India INX launches gold, silver futures in dollar by admin- Thursday, August 27th, 2020 07:30:03 AM
India International Exchange, a subsidiary of the BSE running out of GIFT IFSC, will launch futures buying and selling in Gold Quanto and Silver Quanto from Monday.
The underlying property for Gold Quanto futures is Indian Gold spot purity 995 and for Silver Quanto futures is Indian Silver spot purity 999.
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The citation for Gold Quanto futures, quoted in US dollar, might be Indian gold price quoted in step with 10 grams and for Silver Quanto, Indian silver price quoted in keeping with kg.
Both Quanto futures contracts may be settled in cash in US dollar. In phrases of final settlement price, both contracts may be settled at IBJA PM Fix on the expiry day rounded off to the nearest tick. Trading will be from Monday to Friday, from 4.30 am to 5 pm (consultation 1) and from five pm to 2.30 am (consultation 2).