There will be new exchange introduce to trade EGR ? Or it will be available on NSE ?
Is there any information available about launch date ?
The consultation paper has sought public opinion about this matter -
6. Single Exchange or Multiple Exchanges
6.1. Background:
6.1.1. SEBI, in October 2018, allowed “Universal Exchange” wherein stock exchanges were allowed to deal in both equities and commodities which allowed for greater and efficient utilization of existing infrastructure and resources of securities market. Extending the same logic, the existing stock exchanges may be allowed to deal in EGR either through a separate segment or as a new asset class in existing segment.
6.1.2. Setting up a new stock exchange exclusively for EGR has advantages such as single Good Delivery Standard, reduced market fragmentation, improved liquidity, single reference price etc. However, it will be time consuming, will require fresh investments in setting up new stock exchange, clearing corporations, will require fresh registration of members of stock exchanges, will increase compliance cost and may not be viable being based on a single product i.e., gold available for trading.
6.2. Views/comments sought on:
6.2.1. Whether there should be new exchange or existing stock exchanges be allowed to deal in EGR?
6.2.2. If existing stock exchanges are allowed to deal in EGR, whether the contract should be launched in a new segment or allowed to be added as new asset class in existing segment?
1 Like