India International Exchange, the wholly owned subsidiary of Asia’s oldest bourse BSE, will remain fully functional for trading on October 19 – 20 during the upcoming festive season.
The exchange operates for 22 hours a day and covers all global markets – it opens with the Japanese markets and closes with Chicago’s. Next week will mark the beginning of Diwali festival, with India celebrating Lakshmi Pujan on October 19, and Balipratipada on October 20, India INX said in a statement.
Speaking about the decision, India INX MD & CEO V Balasubramaniam said, “This is the first Diwali season for all of us at India INX and we are excited to celebrate it with the global trading community.
“We have created this infrastructure so as to provide an uninterrupted access to international traders and give them the opportunity to react to any change across the globe through investment, hedging or arbitrage. Our main objective is to retain the economic activity within India. So, this year on Lakshmi Pujan, we will welcome global investors and enable them to conduct business as usual.”
BSE’s India INX, which was set up in January 2017, has launched a slew of products for its investors, which has resulted in a steady and encouraging rise in its volumes in recent months.
The exchange has several products in the pipeline and is hopeful of soon announcing new offerings.
In September 2017, the exchange saw a turnover of USD 769 million, up significantly from USD 10.96 million in January.