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BSE has completed delivery of gold under BSE-BIS India Good Delivery Standard on its commodity derivatives platform. The exchange executed the delivery of gold and silver of over ₹1 crore in the 'Options in Goods' framework at the exchange designated vault in Ahmedabad, Gujarat.
The refined gold delivered on the exchange platform was produced by Parker Precious Metals LLP. In addition to these refineries, MD Overseas, Augmont Enterprises, and Sovereign Metals are also empanelled by BSE to deliver serial-numbered gold bars on the exchange platform.
Earlier, BSE used to accept only serial-numbered gold bars (approved by the London Bullion Market Association) for the settlement of gold contracts. The exchange executed deliveries of silver based on LBMA standards under the 'Options in Goods' segment, at the exchange designated vault at Ahmedabad.
Sameer Patil, Chief Business Officer, BSE, said the deliveries and acceptance of Indian refined gold will facilitate greater participation and widen the array of acceptable gold provided by members for delivery of Bullion on commodity derivatives segment of BSE.
BSE's 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.
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