RBI Update – Reporting Platform for transactions undertaken to hedge price risk of gold

It has been decided to mandate reporting of transactions in gold derivatives undertaken by banks and their customers / constituents as under:

1. Banks shall report all over-the-counter (OTC) transactions in gold derivatives undertaken by them in terms of the aforesaid regulations in domestic markets, International Financial Services Centre (IFSC) and outside India to the trade repository (TR) of Clearing Corporation of India Ltd. (CCIL) with effect from February 01, 2025.
2. Banks shall report all OTC transactions in gold derivatives undertaken in terms of the aforesaid regulations by their eligible customers / constituents in domestic markets and IFSC to the TR with effect from February 01, 2025.
3. Banks shall report all the aforesaid transactions undertaken by them or their eligible customers / constituents to the TR before 12:00 noon of the following business day.
4. Banks shall report all amendments and unwinding of the transactions undertaken in accordance with the aforesaid regulations to the TR.
5. The reporting formats shall be as indicated by CCIL with the prior approval of the Reserve Bank.

As a one-time measure, to ensure completeness of data, banks shall report all matured and outstanding OTC transactions in gold derivatives undertaken in terms of the aforesaid regulations by them in the domestic markets, IFSC and outside India and transactions undertaken by their eligible customers / constituents in domestic markets and IFSC from April 15, 2024 to the TR by February 28, 2025.Link – https://www.rbi.org.in/Scripts/NotificationUser.aspx?Id=12757&Mode=0