QUALIFICATION FOR MEMBERSHIP OF THE BULLION EXCHANGE OR BULLION CLEARING CORPORATIONInternational Financial Services Centres Authority (Bullion Market) Regulations, 2025
QUALIFICATION FOR MEMBERSHIP OF THE BULLION EXCHANGE OR BULLION CLEARING CORPORATIONInternational Financial Services Centres Authority (Bullion Market) Regulations, 2025
Regulation 4 - Conditions for grant of recognition as a Bullion Exchange or Bullion Clearing Corporation
International Financial Services Centres Authority (Bullion Market) Regulations, 2025 Chapter II RECOGNITION OF BULLION EXCHANGE AND BULLION CLEARING CORPORATION
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Bullion market recognition requires demutualised governance, adequate infrastructure, real-time systems, risk controls, settlement capability and dispute-resolution arrangements. Recognition as a bullion exchange or bullion clearing corporation requires incorporation as a company limited by shares, demutualisation, fit and proper ... Summary
Recognition as a bullion exchange or bullion clearing corporation requires incorporation as a company limited by shares, demutualisation, fit and proper ownership and management, prescribed governance and net-worth compliance, and adequate financial capacity, expertise and infrastructure. Exchanges require online trading and real-time surveillance, member regulation, connectivity, dispute-resolution, information dissemination, system resilience and qualified personnel. Clearing corporations require timely settlement infrastructure, risk management, netting, novation, settlement guarantee, a guarantee fund, connectivity, resilience, dispute-resolution arrangements and agreements with the bullion depository and exchange.
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