NSEL starts India`s first platinum contracts `e-Platinum`

Mumbai, April 17, 2012: For the first time in the history of the Indian commodity markets, Financial Technologies-promoted National Spot Exchange (NSEL) has launched platinum contracts in demat- e-Platinum.

With the launch of ‘e-Platinum,’ investors now have an opportunity to put their small investments in this precious metal with the convenience of buying, selling, holding and liquidating Platinum electronically. They also have the option to accumulate Platinum in smaller denominations in a daily, weekly or monthly manner through SIPs (systematic investment plan). ‘e-Platinum’ will be available in denominations as small as 1 gm, which will encourage even small investors to diversify their portfolio into this precious metal.

‘e-Platinum’ is the seventh commodity investment product in demat launched by NSEL under its ‘e-Series’ products umbrella. The other six e-Series products include e-Gold, e-Silver, e-Copper, e-Zinc, e-Lead and e-Nickel. e-Series is a unique commodity investment segment introduced by NSEL in 2010 to meet the growing demand of retails investors for diversifying their portfolios into commodities. 

The demand for Platinum has been steadily rising in India on the back of growing industrial demand and growing preference for Platinum jewellery in urban areas. Platinum demand in India is increasing by more than 20% year-on-year basis, driven by record sales by automakers, the biggest users, and also because investors have developed an appetite to invest into this rarest precious metal. India’s Platinum jewellery consumption has seen a strong growth of 45% to 50% in the past year.

Mr. Anjani Sinha, MD & CEO, NSEL, said, “e-Platinum is a unique product that is designed to make Platinum, which is the rarest of all precious metals, affordable and accessible to all. The option of physical delivery in coins or bars form in multiple locations makes this product all the more attractive for retail investors, apart from other benefits like no storage issues and ease of trading this product seamlessly on NSEL’s pan-India electronic platform.”

e-Platinum will be available to retail investors at the same price anywhere in the country with the option of physical delivery in Delhi, Mumbai, Jaipur and Hyderabad currently. More centres will be added subsequently, Mr. Sinha added.          

To read the full press release click on the attachment

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