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RE Gold 12.5 9999

Contract Specifications of Recycled Gold 12.5 kgs 9999 T+2 - GIFT City & Chennai – LBMA
Description GOLD 12.5 RE 9999 T+2
Contract Type T+2
Trading Period Exchange Business Days (Monday to Friday). Exchange Business Days exclude the Exchange Holidays declared at the beginning of Calendar Year and published on Exchange Website.
Trading Session Monday to Friday: 09:00 Hrs to 21:30 Hrs Indian Standard Time (IST).
Trading Unit 12.5 kg
Price Quote US Dollars per Troy Ounce
Minimum Order Size 12.5 kg
Maximum Order Size 500 kg
Tick Size (Minimum Price Movement for Premium) US $ 0.01
Initial Margin
  • Sellers: 100% BDR
  • Buyers: To be paid in form of Cash only Minimum 10% or 2 days VAR whichever is higher
Settlement
Delivery Logic Compulsory in BDR form in the Demat account
Delivery Unit 12.5 kg
Settlement Day(s) T+1
The buyer has the flexibility of early settlement on T+1
T+2
The final settlement will be on T+2
Quality Specifications 9999 purity,
These Gold bars should be serially numbered Gold bars supplied by LBMA approved suppliers or other suppliers as may be approved by IIBX. These Gold bars are to be submitted along with supplier’s quality certificate.
Recycled Gold Certification The Gold bars have to be submitted along with Recycled Certificate.
Settlement Mechanism Weight of the bar shall be within 10.9 kilograms (350 fine troy ounces) to 13.4 kilograms (430 fine troy ounces) and final settlement will take place accordingly as per exact weight.
BDR Pay-in Early Pay-in of BDR on T day (T- Trade Day)
Funds Settlement Pay-in The contract will provide flexibility to the buyer to provide balance funds on T+1 day or T+2 day but not later than 17:30 Hrs of T+2 day.
BDR Pay-out T+1
On receipt of funds pay-in BDR pay-out will be processed at 12:30 Hrs, 15:30 Hrs, 17:30 Hrs and 21:30 Hrs IST.
T+2
On receipt of funds pay-in BDR pay-out will be processed at 12:30 Hrs, 15:30 Hrs, and 17:30 Hrs IST.
Funds Settlement Pay-out T+1
1st Cycle - 12:30 Hrs to 14:30 Hrs IST
2nd Cycle - 15:30 Hrs to 17:30 Hrs IST
3rd Cycle - 17:30 Hrs to 19:30 Hrs IST
Final Cycle - 21:30 Hrs to 23:30 Hrs IST

T+2
1st Cycle - 12:30 Hrs to 14:30 Hrs IST
2nd Cycle - 15:30 Hrs to 17:30 Hrs IST
Final Cycle - 17:30 Hrs to 19:30 Hrs IST
Penalty Structure for Non-Payment of Funds Penalty Structure:

In case of Buyer Defaults to pay funds within T+2 days, buyer will be required to pay "Penalty Amount + Replacement Cost".

Penalty Amount: 3% of Traded Price

Replacement Cost: Difference between traded price and the last spot price on the pay-out date, if the spot price is lower than Traded Price, else this component will be zero.

Norms for apportionment of Penalty Amount:
  • 1% of penalty shall go to seller who was entitled to receive fund.
  • 1% of penalty shall be deposited in the Settlement Guarantee Fund (SGF)
  • 0.75% of penalty shall be earmarked for Consumer Education and Protection Fund (CEPF)
  • 0.25% of penalty may be retained by IIBX towards administration expenses
Delivery Vaults GIFT City, Chennai and other IFSCA approved vaults.
List of Vaults are available on the India International Depository IFSC Limited (IIDI) website - www.iidi.co.in.
Contract Specifications of Recycled Gold 12.5 kgs 9999 T+2 - GIFT City & Chennai – LBMA
Description GOLD 12.5 RE 9999 T+2
Contract Type T+2
Trading Period Exchange Business Days (Monday to Friday). Exchange Business Days exclude the Exchange Holidays declared at the beginning of Calendar Year and published on Exchange Website.
Trading Session Monday to Friday: 09:00 Hrs to 21:30 Hrs Indian Standard Time (IST).
Trading Unit 12.5 kg
Price Quote US Dollars per Troy Ounce
Minimum Order Size 12.5 kg
Maximum Order Size 500 kg
Tick Size (Minimum Price Movement for Premium) US $ 0.01
Initial Margin
  • Sellers: 100% BDR
  • Buyers: To be paid in form of Cash only Minimum 10% or 2 days VAR whichever is higher
Settlement
Delivery Logic Compulsory in BDR form in the Demat account
Delivery Unit 12.5 kg
Settlement Day(s) T+1
The buyer has the flexibility of early settlement on T+1
T+2
The final settlement will be on T+2
Quality Specifications 9999 purity,
These Gold bars should be serially numbered Gold bars supplied by LBMA approved suppliers or other suppliers as may be approved by IIBX. These Gold bars are to be submitted along with supplier’s quality certificate.
Recycled Gold Certification The Gold bars have to be submitted along with Recycled Certificate.
Settlement Mechanism Weight of the bar shall be within 10.9 kilograms (350 fine troy ounces) to 13.4 kilograms (430 fine troy ounces) and final settlement will take place accordingly as per exact weight.
BDR Pay-in Early Pay-in of BDR on T day (T- Trade Day)
Funds Settlement Pay-in The contract will provide flexibility to the buyer to provide balance funds on T+1 day or T+2 day but not later than 17:30 Hrs of T+2 day.
BDR Pay-out T+1
On receipt of funds pay-in BDR pay-out will be processed at 12:30 Hrs, 15:30 Hrs, 17:30 Hrs and 21:30 Hrs IST.
T+2
On receipt of funds pay-in BDR pay-out will be processed at 12:30 Hrs, 15:30 Hrs, and 17:30 Hrs IST.
Funds Settlement Pay-out T+1
1st Cycle - 12:30 Hrs to 14:30 Hrs IST
2nd Cycle - 15:30 Hrs to 17:30 Hrs IST
3rd Cycle - 17:30 Hrs to 19:30 Hrs IST
Final Cycle - 21:30 Hrs to 23:30 Hrs IST

T+2
1st Cycle - 12:30 Hrs to 14:30 Hrs IST
2nd Cycle - 15:30 Hrs to 17:30 Hrs IST
Final Cycle - 17:30 Hrs to 19:30 Hrs IST
Penalty Structure for Non-Payment of Funds Penalty Structure:

In case of Buyer Defaults to pay funds within T+2 days, buyer will be required to pay "Penalty Amount + Replacement Cost".

Penalty Amount: 3% of Traded Price

Replacement Cost: Difference between traded price and the last spot price on the pay-out date, if the spot price is lower than Traded Price, else this component will be zero.

Norms for apportionment of Penalty Amount:
  • 1% of penalty shall go to seller who was entitled to receive fund.
  • 1% of penalty shall be deposited in the Settlement Guarantee Fund (SGF)
  • 0.75% of penalty shall be earmarked for Consumer Education and Protection Fund (CEPF)
  • 0.25% of penalty may be retained by IIBX towards administration expenses
Delivery Vaults GIFT City, Chennai and other IFSCA approved vaults.
List of Vaults are available on the India International Depository IFSC Limited (IIDI) website - www.iidi.co.in.
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