The International Financial Services Centres Authority (IFSCA) on July 08, 2024, issued a circular regarding Direct Market Access and Sponsored Access facilities for the Bullion Exchange participants.
The following has been stated: -
•The IFSCA, vide Circular dated June 21, 2023, has prescribed guidelines and provisions for the Direct Market Access (DMA) facility and Sponsored Access (SA) facility offered by broker-dealers to their clients for trading on the stock exchanges in the IFSC.
•In continuation of the same, it is informed that the aforementioned IFSCA Circular shall also apply, mutatis mutandis, to Bullion Exchange, Bullion Trading Members, and Bullion Clearing Members.
•The Bullion Exchange is advised to:
a)Make necessary amendments to the relevant bye-laws, rules, and regulations for the implementation.
b)Bring the provisions of this circular to the notice of the Bullion Trading Members and Bullion Clearing Members and disseminate the same on its website.
c)This Circular is issued in exercise of the powers conferred under Section 12 of the IFSCA Act, 2019 r/w Regulation 58 of the IFSCA (Bullion Exchange) Regulations, 2020.
The detailed circular is given in the document below.
[Circular No. IFSCA/DMC-MRD/Bullion/Technology/6/2024/01]
