India International Exchange

What India International Exchange does

India International Exchange (IFSC) Ltd., operating as India INX, is India's first international securities exchange, established in 2016 as a wholly-owned subsidiary of BSE Limited and headquartered at GIFT City in Gandhinagar, Gujarat. The exchange operates within the International Financial Services Centre (IFSC) jurisdiction under IFSCA regulation and provides a multi-asset trading and listing platform serving foreign portfolio investors, domestic and international corporations, and member brokers.

The platform supports trading across index derivatives (Sensex Futures/Options, India 50), currency derivatives, equity derivatives (single stock futures/options), commodity derivatives (Gold and Silver), and debt securities, complemented by listing services covering equity, debt, GDRs, REITs, and InvITs including MTN programs. Technology infrastructure includes a web-based trading application, mobile trading app, real-time market data streaming, margin calculators, and multiple connectivity modes (DMA, CTCL, SMA) with an Independent Software Vendor program. Two wholly-owned subsidiaries extend the ecosystem: India ICC (clearing and settlement) and INXGA (global stocks trading platform). The exchange also integrates with BSE Star MF for mutual fund processing. At 51-100 employees with 66 issuers and 22 MTN programs totaling $89.6B in program size, India INX is a niche but structurally significant exchange serving cross-border capital flow between India and global markets.

Name

India International Exchange

Legal name

India International Exchange (IFSC) Ltd.

Website

https://indiainx.com

Company type

Private

Founded year

2016

Operating status

Operating

Headcount range

51–100 employees

Short description

India International Exchange (India INX) is a BSE-owned international stock exchange at GIFT City IFSC offering multi-asset trading and listing services in derivatives, debt, and global stocks to international investors, corporations, and member brokers under IFSCA regulation.

Ownership category

akta.pro rank

Product category

International Securities Exchange

NAICS

Securities and Commodity Exchanges (523210), Securities and Commodity Exchanges (52321), Commodity Contracts Intermediation (52316)

SIC

Security & Commodity Brokers, Dealers, Exchanges & Services (6200), Security Brokers, Dealers & Flotation Companies (6211)

akta.pro primary industry

FX Derivatives Exchanges (Currency Futures & Options) (FSAFABAC)

akta.pro secondary industry

FX Electronic Trading Platforms (Spot/Forwards/Swaps) (FSAFANAC)

Keywords

• International securities exchange
• Derivatives trading platform
• Debt securities listing
• Currency derivatives trading
• IFSC exchange services

Headquarters

HQ city

Gandhinagar

HQ country

India

HQ region

Asia

Offices1 record

Markets served

GTM type

B2B

Offering type

Services

Cost components

Technology or R&D, Personnel, Operations, Infrastructure, Marketing or Sales, Others

Revenue model

1. Trading Transaction Fees: Fees charged on futures and options trading volume and premium turnover
2. Listing Fees: Fees for debt, equity, GDR, REIT, and InvIT listings on the exchange
3. Membership Fees: Fees for member onboarding and annual membership
4. Market Data Products: Revenue from dissemination of real-time and historical market data

Pricing tiers

Go-to-market motion1 record

Distribution channels5 records

Marketing channels5 records

Core offering

India International Exchange (India INX) operates India's first international securities exchange at GIFT City IFSC, providing trading in index derivatives (Sensex futures and options), equity derivatives, currency derivatives, commodity derivatives (gold, silver), and debt securities. The exchange also offers listing services for equities, debt instruments, GDRs, REITs, and InvITs, along with clearing, settlement, risk management, and real-time market data dissemination to international investors, member brokers, and corporations seeking cross-border capital market access.

Product overview

India International Exchange (India INX) operates as a comprehensive securities exchange at GIFT City, IFSC, Gujarat, offering a multi-asset trading and listing platform. The product ecosystem consists of core derivative products (Index Derivatives including Sensex Futures/Options and India 50; Currency Derivatives including Global Currency and Rupee Derivatives; Equity Derivatives for single stocks; Commodity Derivatives including Precious Metals like Gold and Silver), debt products (Foreign Currency Bonds, Masala Bonds, Green/Social/Sustainable Bonds), and listing services (Equity, Debt, GDRs, REITs, InvITs). Technology offerings include the India INX Mobile Application and Trading Application for market access, Margin Calculator tools, and Market Data Products for real-time and historical data. Trading infrastructure supports multiple connectivity modes (DMA, CTCL, SMA) with Independent Software Vendor integration. Post-trade services cover Clearing and Settlement, Risk Management, and Segregated Nominee Account facilities. The exchange is affiliated with BSE Group and offers global stock trading through INXGA platform.

Differentiator

Problem solved

Functional benefit

Products and services

• Index Derivatives

Named customers4 records

Segments4 records

Ideal customer profiles4 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration1 record

Feature4 records

Partnerships

Three partnerships are on record, tiered core.

• Taiwan Stock ExchangecoreStrategic or Co-development PartnerStrategic MoU signed to enhance global market access and strengthen the IFSC ecosystem. Partnership aimed at cross-market collaboration and investor opportunities.
• AFRINEXcoreStrategic or Co-development PartnerStrategic MoU signed to enhance global market access and strengthen the IFSC ecosystem. African exchange collaboration for cross-border trading opportunities.
• ICSI (Institute of Company Secretaries of India)coreStrategic or Co-development PartnerStrategic MoU signed to enhance global market access and strengthen the IFSC ecosystem. Partnership to support listing ecosystem and corporate governance standards.

Scale indicators4 records

Recent moves6 records

Expansion highlights6 records

Regional players

• Multi Commodity Exchange of India (MCX): MCX is India's largest commodity derivatives exchange, focused on bullion, metals, and energy; India INX's commodity derivatives product (precious metals futures) overlaps directly with MCX, making MCX a regional peer in commodity-derivative trading for Indian and international participants.
• Dube TradePort / DGCX (Dubai Gold & Commodities Exchange): DGCX operates in the Dubai International Financial Centre as a regional derivatives venue specializing in currency, commodity, and equity derivatives for emerging-market participants; comparable as a regional international venue competing for similar EM-focused derivatives flow that could be routed to India INX.

Broad incumbents

• BSE Limited: BSE Limited is the parent company and India's oldest and largest exchange, offering equity, debt, derivatives, and SME platform across domestic markets; it is the broad incumbent whose brand, technology stack, and member network underpin India INX and with which the IFSC subsidiary shares infrastructure and governance.
• National Stock Exchange of India (NSE): NSE is India's largest exchange by volume, dominating cash equities and equity derivatives domestically; it is the broad incumbent whose IFSC unit competes with India INX and whose product set (derivatives across indices, equities, currency) is the primary benchmark for India INX's product roadmap.
• Singapore Exchange (SGX): SGX is Asia's leading multi-asset international exchange offering equity derivatives, currency derivatives, and commodity derivatives to international investors—comparable in product scope (especially currency and equity derivatives) and target customer base (global FPI flow into Asia) to India INX.
• Hong Kong Exchanges and Clearing (HKEX): HKEX operates as a broad multi-asset exchange in Asia, hosting listings and trading in equities, derivatives, and fixed income for international participants; it is an incumbent comparable to India INX's positioning as an Asia-anchored international listing and trading venue.

Emerging players

• Africa Financial Markets Exchange (AFRINEX): AFRINEX is a strategic MoU partner and an emerging pan-African exchange initiative seeking to establish cross-border securities trading infrastructure for African and global participants; emerging-player peer given shared international-exchange ambitions and complementary geographic focus.

Direct peers

• Taiwan Stock Exchange: Taiwan Stock Exchange is a strategic MoU partner of India INX, operating an emerging Asian equity exchange serving local and international investors; comparable as a same-tier emerging-market exchange pursuing international investor participation and cross-listing initiatives with India INX.
• Luxembourg Stock Exchange (LuxSE): LuxSE is the world's leading venue for international debt securities listings, including green/social/sustainable bonds; directly comparable to India INX's positioning as a debt-listing hub for cross-border issuers (MTNs, Masala bonds, GSS bonds).
• NSE IFSC: NSE IFSC is a direct competitor operating in the same GIFT City IFSC jurisdiction, offering equity derivatives, currency derivatives, and debt securities listings; with NSE's dominant Indian trading franchise behind it, it is the closest like-for-like competitor for India INX.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

• Xx.com/india_inx
• LinkedInlinkedin.com/company/india-inx

Compliance1 record

Revenue estimate

Valuation estimate

Number of profiles

Profiles1 record

Subsidiaries2 records

Funding overview

Funding rounds1 record

Investors1 record

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about India International Exchange