The India International Bullion Exchange IFSC Limited (IIBX) on February 11, 2026, issued Circular No. IIBX-BD-2026-015 under the Business Development Segment (Future), refining certain features of the Liquidity Enhancement Scheme (LES) for Gold Futures contracts. This is in continuation of earlier Circular No. IIBX-MEM-2025-037 dated July 11, 2025.
The Exchange has revised eligibility criteria and operational provisions for General Market Participants (GMP). Notably, GMP applicants are no longer required to be existing liquidity providers in international exchanges; Market Makers will be automatically enrolled as GMP; “Near month” and “Next month” references are replaced with “Near active month” and “Next active month”; and Market Makers may avail GMP-level incentives under specified conditions, including participation in non-active months and where bid presence is below 15% in active months.
Applicants seeking appointment as GMP under the LES must submit details in the prescribed format (Annexure I) on or before March 31, 2026. No financial bids are required, and selection will be based on merit. The Exchange’s decision regarding selection of LES Providers under the GMP category shall be final and binding.
[Notification No. IIBX-BD-2026-015]
