Varun Broking IFSC Limited

NSE-IFSC Limited (NSE International Exchange), subsidiary of NSE, has been launched to grow the financial market as well as expected to bring capital into India. NSE IFSC Limited launched trading on June 5th, 2017, offers longer trading hours in various products including in Index Derivatives, Stock Derivatives, Currency Derivatives, Commodity Derivatives and Debt Securities. Stock exchanges operating in the GIFT IFSC permitted to offer trading in securities in any currency other than the Indian rupee. They provide competitive advantage in terms of tax structure and supportive regulatory framework that is comparable with any other global financial centres.

Less

India's gold market is one of the largest in the world and holds an important position in the global bullion market. Giving a major boost to India’s aspiration of having its own International Bullion Exchange and paving the way for India to play a larger role in the global bullion market, India International Bullion Exchange IFSC Limited (IIBX) was launched by the Honourable Prime Minister of India, Shri Narendra Modi on 29th of July 2022. IIBX is promoted by India’s leading market infrastructure institutions like NSE, INDIA INX (subsidiary of BSE), NSDL, CDSL and MCX. IIBX is established at GIFT IFSC, Gandhinagar, Gujarat, India. IIBX is regulated by International Financial Services Centres Authority (IFSCA) (https://www.ifsca.gov.in). IIBX has been conceptualised to provide a gateway to import bullion into India and provide world class bullion exchange ecosystem to promote bullion trading, investment in bullion financial products and vaulting facilities in IFSCs. IIBX enables trading in bullion which adhere to OECD Due Diligence Guidance for Responsible Supply chain of Minerals from Conflict Affected and High-Risk Areas for establishing supply chain integrity. For the first time, an Indian resident Jeweller (Qualified Jeweller - QJ) can import bullion directly into India through IIBX by being a Client or a Limited Purpose Trading Member of IIBX. Top bullion dealers and jewellers of India have been onboarded by IIBX with many more applications in the pipeline. Bullion is kept in the vaults authorised by International Financial Services Centres Authority (IFSCA) and empanelled by India International Depository IFSC Limited (IIDI). Bullion on IIBX is traded in the form of Bullion Depository Receipts (BDRs). Demat account is required to be opened with the IIDI where BDRs will be credited. The global bullion banks, bullion refiners and bullion traders through IIBX, can directly access the bullion buyers in India via IIBX. GIFT IFSC area offers convenience to re-export the Bullion as and when required by bullion suppliers without payment of customs duty. T+0 contracts are currently available for 995 1kg (LBMA & UAEGD) and 999 100 gm (LBMA) with plans to enhance the product suite going forward. IIBX proposes to launch Repo products, Gold metal loan and lease products and introduce Silver shortly.