Sebi proposes framework for setting up gold exchange
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Synopsis
The objective behind setting up gold exchanges is for India to become a price setter rather than a price taker and to establish an India good delivery standard, akin to London Bullion Market Association (LBMA) accredited gold bars. The gold bars has to be BIS or LBMA accredited.
To establish a mechanism for vaulting and trading of the gold on recognised or new exchanges, SEBI constituted two working groups which submitted their reports to it on April 27.
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Mumbai: Retail investors, banks, FPIs and jewellers will be among the constituents allowed to trade in SEBI regulated proposed spot gold exchanges through a new instrument called Electronic Gold Receipt or EGR, which will be notified as securities and settled on a T+1 basis, as stocks are.
Technology and portfolio high grading enables U.S. shale to defy early predictions
This happy circumstance is largely due to a couple of things primarily. The first is technology making the extraction of more oil per unit of interval than even just a few years ago. And, operator high grading of their portfolios to focus almost solely on Tier I acreage. Tier I acreage, as we have discussed in the past is the low cost, high return play that works particularly well in the Permian with its stacked reservoirs.
Shale drillers have simply been making some prodigious wells in the last couple of years, and this increase in the Productivity Index-PI has made itself known. As an example I would cite Devon Energy s, (NYSE:DVN) recent performance in its core Delaware basin area.
March 01, 2021
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National Stock Exchange of India, Multi Commodity Exchange, BSE subsidiary India INX International Exchange, National Securities Depository and Central Depository Services have signed a Memorandum of Understanding for setting up Market Infrastructure Institutions comprising International Bullion Exchange, Clearing Corporation and Depository at Gujarat International Finance Tec-City (GIFT).
This move is in line with the government’s objective to make India a price-setter in bullion trade through GIFT International Finance Service Centre.
This is in accordance with the International Financial Services Centres Authority (Bullion Exchange) Regulations, 2020 and other applicable Laws.
Last October, the Centre had notified a Bullion Spot contract and Bullion Depository receipt under the IFSCA Act, 2019. Though NSE, MCX and BSE had expressed interest to set up a bullion exchange separately, the newly appointed regulator the International Financial Services Centre Au