Overview

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 web-based platform is highly user-friendly and is accessible online and has high sociability to enable the addition of new products and functions efficiently.

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 Double-sided closed auction, the participants will 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 session.

Various types of contracts such as Day-Ahead, Daily, Weekdays, Weekly, Fortnightly and Monthly for buyers and sellers provide flexibility to participants to trade for a period from one day up to one month. There may also be customized auctions for participants going forward.

The bids are monitored securely to ensure the highest integrity and efficacy of the marketplace. The platform provides counterpart guarantee in terms of fund obligation to its members. A Member or the Client, as applicable, can transact only when it maintains the minimum requisite margins as specified under different contracts.

IGX is a neutral and transparent trading platform. It provides Standard contracts for its Members to trade. The price discovered through the platform is transparent in nature. The Market Rules and Bye laws of IGX documents the day to day operations and the rights and obligations of the trading platform and its Members to abide by. All Members and Clients trading are well informed entities.

Clearing is the process of determining the financial and delivery obligations of participants, while the discharge of such obligations is referred to as a settlement. Participants on the platform will get their financial and delivery-based Obligations details periodically. Such Obligations will have to be settled by the participants as per the settlement calendar of IGX. All the contracts will be available at active hubs identified and we offer following delivery options: Delivered transactions: IGX books the capacity after the trade. It acts as a shipper and settles imbalances with the pipeline operators and collects relevant imbalance charges from seller/buyer. Ex-hub transactions: The buyer acts as shipper and books the capacity and manages all settlements relating to pipeline access and capacity.