Page 22 - Bullion world volume 4 issue 6 june 2024

Bullion World | Volume 4 | Issue 6 | June 2024

India International Bullion

Exchange IFSC LTD.

Mr Ashok Gautam, Managing Director & CEO, IIBX IFSC

The India International Bullion Exchange (IIBX) was
launched in 2022 as India's first international bullion
exchange, located in the Gujarat International Finance
Tec-City (GIFT City) in Gandhinagar. It represents a
significant step towards establishing India as a global
hub for bullion trading, providing a platform for efficient
price discovery and responsible sourcing of gold and
silver.

IIBX is committed towards continued improvement in
customer satisfaction through increase in efficiency and
accuracy by providing the world class technology with
ease of trade and settlement along with robust Risk
Management.

IIBX strives to become the gateway for import of Gold
and Silver in India. India has been a large consumption
and investment market for Gold and Silver. The annual
import of Gold in India is consistently at 800 tones and
Silver ranges between 5,000 to 8,000 tonnes.

On the sell side 26 overseas entities have already
registered on IIBX as Qualified Suppliers. On the buy
side over 200 entities are registered with IIBX. One of the Mr Ashok Gautam
top global metals trading house has opened a branch
in GIFT IFSC and has taken the membership as Trading
cum Self Clearing Member of IIBX. The overseas trading
entities are invited to come to IIBX and apply to become
Clients for trading, Qualified Suppliers for supplying As part of its future strategy, IIBX aims to introduce
bullion and selling through IIBX and also to set up more bullion-related financial products and services,
offices in GIFT IFSC to become Trading and/ or Clearing expanding its market offerings and attracting a broader
member of IIBX. range of participants.
Current Product Offerings at IIBX

Currently, IIBX offers total of 11 Gold and Silver T+0 contracts to its participants. IIBX has separate contracts for
LBMA and UAE Good delivery bars and grains. IIBX has the unique distinction of launching Silver grains 20 Kg
contracts.
Spot Gold Contracts Spot Silver Contracts
Gold 995 Silver Grains
Gold Mini 999 UAEGD Silver Grains
UAEGD Gold 995 UAEGDCEPA Silver Grains
UAEGD Gold 999 Silver Bar

UAEGDTRQ Gold 995 UAEGD Silver Bar
UAEGDTRQ Gold 999

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