The exchange stated in a statement that it released two new products of 995 and 999 purity during Muhurat trading on Diwali, adding that trade will be in multiples of 1 gram, with delivery in multiples of 10 grams and 100 grams.
The announcement followed the receipt of final approval from the Securities and Exchange Board of India (Sebi) for introducing EGR on its platform.
BSE acquired in-principle clearance from Sebi in February, following which the exchange conducted multiple simulated trading sessions in the test environment for its members to allow trading in EGRs.
Individual investors, as well as commercial entities throughout the value chain including importers, banks, refiners, bullion merchants, jewellery makers, and retailers, will be able to purchase and sell EGRs on the exchange.
The EGR platform will result in higher confidence in the quality of gold delivered, more efficient price discovery, and improved transaction transparency.
Making gold fungible, can help to develop a thriving gold ecosystem in India. India is the world's second-largest gold consumer, with an annual gold demand of roughly 800-900 tonnes, and it plays an essential role in global markets.
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