The India International Bullion Exchange (IIBX) on December 04, 2023, issued a notification regarding the Modification in Daily Price Limit (DPL) for products traded in T+0 Contracts.
The following has been stated namely: -
• IIBX has decided to modify the slabs of price band for products traded under T+0 contracts
• This is modified with immediate effect.
• The table with the enhanced slab rate has been stated in the notification.
• Once the trade hits the prescribed initial slab, the DPL shall be relaxed further by First Enhanced Slab without any cooling off period in the trading. In case, First Enhanced Slab is also breached, then after a cooling off period of 15 minutes, the DPL shall be further relaxed by Second Enhanced Slab.
• During cooling off periods trading shall continue to be permitted within the previous slab of DPL
• In case the daily price limit of 9% is also breached, the price band would not be relaxed automatically.
• The Exchange shall consider the price movement in the International Market in such cases. If the price movement in International markets is more than the maximum daily price limit of 9%, the same may be further relaxed in steps of 3% and will be informed to the regulator immediately.
[Notification No. 20231204-1]
