SBI become Trading Cum Clearing Member of IIBX

The largest public sector lender SBI has announced that it has become the first bank to become a Trading cum Clearing (TCM) Member at India International Bullion Exchange.

India International Bullion Exchange (IIBX) is India’s first bullion exchange established in IFSC Gift City.

This category of membership entitles a member to execute trades on his own account as well as on account of his clients and to clear and settle trades executed by themselves as well as by other trading members who choose to use the clearing services of the member.

Read Also : IndusInd Bank Q1 FY25 results, net profit at 2% YoY

IIBX is a platform that enables trading in bullion with adherence 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 types of entities are eligible to become members of IIBX-

Non-Resident Individual / Proprietorship Firm

Registered Partnership Firm
Private Limited Company and Public Limited Company
Qualified Jewellers
IBU Branches at GIFT City
Foreign Bullion Suppliers who follow OECD guidelines
 

 

 

 

Read Also : RBI issues guidelines on higher liquidity coverage ratio for retail deposits