NSE completes delivery in gold mini options contract

Leading stock exchange NSE said it has completed the delivery of 24.5 kg gold (100 gram) bars in its gold mini options contract.

The delivery was executed between East India Securities Ltd and Senco Gold Ltd, the exchange said in a statement.

As another step towards market development, NSE also aligned its gold mini options expiry with its futures expiry with effect from November 2021, and in its first revised expiry it has seen an interest in market participants resulting in this delivery quantity.

The options on goods contract has been gaining consistent traction from physical as well as financial players.

The options on goods are proving to be very cost-effective for hedging for all market participants.

NSE said it has become the first exchange in India to introduce NSE Refiner Standards (NRS) for gold bars conforming to BIS Standards, thereby enabling the gold bars produced by domestic refiners to be deliverable on the exchange platform, as well as making available the international live gold spot price “XAU” in rupee terms on NSE trading screens.

Courtesy: Financial Express