India International Bullion Exchange IFSC Limited (IIBX), a leading platform for trading and clearing of precious metals, has announced the launch of five new contracts in silver.
The silver contracts were inaugurated on 13th December 2023 in the presence of Dr. Hasmukh Adhia, Chairman, GIFT CITY Shri K. Rajaraman, Chairperson, IFSCA, and Shri Tapan Ray, MD & Group CEO, GIFT CITY.
The contracts will offer market participants the opportunity to trade and hedge silver in different forms and quality standards, with delivery and settlement at the India International Bullion Depository IFSC Limited (IIDI).
The contracts are: SILVER Grains T+0, UAEGD SILVER Grains T+0, UAEGDCEPA SILVER Grains T+0, SILVER Bar T+0, and UAEGD SILVER Bar T+0.
The exchange has also notified the maximum brokerage charges for the silver T+0 contracts, which are $0.06 per kg for trading members and $0.04 per kg for clearing members. The charges will be applicable from the commencement date of the contracts.