Indian Exchanges Sector Update - Gold Exchange Initiative Gains Momentum: ICICI Securities

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ICICI Securities Report

Securities and Exchange Board of India has released a consultation paper on proposed framework for a gold exchange in India and draft SEBI (vault managers) regulations.

In the consultation paper, SEBI has sought opinion on the modalities of operations of the exchange, registration of the vault managers (VMs) as SEBI intermediaries, and issuing regulations for the VMs.

This follows up the government decision to notify SEBI as the regulator of the entire ecosystem of the proposed gold exchange including vaulting, assaying and gold quality, and delivery standards.

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