The India International Bullion Exchange (IIBX), on April 28, 2026, issued a circular introducing strengthened fund pay-in controls in the Spot Clearing & Settlement segment. The circular implements a two-level maker–checker mechanism within the Collateral Module as part of enhanced risk containment measures for clearing operations.
Under the revised framework, funds deposited and transferred by market participants will be made available for trading only after final approval and confirmation of transfer to the Exchange Account by the concerned clearing banks. Clearing banks are required to exercise due diligence by verifying that funds have actually been credited before granting final approval in the system.
Further, once a clearing bank approves an amount in the Collateral Module, it assumes an irrevocable obligation to credit the approved funds to the Exchange Account within prescribed timelines. The circular is effective immediately and aims to strengthen operational discipline, mitigate settlement risks, and enhance overall financial integrity of the exchange ecosystem.
[Circular No. IIBX-CS-2026-032]
