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National Spot Exchange Limited (NSEL) is an electronic commodity spot exchange promoted by Financial Technologies and NAFED. NSEL commenced operations in 2008 and trades over 33 commodities across 14 states of India. As part of its E-Series products, NSEL introduced dematerialized commodity trading of gold, silver and other metals to enable retail investors to invest in smaller amounts and hold the commodities electronically. The internship project provided learning about online trading, currency derivatives, NSEL and its e-Gold product which allows buying and selling of gold in demat form.
Ppt of sip
- 1. Summer Internship Project on:
- 3. National Spot Exchange Limited (NSEL) National Spot Exchange Ltd (NSEL) is a national level electronic, demutualised and transparent commodity spot market. NSEL is promoted by Financial Technologies India Ltd (FTIL) and National Agriculture Co- operative Marketing Federation of India ltd (NAFED). NSEL commenced its live operations on15th October 2008. It provides online delivery based trading in various agri-commodities ,bullions and metals across the country. More than 33 commodities are traded on NSEL Platform having delivery locations spread across 14 states.
- 4. Services offered by NSEL 1. Selling 2. Procurement 3. Warehousing 4. Investment 5. Arbitrage
- 5. E-SERIES •For the first time in India, National Spot Exchange (NSEL) has introduced E-Series products in commodities. •Retail investors can now trade and invest in commodities like they invest in equities. •It enables investors to invest their funds into commodities in smaller denominations and hold it in demat form for sale/delivery in future. •NSEL has made necessary arrangements with National Securities Depository Limited (NSDL), and Central Depository Services (India) Ltd. (CDSL) is the depository for holding commodity units in the electronic form.
- 6. Products of e-Series 1) e-Gold 2) e-Silver 3) e-Platinum 5) e-Lead 6) e-Copper 7) e-Nickel 8) e-Zinc Product Specification Contract Symbol e-Gold, e-Silver, e-Copper , e-Zinc , e-Lead and e-Nickel Trading Period Mondays – Fridays Trading Session 10:00 AM to 11:30 PM Trading unit 1 unit of e-Gold, equivalent to 1 gram of Gold ; 1unit of e-Silver, equivalent to 100 gm of Silver , 1unit of e-Copper, e- zinc, e-Lead and e-Nickel equivalent to 1KG. Settlement Cycle T+2 Delivery Logic All open positions at the end of the day (buy and sell trades) Result into compulsory delivery in demat form on T+2 day Cost of transaction Rs 10 per lakh of turnover Cost of storage nil
- 7. e-Gold NSEL launched its first product under the E-Series as E-Gold on Wednesday, the 17th March, 2010. E-Gold is a new incarnation of gold, innovated by National Spot Exchange (NSEL), which enables investors to invest their funds into gold in smaller denomination and hold it in demat form. It is available on the pan India electronic trading platform set-up by National Spot Exchange, which can be accessed through members of NSEL or their franchises. It provided an unique opportunity to buy, accumulate, hold and liquidate "Electronic Gold (E-Gold)" . Electronic Gold (E-Gold) can be converted into physical gold coin/ bar .
- 8. PARAMETERS Purchase & Sale NSEL e-GOLD Dematerialised Form GOLD ETF’s Dematerialised Form BANK(BARS/COINS) Physical Form JEWELLER Physical Form Pricing Linked to Indian Gold Prices Linked to international gold prices May differ from bank to bank May differ from jeweller to jeweller Annual Recurring Expenses(Storage,Insu rance & AMC) NIL 1-2.25% High High Market Timing 10 AM – 11:30 PM 9 AM – 3:30 PM 10 AM – 5 PM 10 AM – 7 PM Security of Asset Taken care of by Exchange Taken care of by Fund House Investor Responsible Investor Responsible Resale At transparent secondary market prices At transparent secondary market prices May not be possible At deep discounts Convenience of buying, storage and selling High - Totally Demat High - Totally Demat Low - As physical movement and transfer involved Low - As physical movement and transfer involved Comparison between investment in e-Gold and other sources of Gold investment
- 9. Online trading department trading in equity Trading in currency Trading in e-GOLD (NSEL) Marketing Department Create awareness regarding NSEL e-Gold and made people invest in e-GOLD. Did survey regarding awareness of Currency derivatives among sub-brokers.
- 10. LEARNINGS FROM SUMMER TRAINING •Learnt how to work in the corporate environment. •How to manage and work with the people of different culture and background. •Team work •Coordination •Learnt about online trading . •Learnt about a new exchange NSEL and its product e-Series
- 11. CONCLUSION We have learnt a lot from our training at Arihant capital market ltd. . We got a great exposure regarding stock market and we got to learn about a new exchange i.e NATIONA L SPOT EXCAHNGE LTD. and its product E-Series. Overall the training gave us practical knowledge.