Description
NSE removes additional delivery centers (Delhi, Mumbai, Chennai) for Gold and Silver derivatives, making only the base delivery center applicable from February/March 2026 contracts onwards.
Summary
NSE has revised the ‘Additional Delivery Centers’ parameter for Bullion derivatives by removing Delhi, Mumbai, and Chennai as additional delivery locations. This change affects Gold Futures, Gold Mini Futures, Silver Futures, and Silver Options on Goods contracts. The revision will be applicable from February 3, 2026, with implementation varying by contract type.
Key Points
- Additional delivery centers (Delhi, Mumbai & Chennai) are being removed for all bullion derivatives
- Revised parameter shows ‘NIL’ for additional delivery centers
- Affects four contract types: Gold Futures, Gold Mini Futures, Silver Futures, and Silver Options on Goods
- Change is effective from February 3, 2026
- Implementation timeline varies by contract type
Regulatory Changes
NSE is revising the delivery infrastructure for bullion derivatives by eliminating additional delivery centers. Members will no longer have the option to use Delhi, Mumbai, or Chennai as alternate delivery locations beyond the base delivery center.
Compliance Requirements
- Members must note the removal of additional delivery centers
- Delivery arrangements must be adjusted to accommodate the revised delivery center structure
- Members should update their operational procedures for bullion derivatives deliveries
- This circular partially modifies NCL consolidated circular NCL/COM/67788 dated April 30, 2025
Important Dates
- Circular Date: January 23, 2026
- Effective Date: February 3, 2026
- Gold Futures: Applicable from March 2026 contracts onwards
- Gold Mini Futures: Applicable from March 2026 contracts onwards
- Silver Futures: Applicable from March 2026 contracts onwards
- Silver Options on Goods: Applicable from February 2026 contracts onwards
Impact Assessment
Operational Impact: Members who previously utilized the flexibility of multiple delivery centers (Delhi, Mumbai, Chennai) will need to adjust their delivery logistics. This may result in increased transportation costs or operational complexity for members located near the removed delivery centers.
Market Impact: The change standardizes delivery locations but reduces flexibility for market participants. Members with operations or storage facilities in the removed cities may face additional logistics costs and time requirements for deliveries.
Compliance: Members must review and update their delivery procedures and systems to reflect the new delivery center structure before the effective date of February 3, 2026.
Impact Justification
Operational change affecting bullion derivatives delivery logistics; removes flexibility of additional delivery centers which may impact members' delivery strategies and costs