BSE logged the first trade on the Electronic Gold Receipt during the muhurat trading session on October 24; it was settled on T+1 day. The BSE trading platform, integrated with ICCL’s robust clearing framework, has proved beneficial for market participants. Over 100 members have been on-boarded on the newly launched EGR segment.
BSE launched two new EGR products of 995 and 999 purity during the muhurat session, and trading will be in multiples of one gram and deliveries in multiples of 10 grams and 100 grams, offering investors, jewellers and institutions new avenues to invest in gold.
Sameer Patil, Chief Business Officer, BSE, said EGRs are a safe and convenient avenue to invest in gold, and would support the bullion industry as it grows in scale.
In September, BSE received final approval from the Securities and Exchange Board of India to introduce the EGR segment on its platform.