BSE executes physical deliveries of gold under India Good Delivery standard
1 min read.Updated: 03 Nov 2020, 05:34 PM ISTPTI
The exchange executed delivery of gold to the tune of ₹1.5 crore in the 'options in goods' framework
Earlier, BSE used to accept only serial-numbered gold bars approved by the LBMA for the settlement of gold contracts exchanged on its commodity derivatives segment
Leading stock exchange BSE on Tuesday said it has completed physical deliveries of gold under the India Good Delivery standard in the 'options in good' contracts.
The exchange executed delivery of gold to the tune of ₹1.5 crore in the 'options in goods' framework, marking the fifth consecutive month of deliveries at it's designated vault in Ahmedabad, Gujarat, BSE said in a statement.
"The deliveries and acceptance of Indian refined gold shows the trust reposed by buyers and sellers alike on BSE led initiatives. This will facilitate increased participation and widen the array of acceptable gold provided by members for delivery of bullion on commodity derivatives segment of BSE," the exchange's Chief Business Officer Sameer Patil said.
BSE said its seamless trading platform, integrated with a robust delivery framework for 'options in goods' contracts have proved extremely beneficial and cost efficient for jewellers, bullion dealers, and other physical market participants.
It empowers them to not only hedge their price risk but also avail delivery on expiry of the contract.
This story has been published from a wire agency feed without modifications to the text.