India International Exchange will offer free racks space to brokers at the Data Centre of India International Exchange (IFSC) GIFT City

India International Exchange (INX), the wholly owned subsidiary of BSE and the first of its kind at IFSC, GIFT City, Gujarat plans to start operations in first half of January 2017.The Exchange has already received an in-principal approval from Securities and Exchange Board of India (SEBI) and proposes to offer a diversified portfolio of products and technology services at a cost which is far more competitive to Indian exchanges as well as other global exchanges like those in Dubai, London and Singapore.

Technology offerings at India International Exchange will facilitate co-location of members in its own Data Centre at GIFT IFSC as well as algo trading including that of High Frequency Traders (HFTs). 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.  The co-location service shall be the fastest of its kind with round trip network latency expected to be less than 10 microseconds with low latency switch.  India INX plans to offer free rack space to members who have applied to SEBI for membership approval at India International Exchange and have sought co lo services on first come first serve basis.

All of this will enable a comprehensive single segment access for currency, commodities, equities and fixed income derivatives. Further, the exchange will ensure equitable distribution of market data to all members by usage of same length cables for all members and would also offer Full order book (EOBI) multicast to all co-location members at zero cost.