalized Remittance Scheme) i.e upto 2,50,000 USD or Rs1.7 Crore(approx) fixed by RBI.

  1. I have a client in Germany who is interested to open a DMAT and trading account in INX.
    1. To whom should he apply?
    2. Who are the brokers?
    3. What will be the brokerages?
    4. Is he required to have different accounts for Commodity derivatives, Currency derivatives and Equity trading?
    5. Can he keep shares of foreign companies in his DMAT maintained in INX
    6. What kind of trading terminal and chartings are available for foreigner investors.
    7. How can he withdraw his money. Where can he keep his money? Can he open a savings/ Current account linked to his trading account?
    Please reply in a way that helps to open his bank, trading and DMAT account so that he can commence trading immediately.

    Thanks
    Amar Kukreja

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