Only registered members can trade gold at the KRX gold market.
(Preparation for order placing) The importers and refiners on sell-side make gold deposits with the KSD and purchasers including goldsmith and gold-products manufacturers deposit cash amount equivalent to the value of gold wishing to buy with a commodity account (gold market account), before placing orders to the KRX gold market.
(Order placement) Members of KRX gold market place orders to KRX directly and individual investors submit orders through registered members (securities and futures firms).
(Order matching) The sell and buy orders are automatically matched by the trading system of KRX.
(Settlement) Payments are made by the bank account transfer and gold is delivered through the book-entry by KSD.
(Physical withdrawal) At the request of purchasers through members, KSD delivers the gold to the purchasers. Non-members such as individual investors can withdraw their gold through the members.
