RIGHTS AND OBLIGATIONS OF BULLION DEPOSITORIES, PARTICIPANTS AND BENEFICIAL OWNERSInternational Financial Services Centres Authority (Bullion Market) Regulations, 2025
RIGHTS AND OBLIGATIONS OF BULLION DEPOSITORIES, PARTICIPANTS AND BENEFICIAL OWNERSInternational Financial Services Centres Authority (Bullion Market) Regulations, 2025
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 requirements mandate default coverage, periodic stress testing, minimum corpus maintenance, and regulated utilisation for bullion trade settlement. Every bullion clearing corporation must maintain a Settlement Guarantee Fund to guarantee settlement of exchange trades, funded by the bullion exchange, ... Summary
Settlement Guarantee Fund requirements mandate default coverage, periodic stress testing, minimum corpus maintenance, and regulated utilisation for bullion trade settlement.
Every bullion clearing corporation must maintain a Settlement Guarantee Fund to guarantee settlement of exchange trades, funded by the bullion exchange, clearing corporation, trading members and clearing members as specified. On a clearing member's settlement default, the Fund must be used to complete settlement. The corpus must cover obligations arising from such defaults, be periodically stress-tested, and remain at least the higher of the monthly stress-test minimum or the prescribed dollar-denominated threshold. Utilisation is subject to specified norms.
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