CS Professional · IFSCA - Regulations, Listing and Compliances · India International Bullion Exchange (IIBX)
Aarav Jewellers, an Indian jewellery manufacturer, wants to import gold through GIFT IFSC. It asks which entity operates the platform on which bullion is traded and for which recognition is granted under the IFSCA bullion framework. Which is correct?
The platform is the India International Bullion Exchange in GIFT IFSC, which IFSCA regulates as a recognised bullion exchange. Bullion trading and related depository receipts take place there, unlike on domestic stock or commodity exchanges, which do not serve this IFSC bullion framework.
- AIndia International Bullion Exchange, a recognised bullion exchange in GIFT IFSCCorrect
- BNational Stock Exchange of India Limited, Mumbai main board
- CMulti Commodity Exchange, Mumbai spot segment
- DA domestic bank branch in Mumbai acting as the nodal agency
Explanation
IIBX is the bullion exchange established in GIFT IFSC and regulated by IFSCA. It provides the platform for trading bullion and bullion depository receipts. The other options are not the IFSC bullion exchange.
Did you get it right without looking?
One question tells you little. A timed set on India International Bullion Exchange (IIBX) shows your real accuracy, how long you take and where you lose marks.
More India International Bullion Exchange (IIBX) questions
- Meridian Clearing Ltd, an IIBX-recognised clearing corporation, notices that a Trading Member-cum-Client has failed to fund its pay-in on se…
- Bharat Bullion Ltd. wants to run the settlement of trades on IIBX, including clearing and settlement of the funds and bullion obligations ar…
- Mehta Bullion, a trading member of IIBX, buys BDRs for a client who wants to hold the metal as a receipt rather than take physical delivery …
- Vikram runs a bullion refinery in India and asks what the main purpose of establishing IIBX was. Which statement best reflects it?
- A foreign bullion dealer wants to trade on IIBX as an entity outside India. Which statement is correct about participation in the exchange?
- Arjun Metals, a trading member, has bought bullion on IIBX and the trade is due for settlement. The firm argues that since the buyer and sel…