BSE has made delivery of physical gold on maturity of December Gold mini contracts on the ‘Options in Goods’ framework.
It marks the 14th month where deliveries have taken place since the contract was launched in June 2020.
A large quantum of gold was delivered at the exchange-designated vault in Ahmedabad, Gujarat, with participation from multiple members.
BSE starts Gold mini options trading from June 1
The Gold mini ‘options in goods’ contracts delivered were based on BSE - BIS India Good Delivery Standards.
Cost-efficient platform
Sameer Patil, Chief Business Officer, BSE, said it is very encouraging that the physical market is using the BSE platform to source gold requirements, a cost-efficient mechanism and robust price discovery platform coupled with a smooth settlement framework, which fulfils the needs of BSE members.
BSE’s seamless trading platform, integrated with a robust delivery framework for ‘options in goods’ contracts. has proved beneficial and cost-efficient for jewellers, bullion dealers and other physical market participants.
BSE getting traction on gold trade
It empowers them to not only hedge their price risk but also avail delivery on expiry of the contract.
Parker Precious Metals LLP, M D Overseas, Augmont Enterprises and Sovereign Metals are empanelled by BSE to deliver serial-numbered gold bars on the exchange platform.