Indian Gas Exchange Ltd. (IGX) is India’s first automated national gas exchange, where buyers and sellers can trade gas quickly and fairly. IGX simplifies and makes gas trading transparent.

Project Details

We partnered with Indian Gas Exchange Ltd. (IGX) to enhance their digital infrastructure, delivering a complete website overhaul and an one of its kind Trading Work Station (TWS). As India’s first automated national gas exchange, IGX facilitates transparent trading of spot and forward contracts. Our solutions support efficient price discovery while ensuring compliance with regulatory standards set by Petroleum and Natural Gas Regulatory Board (PNGRB).

Client’s Problems

IGX aimed to develop an in-house exchange platform capable of efficiently handling their daily trading operations, specifically supporting both Spot and Auction-based trading mechanisms.
The client was previously dependent on a third-party oil and gas exchange operating on the FIX protocol and aligned with the EST time zone, which created significant challenges in aligning with their core business operations and workflows.
The client wanted to enable seamless integration with external partners to automate post-trade activities; however, their existing system was a closed setup that did not support integration with third-party systems.
Client aimed to provide real-time order and market updates to enhance trading transparency, but their existing system lacked the capability to deliver such live data feeds.
The client required platform-level customizations to align with their evolving business needs, but their reliance on an external system limited flexibility and made such customizations infeasible.

Our Strategic Approach

Custom-Built Exchange Engine

Developed a proprietary in-house exchange engine tailored for IGX’s specific needs, supporting both Spot and Auction-based trade flows.

In-House Exchange Supported

An in-house exchange supported by a dedicated India-based operations team to ensure real-time support and seamless handling of all market-time requests.

Operational Control and Flexibility

The new system gave IGX full ownership and control of the exchange infrastructure, eliminating dependency on third-party providers and allowing on-the-fly changes and issue resolution directly by the in-house support team.

Seamless Trade Management

With the support team closely aligned with market operations, IGX could handle critical market time requests such as auction triggers, order modifications, Re initiation of the market or session rollovers with speed and accuracy.

Faster Issue Resolution

Technical and functional issues could be diagnosed and resolved instantly during trading hours, significantly improving reliability and trust among market participants.

Localized Customization and Governance

The in-house team enabled faster turnaround for custom requirements such as Market Watch Setup and other regulatory compliance adaptations.

Benefits

The new platform empowered the business to fulfill all customization requests raised by traders, enhancing user satisfaction and operational flexibility.
The new system seamlessly handled the existing trade load and enabled smooth data migration from the previous platform, ensuring zero downtime and uninterrupted market operations from day one.
The system was capable of seamlessly handling a daily trading volume of 1.6 lakh MMBTU, ensuring high performance and stability under load.