ADEX Launches e-GOLD

Asian Derivative Exchange (ADEX) Ltd Launched ‘e-GOLD’, a derivative product for gold trade amidst a programme held on Saturday, August 3. The company has introduced the product to Nepali derivative investors for professional investment in gold, stated President and managing director of ADEX, Bijesh Shrestha. This will also be a great opportunity for gold investors who want to manage investments with good returns, according to Shrestha.

 

According to the company, an investor can invest in a minimum of 10gm of gold to a maximum of 500gm. Similarly, while investing in this product, an investor will have to make a down payment of 50 per cent of the prevailing price of the day. The market price of gold traded will be as per the price quoted by Nepal Gold and Silver Dealers’ Association for that day. The association has been fixing the price of gold once a day every morning 10 a.m. basing it on the international market rate. According to the company, after investing in ‘e-GOLD’, an investor cannot buy or sell at least for a year. And if an investor wants to trade before the lock-in period, s/he will have to pay a penalty of 1 per cent.

 

The company is targeting to sell 3kg of gold in the first phase of the launch. The brokerage commission for 10gm to 150 gm of gold is 0.80 per cent; 0.65 per cent for 151gm to 300gm and 0.50 per cent for 301gm to 500gm, as stated by company. ADEX had started futures trading since July 2013.

 

ICS, Nepal Delivers Technology to AHCX, Malawi

AHL Commodities Exchange Ltd (AHCX), Malawi’s first commodity exchange has successfully started live operations from August 6 in Malawi using exchange technology provided by Inter Continental Systems (ICS), Nepal. AHCX is a newly formed commodity exchange in Malawi with the primary objective of providing efficient market place for different kinds of agricultural commodities, with motto of betterment of Malawian agricultural economy and ecosystem. 

 

ICS delivered seamless technology solutions to AHCX for their Electronic Warehouse & Collateral Management System, Client & Membership Management System, Quality Grading & Certification, Trading Operations System, Risk Management & Surveillance System, Clearing & Settlement System and Market Information System 

 

On an occasion, Santosh Pradhan, CEO, ICS, stated selection by AHCX fully illustrates the breadth of ICSs’ capabilities with the provision of exchange, trading, & risk management technology. 

 

Similarly, ERD Matabwa, Chairman, AHCX Board, opined that AHCX selected ICS after a thorough and extensive bid review of many vendors on the market. ICS demonstrated its capability to deliver the solution to their utmost satisfaction.