igxlaunch.com Indian Gas Exchange IGX : Online Registration Portal Delivery Based Gas Trading

[igxlaunch.com] Indian Gas Exchange (IGX) Website : Online Registration Portal (Delivery Based Gas Trading)

Indian Gas Exchange (IGX)

Minister of Petroleum and Natural Gas & Steel Dharmendra Pradhan, on Monday, launched the Indian Gas Exchange (IGX), first nationwide online delivery-based gas trading platform for natural gas.

IGX is incorporated as a wholly-owned subsidiary of the IEX - India’s energy market platform. It will enable market participants to trade in standardised gas contracts.

Indian Gas Exchange (IGX) Portal Online Registration Form

Here is the complete process to make Indian Gas Exchange (IGX) Portal online registration:-

Step 1- Visit the Official Website of Indian Gas Exchange (IGX)  at https://www.iexindia.com/

Step 2- At the homepage, Click at the “IGX – Indian Gas Exchange an IEX Venture” image to open https://www.igxindia.com/

Step 3- Upon reaching this website, click at the “Register Now” tab as shown below:-

Step 4- IEX Indian Gas Exchange RegisterIEX Indian Gas Exchange Register
Direct Link – https://igxlaunch.com/

Step 5- Afterwards, the Indian Gas Exchange (IGX) portal online registration form will appear as shown below:-

Step 6- Indian Gas Exchange IGX Portal Online Registration FormIndian Gas Exchange IGX Portal Online Registration Form

Step 7- Here applicants can enter their name, mobile number, organization, e-mail ID, city and click at the “Submit” button to complete the IGX online registration process.

IGX Delivery Based Gas Trading Portal Launch by IEX India

The platform is fully automated with a web-based interface to provide a seamless trading experience to the customers.  During the virtual launch ceremony, Pradhan said that the launch of the new electronic trading platform for natural gas today will help the nation move towards "free-market pricing of natural gas".

IGX will play a bigger role towards realizing a free market for gas, he added, as there will be a market-driven pricing mechanism. 

Pradhan also said that Petroleum and Natural Gas Regulatory Board (PNGRB) is working on rationalization of tariff to make natural gas affordable in every part of the country.

“The government has no business to be in business and the consumer is the king in a free market," the Oil minister added. He also said that through IGX, India's vision on mega investments on Liquefied Natural Gas (LNG) terminals, gas pipelines, CGD infrastructure and permission for market-driven price mechanism will be materialized.

Indian Gas Exchange (IGX) Features

-IGX is India's first automated national level trading platform to promote and sustain an efficient and robust gas market and foster gas trading in the country.

-The platform will feature multiple buyers and sellers trading in spot and forward contracts at designated physical hubs. 

-IGX is a neutral and transparent market-place where both buyers and sellers will trade gas as the underlying commodity.

-The contracts traded at IGX are for compulsory specific physical delivery and settlement of the trade is subject to the condition that such contracts are non-transferable in nature and without any netting-off thereby.

-IGX will enable efficient and competitive discovery of gas prices

- One of its most important objectives is also to maintain market integrity

- Initially, trading is proposed to commence at the physical hubs at Hazira and Dahej in Gujarat and Oduru/Kakinada in Andhra Pradesh.

- Going forward, new hubs would be introduced

- For price discovery, the exchange will invite time scheduled bids from buyers and sellers, on which a price discovery mechanism will be run to settle delivery of gas

- It will offer six market products -- day-ahead, daily, weekly, weekdays, fortnightly and monthly

- Some of these contracts will be available on Day 1 of trading, that is June 15, while some will be introduced later

-IGX has successfully held three mock trading sessions (March 20, April 9 and May 21) with significant participation from the industry. 

-IGX technology platform provides rapid, accurate, secure and efficient trade, catering to the requirements of pre-and post-trade functionalities with the capability to handle complex orders.

-The bidding is done in an anonymous manner, where the buyer and seller do not know their counterpart. 

-The price discovery will be either through double-sided closed auction with uniform price mechanism or through continuous trade mechanisms.

- In a double-sided closed auction, the participants input their bids to buy/sell at a specific price point. 

- The market will determine one single uniform market clearing price.

- In continuous trade, the price will be matched based on bids and offers in continuous sessions.

- Reportedly, the bids will be monitored securely to ensure the highest integrity and efficacy of the marketplace. The platform also provides counterpart guarantee in terms of fund obligation to its members. 

For Official Press Release of Indian Gas Exchange as India’s first gas trading platform, click the link below:-

News Source : https://www.timesnownews.com/business-economy/markets/article/india-moves-towards-free-market-pricing-of-natural-gas-with-launch-of-first-gas-exchange/606936, https://www.zeebiz.com/india/news-indian-gas-exchange-igx-all-set-for-launch-what-you-should-know-about-natural-gas-trading-129044