To

All Market Participants of IIBX (Members, Qualified Jewellers, Qualified Suppliers and Clients), IFSC Authorised Vaults and India International Depository IFSC Limited (IIDI)

Subject:   Launch of new Gold T+0 & Silver T+0 contracts with J. Matadee FTWZ Vault, Chennai delivery centre as separate tokens under existing products.

India International Depository IFSC Ltd. (IIDI) has recently empanelled an additional vault managed by Brinks India Private Limited at J. Matadee Free Trade Warehousing Zone (FTWZ) in Chennai. IIDI shall generate Bullion Depository Receipts (BDRs) for the Bullion deposited in J. Matadee FTWZ vault in Chennai with a separate location code.

To enable trading of these BDRs on India International Bullion Exchange IFSC limited (IIBX), the Exchange shall launch new Gold T+0 and Silver T+0 contracts hereinafter referred to as Chennai Contracts, with J Matadee FTWZ vault, Chennai delivery centre as separate tokens under some existing products with effect from July 29, 2024.

The contract specifications, trading procedures, risk management measures, settlement procedure etc., for the proposed Gold T+0 & Silver T+0 Chennai contracts would remain same as per the existing contracts with GIFT IFSC Delivery Centre, as per details given on IIBX website. The same are also enclosed Annexure I.

These Chennai contracts will have the same ISIN as the existing products. However, the Chennai contracts will run as separate tokens under respective ISIN of the existing products. Different token numbers will be used to differentiate the delivery centres at GIFT IFSC and Chennai. There would be additional column for Delivery Centre displayed on IIBX trading terminals for clear identification of contracts based on delivery centre.

After the Settlement process at IIBX the BDR shall be compulsorily delivered in the Demat account with the depository.

It is further advised that for the trades entered in the respective contracts, post settlement the delivery will take place only at the respective delivery centres i.e., the trades entered in Chennai contracts cannot be delivered at GIFT IFSC Vaults and vice-versa. The Qualified Suppliers intending to provide delivery from J. Matadee FTWZ vault at Chennai would need to deposit the bullion in the J. Matadee FTWZ vaults only.

The new contracts that shall be launched with J. Matadee FTWZ Vault, Chennai as Delivery Centre are given below:

IIBX Trading & Clearing Software identifies the delivery centre based on the Location Id (SDV ID) mentioned in the BDR Pay-in file and accordingly allows the Sell orders to be entered only in respective delivery centre contracts.

The important points and Risk Management framework for the Chennai contracts is enclosed as Annexure II.

For any clarifications, Members may contact the following departments.

For and on behalf of

India International Bullion Exchange IFSC Limited

Vinod Ramachandran

Head – Clearing & Settlement and Risk Management

Tel: 079-69697123

Email : cs.ops@iibx.co.in