To,

All Members and Market Participants of IIBX,

Subject: Modification in Daily Price Limit (DPL) for Gold Contracts traded in T+0 Contracts

In partial modification to IIBX circular no. 20231004-1 dated 04 October 2023, IIBX has decided to modify the initial slab of price band for Gold Contracts traded under T+0 contracts from 3% to 1% with immediate effect as per details given below:|

1. The DPL shall have eight slabs as mentioned in the table above. Once the trade hits the prescribed initial slab, the DPL upto 5th enhanced slab shall be relaxed without any cooling off period in the trading. In cases where the DPL breaches the 5th slab instance and above (i.e. DPL has breached 6% slab) the DPL shall be relaxed after a cooling off period of 15 minutes at every enhanced slab (ie. from 5th instance and above).

2. During the cooling off period trading shall continue to be permitted within the previous slab of DPL.

3. In case the daily price limit of 9% is also breached, t he price band would NOT be relaxed automatically. The Exchange shall consider the price movement in the International Market in such cases. If the price movement in International markets is more than the maximum daily price limit of 9%, the same may be further relaxed in steps of 1% and will be informed to the regulator immediately

All Members are requested to take a note of above and notify the modifications to their respective clients.

For any assistance   /   clarifications, Members may contact:

  

For and on behalf of India International Bullion Exchange (IFSC) Limited          

  

Vijay Kumar Patil

AVP-Surveillance & Investigation

Contact No. 079-69697133

Email     surveillance@iibx.co.in