The New Segments
INX: BSE has been the first to launch a new international exchange in the tax-free zone of GIFT City, Gandhinagar. The international exchange is aimed at attracting international volumes into the country. INX was set up at a cost of Rs 30 crore and was launched by Prime Minister Narendra Modi in 2017. The exchange lists foreign and Indian securities. Several brokerage houses have set up their office here. However, trading is allowed only to foreign individuals, and not Indians.
Transactions are on the rise. For instance, BSE clocked Rs 2,100 crore volumes on the bourse in a single day. Cumulative trading on the INX has reached approximately $10 billion. The INX has introduced over 50 products so far, and there are two dozen more products expected to be in the pipeline which include Indian indices as well as large global corporations.
Bond Trading Platform: The BSE bond trading platform has been instrumental in raising resources in the corporate bond market. Close to 800 companies have raised bonds from the platform in the last two years. In April-December 2017, the platform raised Rs 3.5 trillion for corporates.
BSE StAr MF: In a short span of time, BSE StAr MF has become a platform of choice of mutual fund distributors, independent financial advisors, banks and brokers. The platform has over 2,000 distributors selling over 1700 mutual funds. BSE has all the 44 mutual fund houses listed on its platform and has over 76 percent market share in distribution business.
This platform aggregates all the records of an individual in a single place. BSE StAr MF has raised over Rs 75,000 crore for mutual funds in the last year, and accounts for more than 20 percent of the mutual fund inflows till date.
BSE SME: Small companies that want to take their businesses to the capital market find it convenient to raise resources from this platform. So far, 224 companies have listed on the BSE SME platform having raised Rs 1,863.46 crore from the market. The total market capitalization has crossed Rs 22,085.33 crore. BSE has a market share of 66 percent in SME platforms. This platform earns a listing fee for BSE. However, revenues here is currently quite minuscule approximately about Rs 30 million, but over time as more companies list, this is expected to generate considerable revenues for BSE.
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