The India International Financial Services Centres Authority (IFSCA) has permitted India International Bullion Exchange (IFSC) Ltd. (IIBX) to extend trading hours for spot contracts and has dispensed with net worth requirements for most classes of customers eligible to trade or invest on IIBX, alongside its recently notified IFSCA (Bullion Market Regulations), 2025 for the IFSC bullion ecosystem. Spot contract trading on IIBX will be extended by three hours to 9 AM to 9:30 PM, effective from the date IIBX issues its notification. The change is intended to allow Qualified Suppliers to place sell orders and Qualified Jewellers and valid India-UAE CEPA tariff rate quota holders to place buy orders on the same day as the creation of Bullion Depository Receipts and receipt of funds, including when these occur late in the evening, supporting more timely deployment of bullion and cash. Net worth thresholds have been removed for various customer categories other than Qualified Jewellers and Qualified Suppliers, for whom separate eligibility criteria apply, with the aim of broadening participation and lowering entry barriers, including for prospective retail participation in investment products IIBX plans to offer. The revised trading hours take effect once notified by IIBX.
India International Financial Services Centres Authority 2025-04-29
India International Financial Services Centres Authority extends India International Bullion Exchange spot trading hours and waives most customer net worth requirements
The India International Financial Services Centres Authority has allowed the India International Bullion Exchange to extend trading hours for spot contracts and removed net worth requirements for most customer classes, except Qualified Jewellers and Suppliers. These changes, part of the IFSCA (Bullion Market Regulations), 2025, aim to enhance market participation and facilitate timely bullion and cash deployment.