BSE launches online system for SGB, begins mock sessions

By: | Published: July 12, 2016 6:21 PM

The exchange also said it has made changes to the bidding platform to facilitate submission of multiple bids for SGB through the web-based iBBS system.

BSE would communicate the go-live date of SGB bidding platform later. (Source: Reuters)BSE would communicate the go-live date of SGB bidding platform later. (Source: Reuters)

Leading bourse BSE today said it has launched an online bidding platform for sovereign gold bonds and has begun conducting mock bidding sessions on the system.

BSE has received Reserve Bank’s approval to start an online bidding platform for sovereign gold bond (SGB) scheme.

So far, three tranches of the bonds have been issued amounting to about Rs 1,322 crore and the fourth one is expected from July 18.

“To facilitate systematic trading in SGB, India’s oldest and fastest exchange BSE, has introduced online bid collection facility for such issuance,” it said in a statement.

“It is hereby informed to all trading members that online bidding platform for SGBs is available for mock bidding on the iBBS (Internet based book building software) test environment,” it added.

The exchange also said it has made changes to the bidding platform to facilitate submission of multiple bids for SGB through the web-based iBBS system.

BSE would communicate the go-live date of SGB bidding platform later.

Sovereign Gold Bonds –- government securities denominated in grams of gold –- offer an alternative to holding gold in physical form.

The bond is issued by RBI on behalf of the government and investors can apply for the bonds at the price as disseminated by RBI.

Recently, NSE had also announced the launch of its online platform to collect bids for sovereign gold bonds.

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