Approved Registrar and Transfer agents (R&T agents)
The Exchange specifies approved R&T agents who provide the facilities for dematerialization/re-materialization of commodities. Their functions are:
– Maintain connectivity with the approved warehouses and provide them with support with that physical infrastructure that is needed.
– Verify information vis-à-vis the commodities that is undertaken by the warehouse and assign the identification number (ISIN) allotted by the depository. With this number, the grade, validity period, warehouse location and expiry of the commodity is marked.
– Process information, and ascertain the credit of commodity held with the demat account of the constituent.
– Ensure that the credit of commodities is done only against the demat account of the constituents held with the Exchange empanelled Depository Participants.
– Arrange for issuance of authorisation to the relevant warehouse on receiving a request for re-materialization through the depository for the delivery.
– Record beneficiary position of constituents holding dematerialized commodities in warehouses and in the depository for a period and a particular date. R&T agents are required to furnish the same to the Exchange as and when demanded by the Exchange.
– Co-ordinate with DPs and warehouses for billing for services rendered on periodic intervals.
– Reconcile dematerialized commodities in the depository and physical commodities at the warehouses on periodic basis and co-ordinate with all relevant parties.
Approved assayer
The ‘approved assayers’ appointed by the exchange grades the commodities received at approved warehouses for exchange traded deliveries.. Assayers perform the following functions:
– Ensuring the availability of the grading facilities to the constituents in respect of the specific commodities traded. The assayer ensures that the grading to be done on commodities is as per compliance.
– Issue grading certificate stating the grade, validity of grade, and the time up to which the commodities are fit for trading subject to environment changes at the warehouses.
