Any entity who wants to supply bullion on IIBX and who being a body Corporate, i.e. a company, or a Limited Liability Company (LLC) or a Limited Liability Partnership (LLP), incorporated as per the applicable laws in the home jurisdiction shall be eligible to apply to become a designated “Qualified Supplier” (QS) on IIBX subject to submitting requisite documentation including Know Your Bullion Depositor (KYBD) form.
- A Qualified Supplier can either participate as a Bullion Trading Member by submitting the Know Your Bullion Depositor (KYBD) form.
Qualified Supplier can also participate as a client of a Bullion Trading Member (Qualified Supplier [QS]- Client). QS-Client shall approach a Bullion Trading Member (TM/TCM) for opening a client account by submitting the Know Your Bullion Depositor (KYBD) form to IIBX and requisite Know Your Customer (KYC) and the application forms as specified by the Bullion Trading Member and the India International Depository IFSC Limited (IIDI). QS-Client can supply bullion as well as trade in Bullion Depository Receipts (BDRs) on IIBX. QS-Client must have a minimum net worth equivalent to US$ 3 Million as per the latest audited statement.
- Further, for the purpose of facilitating the supply of Bullion at India International Bullion Exchange (IIBX), another category of Qualified Supplier has been enabled i.e., Qualified Supplier - Limited Purpose Trading Member (QS-LPTM). QS-LPTM can participate on IIBX without having to set up an establishment, office or a unit – as a branch or subsidiary at International Financial Services Centre (IFSC) subject to meeting the eligibility criteria. QS-LPTM can only participate on the ‘sell’ side and are not allowed to buy BDRs on IIBX.