India's First National Spot Power Exchange Goes Live

BANGALORE, INDIA--July 11, 2008--Researched by Industrial Info Resources (Sugar Land, Texas)--The Indian Energy Exchange Limited (IEX), the country's first national power exchange, went live on June 27 at the Multi Commodities Exchange of India and received bids for 13,176 megawatt-hours of power on its opening day. Power Grid Corporation of India Limited (BOM:532898) (Gurgaon, Haryana) is responsible for scheduling and transmission of electricity through regional grids that form the interstate transmission system. Financial Technologies India Limited (Mumbai) developed the IEX trading platform with NASDAQ OMX Group Incorporated (NASDAQ:NDAQ) (New York, New York). Key stakeholders of the exchange include Tata Power (BOM:500400) (Mumbai), state-owned Rural Electrification Corporation Limited (New Delhi), Reliance Energy Limited (BOM:500325) (Mumbai), Lanco Infratech Limited (BOM: 532778) (Hyderabad, Andhra Pradesh), Infrastructure Development Finance Company (BOM:532659) (Chennai, Tamil Nadu) and the Adani Group (Ahmedabad, Gujarat).