Settlement Flow

Settlement at IIBX is designed to support efficient completion of trade obligations through a structured settlement mechanism aligned with contract specifications and operational timelines.
The settlement framework enables timely transfer of ownership and financial obligations while maintaining market efficiency and operational certainty.

Settlement Components

Settlement Mechanism for Spot Contracts
Bullion Depository Receipt (BDR) Settlement : For Spot Market contracts, transfer of Bullion Depository Receipts (BDRs) is processed in defined settlement batches.

BDR Settlement Frequency : BDR settlements are processed at intervals of every 30 minutes during settlement windows.
This enables:
     •   Faster ownership transfer
     •   Improved operational efficiency
     •   Reduced settlement waiting time
     •   Enhanced liquidity movement

Funds Settlement for T+0 Contracts :: For Spot Contracts with T+0 settlement, financial obligations are settled in periodic settlement cycles.
Funds Settlement Frequency :: Funds settlement is carried out after every 3-hour interval for T+0 products.
This framework supports:
    •   Intraday settlement efficiency
    •   Improved liquidity management
    •   Timely release of settlement obligations
    •   Better participant cash flow optimization

Settlement Timelines

Settlement Component	Frequency
BDR Settlement	Every 30 minutes
Funds Settlement (T+0 Products)	Every 3 hours
Final Settlement Completion	As per applicable contract timelines

T+0 Settlement
Trade execution and settlement obligations are completed on the trade date through periodic settlement cycles.
Typical characteristics:
    •   Intraday BDR settlement
    •   Periodic fund settlement
    •   Faster ownership transfer

T+2 Settlement
Settlement obligations are completed within two business days from trade execution in accordance with applicable contract specifications.
Typical characteristics:
    •   Extended settlement timeline
    •   Operational flexibility