Leading stock exchange BSE on Monday said it has received the final approval from the capital markets regulator Sebi for introducing the Electronic Gold Receipt (EGR) on its platform.
This comes after the BSE received in-principle approval from the Securities and Exchange Board of India (Sebi) in February, after which the exchange conducted several mock trading sessions in the test environment for its members to facilitate trading in EGRs.
EGRs will cater to all market participants, which means that buyers and sellers on the exchange will include individual investors, as well as commercial participants along the value chain like importers, banks, refiners, bullion traders, jewellery manufacturers, and retailers, BSE said in a statement.
“We are extremely thankful to Sebi for giving us the final approval and confidence that we will be able to launch the trading in EGR soon, as gold holds special significance for Indian households,” Sameer Patil, CBO at BSE, said.
The EGR platform wi
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