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Thursday, December 16, 2010

NSEL launches e-copper for retail investors

Press Trust of India / Mumbai November 17, 2010, 15:37 IST

After e-Gold and e-Silver, the National Spot Exchange (NSEL) has launched e-Copper in its portfolio of e-Series products and plans to have 20 e-Series products by end-2011.

E-Series products provide an opportunity for small investors to invest in physical commodities in smaller denominations in demat form.

This segment is similar in functionality to the cash segment in equities. The exchange plans to have 20 e-Series products by the end of 2011 to promote savings and investment in commodities, a press release issued here stated.

On the first day of its launch, e-Copper opened at Rs 466.70 per kg. It hit an intra-day high of Rs 466.90 and eventually closed at Rs 452.10.

E-Copper recorded a total traded volume of 15,30,012 kg valued at Rs 70.40-crore. Investors can trade and invest in one trading unit of e-Copper and multiples thereof.

One unit of e-Copper is equivalent to one kg of copper. The clearing and settlement pay-in and pay-out are based on T+2 settlement cycles. Physical delivery of copper is possible in the form of Grade 1 Copper Cathode, the release said. 

E-Series products are backed by physical delivery and are stored in the exchange's secured warehouses/vaults, while trading takes place in demat form. An investor can trade in these investment products after opening a demat account with any of NSEL's empanelled DPs.

NSEL's Managing Director & CEO, Anjani Sinha, said, "there is a growing demand for a cash segment in commodities from retail investors. We have received an overwhelming response to e-Gold and e-Silver."

"Launching e-Copper next was a natural choice as base metals are also treated as investment assets in most advanced nations and invariably form a part of retail and HNI portfolios.

E-Series products have been especially designed for retail investors and portfolio managers who consider commodities as an asset class and want to diversify their investment," Sinha added. 

NSEL is today present in 14 states with 29 commodities, 85 delivery centres and 194 commodities contract. 

It is a national-level institutionalised, electronic, transparent spot exchange, promoted by Financial Technologies India Limited and Nafed.

Thursday, December 2, 2010

Tuesday, November 23, 2010

iShares Silver Trust holdings climb to record high


Tue Nov 23, 2010 11:49pm GMT
SINGAPORE Nov 24 (Reuters) - The world's largest silver-backed exchange-traded fund, iShares Silver Trust , said its holdings climbed to an all-time high of 10,893.68 tonnes by Nov 23 from 10,841.98 tonnes on Nov 22.
For details of the ETF's silver holdings, click on: link.reuters.com/wux96h(Reporting by Rujun Shen; Editing by Himani Sarkar)
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