IEX board approves the creation of gas exchange

New Delhi, September 19 () The Indian Energy Exchange (IEX) said Thursday that its board approved a proposal to create a subsidiary to establish an exchange for gas exchange.

The proposal was approved at the IEX board meeting on Wednesday.

The Board ... has considered and approved the incorporation of a wholly owned subsidiary in India to undertake the business of developing a gas exchange to conduct transactions, liquidate and liquidate operations in various types of gas-based contracts, including all other types/forms of energy, said a presentation of BSE.

The exchange will be established with an initial investment of up to Rs 10 million in the form of subscribed and disbursed capital, the presentation added.

IEX will provide the necessary details after the new company is formed.

IEX is the first and largest energy exchange in India that provides a nationwide automated trading platform for the physical delivery of electricity, renewable energy certificates and energy saving certificates.

The exchange allows efficient price discovery and increases the accessibility and transparency of the energy market in India, while improving the speed and efficiency of trade execution.

In August 2016, IEX received ISO certifications for quality management, information security management and environmental management. The exchange is now listed with NSE and BSE. IEX is approved and regulated by the Central Electricity Regulatory Commission and has been operating since June 27, 2008. KKS ANU