Mumbai: National Stock Exchange (NSE) of India announced a collaboration with Sequel Logistics for the creation and vaulting of Electronic Gold Receipts (EGRs), marking the launch with a ceremonial bell-ringing event.

The partnership was formally marked on Wednesday with a ceremonial bell-ringing to commemorate the commencement of EGR trading on NSE and the joint commitment of both institutions to build a robust EGR ecosystem in India.

Sequel Logistics currently operates a network of 23 vaults across the country, at which investors and market participants will be able to create and extinguish EGRs.

The vaulting network forms a critical part of the EGR value chain, ensuring secure storage of the underlying physical gold backing every Electronic Gold Receipt issued on the Exchange.