The International Financial Services Authority on August 25, 2021 has issued Operating Guidelines on Bullion Exchange, Bullion Clearing Corporation, Bullion Depository and Vault Manager. The Bullion Exchange shall only enable 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. The following are eligible to become members of the Bullion Exchange subject to prior registration with the Authority for the purpose of trading in bullion depository receipts with underlying bullion on the Bullion Exchange:
- Banking Units at IFSC.
- Subsidiaries/Branches of entities dealing with financial products,setup in an IFSC.
- Banks authorized by RBI and Nominated Agencies authorized by Directorate General of Foreign Trade(DGFT) to deal in bullion.
The Bullion Exchange,on receipt of information pertaining to the creation of Bullion Depository Receipt, shall enable trading of the same.
