India International Exchange, the wholly owned subsidiary of BSE and the first of its kind exchange at IFSC, GIFT City, Gujarat, has been receiving tremendous response from the members at BSE. The exchange has been set up to meet the specifications of SEBI for a separate company to undertake trading business in IFSC. The company said 90 members have already applied for registration from the ministry of corporate affairs and 84 members have already got the names approved. Of these, 36 entities are incorporated in GIFT City. India INX and the India Clearing Corporation (ICC) have already set up a fully functional office, a data center and IT system at GIFT city and mock trading has started from 3 October 3. ICICI Bank, YES Bank, Kotak Mahindra Bank and IndusInd Bank have agreed to become clearing banks for India INX.
