Skip to content

CS Professional · IFSCA - Regulations, Listing and Compliances · India International Bullion Exchange (IIBX)

Bharat Bullion Ltd. wants to run the settlement of trades on IIBX, including clearing and settlement of the funds and bullion obligations arising from trades. Under the IFSCA framework, which entity performs this function?

A bullion clearing corporation recognised by IFSC performs clearing and settlement of exchange trades. It handles the funds and bullion obligations from IIBX trades, giving settlement assurance. Sellers, customs agencies or the RBI do not perform this role for each exchange trade.

  1. AA recognised bullion clearing corporation in IFSCCorrect
  2. BThe seller's own refinery acting alone
  3. CThe Reserve Bank of India directly for each trade
  4. DThe nominated agency for customs only

Explanation

The framework provides for a clearing corporation, recognised by IFSCA, to clear and settle trades on the bullion exchange and guarantee settlement. Customs agencies deal with duty, and individual parties do not settle their own exchange trades.

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.

Practise India International Bullion Exchange (IIBX)Free diagnostic mock

More India International Bullion Exchange (IIBX) questions