The International Financial Services Centres Authority (IFSCA) on June 27, 2024, issued a notification regarding the Permission to offer OTC derivatives on Gold and Silver: Amendment to OTDE Module (Module no. 13) of IFSCA Banking Handbook COB Directions v6.0.
It has been decided to permit IFSC Banking Units (IBUs) to undertake OTC derivatives on Gold and Silver and offer such derivatives to their clients.
The updated OTC derivatives (OTDE) Module of the IFSCA Banking Handbook, with the necessary changes marked in bold, is enclosed and attached to the document. The updated module shall be included in the IFSCA Banking Handbook subsequently.
The circular shall come into force with immediate effect.
[Notification No. IFSCA-FMPP0BR/14/2024-Banking]
