December 14, 2020
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Bullion Exchange regulation: IFSCA sets framework for bullion trading, clearing, depository and vaulting services.
Regulations establish a regulatory framework to operationalize a Bullion Exchange within the International Financial Services Centre after classifying bullion spot delivery contracts and bullion depository receipts as Financial Services. The International Financial Services Centres Authority (Bullion Exchange) Regulations, 2020 set out provisions for the Exchange, a Clearing Corporation, Depositories and Vaults, organised across sixteen chapters addressing exchange and clearing arrangements and storage and depository provisions.