The Budapest Stock Exchange will launch trading in gold futures beginning April 20, CEO Zsolt Horvath announced. The contracts, which will include physical delivery, will be for 1kg of gold; the sale and delivery unit will be US dollars per ounce. BSE still needs the approval of the financial market watchdog PSzAF as well as some other accreditations for quality control.
In terms of tax regulations, this market offers lucrative conditions with no tax on capital gains from sales of gold, while gold trading companies pay just half of the regular corporate tax. Horvath added that BSE currently mulls the introduction of trading with emissions credits as well as electricity on top of the earlier planned, but still not introduced, trading in crude futures.