About the Customer

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

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.

Hi-Fi Wireframes