Electronic Gold Receipts as securities: creation, trading and conversion governed under a SEBI master framework ensuring vault, depository and risk controls. SEBI's Master Circular establishes EGRs as tradable securities with a three tranche lifecycle: creation by registered Vault Managers upon deposit of qualifying gold and recording in a common depository interface; continuous trading on stock exchange segments with clearing by Clearing Corporations; and conversion/extinguishment permitting withdrawal of physical gold subject to verification, reconciliation, and assayer procedures. Vault Managers and Depositories must meet specified vault, security, insurance, reconciliation, disclosure and grievance redressal obligations, while a comprehensive margins and settlement framework governs risk management and T+1 rolling settlement.
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Provisions expressly mentioned in the judgment/order text.
Electronic Gold Receipts as securities: creation, trading and conversion governed under a SEBI master framework ensuring vault, depository and risk controls.
SEBI's Master Circular establishes EGRs as tradable securities with a three tranche lifecycle: creation by registered Vault Managers upon deposit of qualifying gold and recording in a common depository interface; continuous trading on stock exchange segments with clearing by Clearing Corporations; and conversion/extinguishment permitting withdrawal of physical gold subject to verification, reconciliation, and assayer procedures. Vault Managers and Depositories must meet specified vault, security, insurance, reconciliation, disclosure and grievance redressal obligations, while a comprehensive margins and settlement framework governs risk management and T+1 rolling settlement.
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