Modi at the inauguration ceremony of the India International Exchange in Gandhinagar, January 9, 2017.
Companies from Asia, Africa and Europe should be able to raise funds from the #Indian International Exchange (INDIAINx), says #Prime Minister Narendra Modi on January 9, 2017.
“This exchange is set to be among the fastest exchanges in the world with most modern trading, clearing and settlement systems,” said Modi, adding that is in an excellent time-zone between West and East.
It can provide financial services through the day and night to the entire world, he added after launching INDIAINx.
“The exchange, I am told, will work twenty-two hours a day, starting when the Japanese markets start, and closing when US markets close,” he said.
“I am sure, this exchange will set new standards for quality of service and speed of transactions across time zones,” he said.
INDIAINx starts trading in equity, commodities, currencies and interest rate derivatives in the first phase.
Later, it will trade equity instruments of Indian and foreign companies.
“I am told Masala bonds will also be available for trading here,” he said.
The exchange is based in the International Financial Services Centre of the #Gujarat International Finance Tec—City. fii-news.com