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Qualified Suppliers

Any entity who wants to supply bullion on IIBX and who being a body Corporate, i.e. a company, or a Limited Liability Company (LLC) or a Limited Liability Partnership (LLP), incorporated as per the applicable laws in the home jurisdiction shall be eligible to apply to become a designated “Qualified Supplier” (QS) on IIBX subject to submitting requisite documentation including Know Your Bullion Depositor (KYBD) form.
  • A Qualified Supplier can either participate as a Bullion Trading Member by submitting the Know Your Bullion Depositor (KYBD) form. As well as Eligible units set up in the IFSC can supply bullion at IIBX, i.e., they shall be eligible to apply to become a Qualified Supplier on IIBX (as QS-IFSC), subject to compliance with various Regulations, Guidelines, Circulars, etc. issued by the IFSCA from time to time, as applicable to them and by requesting a No Objection from the IFSCA for this purpose. Bullion supplied at IIBX shall be sourced by such QS-IFSC directly from an LBMA-accredited refiner or a UAE Good Delivery – accredited refiner or an entity which is a member of at least one of the below mentioned associations/exchanges/jurisdictions,for a cumulative and contiguous period of five years:a) London Bullion Market Association (LBMA) b) CME Group (COMEX) c) Shanghai Gold Exchange International (SGEI) d) Dubai Gold & Commodities Exchange (DGCX) e) Dubai Multi Commodities Centre (DMCC) f) Borsa Istanbul (BIST) g) Or any other association / exchange as may be specified by the IFSCA from time to time. Bullion being supplied by QS-IFSC in the IIDIL empanelled Vaults for trading on the IIBX shall adhere to OECD Due Diligence Guidance for Responsible Supply Chain of Minerals from Conflict Affected and High-Risk Areas for establishing supply chain integrity.
  • Qualified Supplier can also participate as a client of a Bullion Trading Member (Qualified Supplier [QS]- Client). QS-Client shall approach a Bullion Trading Member (TM/TCM) for opening a client account by submitting the Know Your Bullion Depositor (KYBD) form to IIBX and requisite Know Your Customer (KYC) and the application forms as specified by the Bullion Trading Member and the India International Depository IFSC Limited (IIDI). QS-Client can supply bullion as well as trade in Bullion Depository Receipts (BDRs) on IIBX. QS-Client must have a minimum net worth equivalent to US$ 3 Million as per the latest audited statement.
  • Further, for the purpose of facilitating the supply of Bullion at India International Bullion Exchange (IIBX), another category of Qualified Supplier has been enabled i.e., Qualified Supplier - ‘Special Category’ Client(s). Qualified Supplier - ‘Special Category’ Client(s) can participate on IIBX without having to set up an establishment, office or a unit – as a branch or subsidiary at International Financial Services Centre (IFSC) subject to meeting the eligibility criteria. Qualified Supplier - ‘Special Category’ Client(s) can only participate on the ‘sell’ side and are not allowed to buy BDRs on IIBX.



Qualified Supplier Flow