class="MsoNormal" style="text-align: justify;">The International Financial Services Centres Authority (IFSCA) on December 11, 2023, issued a circular regarding the ‘Qualified Suppliers’ for the supply of bullion on the India International Bullion Exchange.
The Supply of bullion at IIBX, by enabling eligible supplier entities as Qualified Suppliers to participate in IIBX, has been facilitated by the IFSCA vide its Circular 415/IFSCA/Consolidated Operating Guidelines/2021-22 dated August 18, 2022. As per the Circular, a Qualified Supplier can transact on IIBX either as a client (QS- client) of a Bullion Trading Member or as a Qualified Supplier – Limited Purpose Trading Member (QS-LPTM).
To more accurately represent the nature of participation of Limited Purpose Trading Members (LPTMs) as clients, it has been decided to rename ‘LPTM’ as a ‘Special Category’ Client. Accordingly, the words ‘Limited Purpose Trading Member(s)’ or ‘LPTM(s)’ in the IFSCA Circular dated August 18, 2022, maybe read as ‘Special Category’ client(s).
All other provisions contained in the aforementioned IFSCA Circular dated August 18, 2022, shall remain unchanged.
[Circular No. 329/IFSCA/Bullion MIIs/2023-24/03]
