How to buy from IIBX Exchange?

How to Buy from IIBX Exchange: A Step-by-Step Guide

With the growing interest in investing in gold digitally, the India International Bullion Exchange (IIBX) has emerged as a key platform for buying and selling physical gold electronically. Established at GIFT City (Gujarat International Finance Tec-City), IIBX is India’s first International Bullion Exchange and aims to streamline gold trading for qualified buyers. Here's a detailed guide on how to buy from the IIBX Exchange.

What is IIBX?

The India International Bullion Exchange (IIBX) is a platform that allows qualified jewelers and other authorized participants to import bullion into India efficiently and transparently. It is regulated by the International Financial Services Centres Authority (IFSCA).

Who Can Buy on IIBX?

Currently, direct participation is allowed for:

  • Qualified Jewellers (registered with IIBX and approved by IFSCA)

  • Non-Resident Indians (NRIs) and Foreign Entities (via qualified channels)

  • Banks and bullion dealers (with requisite licenses)

Retail investors cannot directly trade on IIBX but can participate through authorized members or jewelers.

Steps to Buy from IIBX Exchange

Step 1: Meet Eligibility Requirements

Before anything, ensure you qualify as a buyer:

  • For Qualified Jewellers: Obtain a registration certificate from the Department of Consumer Affairs (DoCA), Ministry of Consumer Affairs, Government of India.

  • Must have a net worth of at least ₹25 crore and meet other financial and operational criteria as defined by IIBX.

Step 2: Register with IIBX

To begin trading:

  • Visit the IIBX official website

  • Register as a Qualified Jeweller by submitting necessary KYC documents, PAN, DoCA certificate, and financials.

  • Wait for approval from IFSCA and IIBX.

Step 3: Open a Trading and Clearing Account

After registration:

  • Open a trading account with a registered IIBX Trading Member

  • Open a clearing account with a recognized Clearing Corporation like the India International Clearing Corporation (IICC)

Step 4: Fund Your Account

Transfer funds to your IIBX account through a designated bank account in GIFT City. INR and foreign currency deposits may be used, depending on your classification.

Step 5: Start Trading

  • Log into the trading portal provided by your Trading Member

  • Place buy orders for gold in terms of kilograms

  • IIBX lists gold bars meeting London Bullion Market Association (LBMA) standards (typically 995 or 999 purity)

  • Trading sessions occur Monday to Friday (excluding holidays)

Step 6: Settlement and Delivery

  • Trades are settled on a T+0 (same-day) or T+1 (next-day) basis

  • Delivery of gold is done at the IIBX-approved vaults in GIFT City

  • You can take physical delivery or opt to store the gold in the vault

Key Benefits of Buying from IIBX

  • Transparent Pricing: Real-time market-driven rates

  • Efficient Imports: Simplifies gold import process for jewelers

  • Secure Vaulting: Gold stored in LBMA-compliant secure vaults

  • Regulated Market: Overseen by IFSCA, ensuring trust and compliance

Final Thoughts

The IIBX marks a significant shift in how bullion is bought and sold in India. By digitizing the process and opening up international participation, it ensures better price discovery, transparency, and streamlined logistics for qualified buyers. While the platform is currently limited to institutional and qualified participants, it is a major step toward modernizing India's bullion ecosystem.

If you're a jeweler looking to modernize your gold procurement process or a global investor seeking access to India's gold market, IIBX offers a secure and regulated pathway.


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