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Introduction

On 6th February 2007, the CERC issued guidelines for grant of permission to set up power exchanges in India. Financial Technologies (India) Ltd responded by proposing then tentatively named 'Indian Power Exchange Ltd' and applied for permission to set it up and operate it within the parameters defined by CERC and other relevant authorities. Based on the oral hearing on July 10, the CERC accorded its approval vide its order dated 31st August, 2007. IEX thus moved from the conceptual level to firmer grounds. On 9th June 2008 CERC accorded approval to IEX to commence its operations and 27th June 2008 marked its presence in the history of Indian Power Sector as Indian Energy Exchange Ltd (IEX), India’s first-ever power exchange goes LIVE.
 
 
 Domain knowledge: 
  IEX's technical infrastructure, systems and processes have materialised from a synergisation of the knowledge, expertise, and experience of the companies behind it. As a promoter of IEX, Financial Technologies has leveraged its technical expertise with the commodity exchange domain knowledge and experience of its subsidiary, Multi Commodity Exchange of India Ltd (MCX), as well as the industry grasp of co-promoter PTC India Ltd and of key partners / investors including IDFC, Adani Enterprises, Reliance Energy, Lanco Infratech, Rural Electrification Corporation (REC), and Tata Power Company.