GANDHINAGAR: Prime Minister Narendra Modi inaugurated India's first international exchange-India INX- on Monday at International Financial Services Centre (IFSC) in Gujarat International Financial Tech City (GIFT) located in Gandhinagar.India International Exchange (INX), the wholly-owned subsidiary of the Bombay Stock Exchange (BSE), through its global bourse, will start trading initially in equity derivatives, currency derivatives, commodity derivatives including Index and Stocks. Subsequently, depository receipts and bonds would be offered once the required infrastructure for the same is in place. "The exchange will create new standards in quality of service and speed of transactions in different time zones," Prime Minister Modi said while opening the global exchange. "I have been told that the international exchange would work for 22 hours a day. "My vision is that GIFT City should become a price setter in several financial instruments" he said.Although the international exchange was inaugurated on January 9, the trading operations are scheduled to begin on January 16.

Source: Times of India January 09, 2017 14:49 UTC