How to become member of IIBX Exchange?

 

How to Become a Member of IIBX Exchange: A Complete Guide

India International Bullion Exchange (IIBX), launched in 2022, is India’s first International Bullion Exchange located at GIFT City, Gujarat. It is a groundbreaking initiative aimed at creating a transparent, efficient, and world-class trading platform for gold and other precious metals in India. Governed by the International Financial Services Centres Authority (IFSCA), IIBX facilitates the trading of bullion in a regulated and secure environment.

Becoming a member of the IIBX Exchange opens doors to a host of opportunities in the bullion market. Whether you are a trading member, clearing member, or a Qualified Jeweller, the membership offers access to a streamlined and regulated gold import and trading system.

This guide will walk you through the eligibility, types of membership, application process, documentation, and compliance requirements to become a member of IIBX Exchange.

📌 Types of Membership at IIBX

IIBX offers several categories of membership based on the participant’s profile and business model:

1. Trading Member (TM)

  • Can trade on their own account or on behalf of clients.

  • Cannot clear or settle trades unless also a clearing member.

2. Clearing Member (CM)

  • Responsible for clearing and settlement of trades.

  • Can clear trades for themselves and/or other trading members.

3. Trading and Clearing Member (TCM)

  • A combined role; authorized to trade and clear transactions on their own or for clients.

4. Professional Clearing Member (PCM)

  • Specializes in clearing and settlement services for other members.

  • Typically banks or financial institutions.

5. Qualified Jeweller (QJ)

  • Recognized Indian jewellers registered with IIBX to import bullion through the exchange.

  • Can place orders via registered trading members.

✅ Eligibility Criteria

The eligibility to become an IIBX member depends on the membership category:

For Trading/Clearing Members:

  • Registered company or LLP with net worth as per IFSCA norms.

  • Must have the required infrastructure and technical capability.

  • Financially sound with clean regulatory history.

For Qualified Jewellers:

  • Should be a body corporate registered in India.

  • Must have a minimum net worth of ₹25 crore.

  • Registered with the Directorate General of Foreign Trade (DGFT).

  • Should have a track record of at least 5 years in the jewellery business.

📄 Required Documents

Applicants must submit a set of documents during the registration process. These typically include:

  • Certificate of Incorporation (for companies/LLPs)

  • Memorandum and Articles of Association (MOA/AOA)

  • Net worth certificate from a Chartered Accountant

  • PAN and GST registration

  • Board resolution authorizing membership application

  • KYC documents of promoters/directors

  • Financial statements for the past 3 years

  • Details of IT infrastructure and compliance setup

Qualified Jewellers must also submit:

  • Valid DGFT registration (RCMC)

  • BIS registration (if applicable)

  • Past trade performance (including gold imports)

📝 Application Process: Step-by-Step

Here’s a step-by-step overview of how to apply for IIBX membership:

Step 1: Visit the Official Website

Go to the IIBX Exchange website: https://www.iibx.co.in

Step 2: Download Membership Application Forms

Navigate to the ‘Membership’ section and download the required forms for your chosen category.

Step 3: Complete the Application

Fill out all required fields accurately. Attach supporting documents and certifications.

Step 4: Submit the Application

Submit the filled application form to the IIBX Membership Department via email or through the physical office located at GIFT City, Gujarat.

Step 5: Review and Due Diligence

The IIBX and IFSCA conduct a thorough review of the application, including due diligence and background checks.

Step 6: Membership Approval

If all conditions are satisfied, the applicant receives approval along with a certificate of membership.

Step 7: Onboarding and Activation

  • Sign the Membership Agreement.

  • Set up connectivity to the IIBX trading platform.

  • Complete KYC/AML training and compliance certifications.

  • Activate trading account post-deposit of required security.

💰 Fees and Charges

Membership with IIBX involves the following charges:

TypeAmount (INR)
Application Fee₹50,000 – ₹1,00,000 (non-refundable)
Admission Fee₹5 lakhs – ₹10 lakhs (varies by type)
Annual Subscription₹1 lakh – ₹5 lakhs
Security Deposit₹25 lakhs or more depending on category
Technology/ConnectivityAs per vendor and setup

Note: Fees are indicative and subject to change. Visit IIBX Fee Schedule for updated details.

🛡️ Compliance and Regulatory Requirements

All members are required to comply with IFSCA guidelines and exchange rules:

  • Maintain prescribed net worth.

  • Ensure regular KYC and AML compliance.

  • Submit periodic audit and compliance reports.

  • Adhere to trading limits, margin requirements, and risk management norms.

  • Participate in regular training and system updates.

🌍 Benefits of Becoming an IIBX Member

  • Access to a transparent, electronic bullion trading platform.

  • Competitive pricing and centralized bullion imports.

  • Enhanced compliance and traceability of gold trades.

  • Efficient settlement and delivery through GIFT City vaults.

  • Networking with international suppliers and domestic jewellers.

📞 Contact Information

For queries, assistance, or application status:

India International Bullion Exchange (IIBX)
GIFT City, Gandhinagar, Gujarat
Website: www.iibx.co.in
Email: membership@iibx.co.in
Phone: +91-79-6170 3000

🧾 Conclusion

Becoming a member of IIBX Exchange is a strategic move for companies and jewellers looking to be part of a regulated, efficient, and international-standard bullion trading ecosystem. Whether you're a trader, clearing house, or jeweller, the exchange offers a powerful platform to streamline bullion imports and enhance business operations.

By fulfilling the eligibility criteria and following the application process carefully, you can position your organization at the forefront of India’s evolving gold market.

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