Thread by @finthusiasts

Key takeaways from IEX Q3FY21 Concall transcripts
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#IEX #platform

@safiranand @Investor_Mohit @drprashantmish6 @mukul3762 @tycoonmindset05 @Rishikesh_ADX @nid_rockz @MarketScientist @StocksResearch @ishmohit1 @hiddengemsindia @TraderHarneet @Atulsingh_asan

👉 Introduced 2 new contracts to the Green Market - Daily & Weekly Contracts
👉 Signed a licensing agreement with MCX to launch electricity derivatives market using IEX clearing price, revenue sharing agreement with transaction based fees. Pending regulatory and govt approvals

👉 IGX (Gas exchange) secured authorisation from PNGRB as first regulated gas exchange of India
👉 Divested stake of 5% each to Adani Total Gas and Torrent Gas and in discussion with further strategic partners.

👉 Electricity market has seen 7% YoY growth in demand. Consumer sentiments reviving back as Manufacturing PMI is around 57-58 in dec quarter compared to 30-35 in March.
👉 Volume surged by 62% whereas revenue 38% YoY.

👉 Electricity demand expected to grow by 8-9% in line with GDP growth in FY22.
👉 Ministry of Power introduced a draft proposal enabling distribution utilities to exit from PPA after completion of the term. This initiative can bring more participants on exchange

👉 PNGRB also notified final regulations reg access code of CGD entities post exclusivity period of 20% of pipeline to be available for open access.
👉 Company working to get enablers in place for gas exchange may take this year to be ready. Gas market opportunity size is bigger

compared to electricity market owning to involvement of private players who are price sensitive.
👉 Mgt in direct conversations with generators and DISCOMS for GTAM to keep 20-30% of their capacity open for sale to get higher clearing price compared to what they get via bidding.

👉 because of better price discovery, high liquidity volume of bilateral transactions is reducing and coming partially to exchanges because of competitive prices and non-binding agreements.
👉 Cross border trading discussions in place with GoI, some traction expected in Q4.