International Financial Services Centres Authority (Bullion Market) Regulations, 2025 Chapter VIII GENERAL OBLIGATIONS OF BULLION EXCHANGE AND BULLION CLEARING CORPORATION
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Settlement Guarantee Fund safeguards bullion trade settlement through mandatory contributions, stress-tested corpus requirements, and use following clearing-member default. Settlement Guarantee Fund arrangements require every bullion clearing corporation to maintain a fund guaranteeing settlement of bullion-exchange trades. ... Summary
Settlement Guarantee Fund safeguards bullion trade settlement through mandatory contributions, stress-tested corpus requirements, and use following clearing-member default.
Settlement Guarantee Fund arrangements require every bullion clearing corporation to maintain a fund guaranteeing settlement of bullion-exchange trades. Contributions must be made by the bullion exchange, clearing corporation, trading members and clearing members as specified by the Authority. The Fund is used to complete settlement upon a clearing member's default. Its corpus must be sufficient to meet default-related obligations, periodically stress tested, and maintained at least at the higher of the monthly stress-test requirement or USD 1 million.
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