Page 24 - Bullion world volume 4 issue 6 june 2024

Bullion World | Volume 4 | Issue 6 | June 2024

Launch of Gold Futures
In line with its ongoing efforts to diversify and enhance its offerings, IIBX is geared up to launch USD denominated
gold futures contracts in June 2024. IIBX has Technology Preparedness for the launch of Futures Trading. The
Trading, Clearing & Settlement, Risk Management, Surveillance and Collateral Management software have been
developed.

The Mock Trading in gold futures contracts is going on since October 2023.

Future Plans of IIBX for FY 2024-2025 Launch of Gold Metal Loan product
Launch of Multiple Delivery Centres To provide exporters and manufacturers of jewellers
The next vault of IIBX at Chennai, has been registered with a financial product that allows them to borrow gold
with IFSCA, the regulator and empanelled with IIDI. IIBX on loan at international lease rates, IIBX is working on
is likely to launch Chennai contracts during the month of developing the Gold Metal Loan product subject to the
June 2024. Regulatory approvals.

Launch of Silver Furures Introduction of REPO against BDR - To enable
Post launch of Gold Futures, IIBX will look forward to financial institutions and investors to use Bullion
launch USD denominated Silver Futures subject to Depository Receipts as collateral for obtaining USD
Regulatory approvals. liquidity IIBX proposes to launch REPO products
subject to regulatory approvals, allowing BDRs held in
Availability of Gold to Exporters of Jewellery depositories to be used as collateral to undertake secure
To facilitate exporters of jewellery in accessing gold, IIBX repo transactions.
shall work with the authorities to ensure that exporters of
jewellery are able to get Gold through IIBX ecosystem. Launch of Digi Gold investment products- To make
ICEGATE the electronic customs portal of India Customs gold investment more accessible and convenient through
is likely to be implemented at various Special Economic digital platforms IIBX is gearing to launch Digi Gold
Zones across the country. This will facilitate exporters of / Silver products by offering secure and transparent
jewellery to come onboard the IIBX ecosystem, thereby investment options, where investors can buy gold
ensuring a smooth supply chain, and minimizing the in electronic form and hold it in the regulated IIBX
logistical challenges associated with sourcing precious ecosystem.
metals.

Visit IIBX Website
For further information kindly reach out to IIBX through its website www.iibx.co.in.

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