NSE Partners with IGX to Introduce Natural Gas Derivatives

The National Stock Exchange of India (NSE) has announced a collaboration with the Indian Gas Exchange (IGX) to introduce exchange-traded derivatives based on the natural gas traded on the IGX platform.  

This initiative aims to strengthen India's domestic natural gas market by providing efficient risk management tools. 

NSE and IGX Collaboration Details 

On April 1, 2026, NSE revealed its partnership with IGX to launch Indian natural gas derivative contracts. These contracts will be based on IGX's benchmark Price Index, GIXI (Gas Index of India), and are designed to reflect domestic gas market dynamics.  

The pricing will be linked to actual trades on the IGX platform, providing a transparent and reliable risk management mechanism for stakeholders across the gas value chain. 

NSE has received approval from the Securities and Exchange Board of India (SEBI) to launch the Indian Natural Gas Futures. The launch dates for these contracts will be announced soon. 

Significance of the Collaboration 

Shri Sriram Krishnan, Chief Business Development Officer at NSE, stated that this collaboration marks a significant milestone in the development of India's gas ecosystem.  

By introducing derivatives based on IGX benchmarks, NSE aims to create robust risk management tools that are closely aligned with the domestic physical gas market. 

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Impact on the Commodity Derivatives Segment 

This collaboration reflects NSE's continued focus on expanding its commodity derivatives segment with products rooted in credible domestic benchmarks.  

The introduction of Indian Natural Gas futures is expected to enhance market efficiency, deepen liquidity, and support the growth of a transparent and competitive gas market in India. 

About NSE and IGX 

NSE, established in 1994, is the largest stock exchange in India by turnover for equity shares. It is also the world's largest derivatives exchange by trading volume for 2025.  

IGX, India's authorised gas exchange, provides a platform for natural gas trading and operates under the regulatory framework of the Petroleum and Natural Gas Regulatory Board (PNGRB). 

Conclusion 

The collaboration between NSE and IGX to launch natural gas derivatives based on the GIXI index represents a strategic move to enhance India's natural gas market. By providing efficient risk management tools, this initiative aims to support the growth of a transparent and competitive gas market in the country. 

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