Metals & Commodities Entities
Trading cum Clearing Member
Bullion exchange, vaults, trading and clearing members
About this entity type
A very brief overview
The India International Bullion Exchange (IIBX) ecosystem in GIFT IFSC covers the bullion exchange and clearing corporation, vault managers and additional vaults, trading and professional clearing members, qualified jewellers permitted to import gold, and India-UAE CEPA TRQ holders. Each role has its own eligibility, net worth and operational-audit requirements.
Who it suits: Bullion traders, refiners, vault operators, jewellers importing gold/silver and clearing members.
Applicable regulation
IFSCA (Bullion Exchange) Regulations, 2020
Bullion exchange, clearing corporation, vault manager and member eligibility, obligations and vaulting norms.
Official sourceIFSCA circulars on Qualified Jewellers and TRQ imports
Notification/de-notification of qualified jewellers and conditions for India-UAE CEPA TRQ gold imports through IIBX.
Official source
Registered entities
Entities registered under Trading cum Clearing Member
15 entities on the IFSCA register. Live data from the IFSCA directory.
| Entity | Sub-category | Registration | Validity |
|---|---|---|---|
| Bank of Baroda - IBU | Trading cum Clearing Member | IFSC/Bullion TM-CM/2025-26/02523 Sept 2025 | Perpetual / Not stated |
| Bank of India - IBU | Trading cum Clearing Member | IFSC/Bullion TM-CM/2025-26/02619 Nov 2025 | Perpetual / Not stated |
| Bank of Maharashtra – IBU | Trading cum Clearing Member | IFSC/Bullion TM-CM/2026-27/03014 Jul 2026 | Perpetual / Not stated |
| Canara Bank – IBU | Trading cum Clearing Member | IFSC/Bullion TM-CM/2026-27/02902 Jun 2026 | Perpetual / Not stated |
| East India (IFSC) Private Limited | Trading cum Clearing Member | IFSC/Bullion TM-CM/2022-23/01514 Feb 2023 | Perpetual / Not stated |
| Globe Capital (IFSC) Limited | Trading cum Clearing Member | IFSC/Bullion TM-CM/2021-22/00101 Oct 2021 | Perpetual / Not stated |
| HDFC Bank Limited-IBU | Trading cum Clearing Member | IFSC/Bullion TM-CM/2024-25/02218 Jul 2024 | Perpetual / Not stated |
| ICICI Bank IBU | Trading cum Clearing Member | IFSC/Bullion TM-CM/2022-23/014 </br> IFSC/Bullion TM-CM/2022-23/014A21 Jul 2022 | Perpetual / Not stated |
| Indian Bank – IBU | Trading cum Clearing Member | IFSC/Bullion TM-CM/2026-27/02828 Apr 2026 | Perpetual / Not stated |
| Motilal Oswal Finsec IFSC Limited | Trading cum Clearing Member | IFSC/Bullion TM-CM/2021-22/00201 Oct 2021 | Perpetual / Not stated |
| Punjab National Bank - IBU | Trading cum Clearing Member | IFSC/Bullion TM-CM/2025-26/02407 Nov 2025 | Perpetual / Not stated |
| SMC Global IFSC Private Limited | Trading cum Clearing Member | IFSC/Bullion TM-CM/2021-22/01212 Jan 2022 | Perpetual / Not stated |
| State Bank of India IFSC Banking Unit | Trading cum Clearing Member | IFSC/Bullion TM-CM/2023-24/019A06 Mar 2024 | Perpetual / Not stated |
| Stockholding Securities IFSC Limited | Trading cum Clearing Member | IFSC/Bullion TM-CM/2021-22/00706 Jan 2022 | Perpetual / Not stated |
| The Federal Bank Ltd – IBU | Trading cum Clearing Member | IFSC/Bullion TM-CM/2025-26/02724 Nov 2025 | Perpetual / Not stated |
Timeline & approach
How we take Trading cum Clearing Member from plan to authorisation
Step 1
Eligibility & structure
Week 1
We map your activity to the right IFSCA category and sub-category, confirm net worth, KMP and shareholding eligibility, and fix the holding structure.
Step 2
SEZ unit approval
Weeks 2–4
Unit application to the Development Commissioner, Letter of Approval, office space lease and NDC/customs registrations.
Step 3
IFSCA application
Weeks 3–8
Application, business plan, policies (AML/CFT, risk, outsourcing, cyber), KMP profiles and query resolution until in-principle approval.
Step 4
Go-live & compliance calendar
Weeks 8–14
Bank account, systems, statutory registrations, commencement intimation and handover to a live obligation calendar in your Gateway portal.
Indicative cost
USD 2,500 – 12,000 depending on role
Qualified jeweller notification is at the lower end; vault manager at the upper end.
Why GIFT City Gateway
Why sponsors pick us for this
Category specialists
We work only on GIFT IFSC mandates — the regulation, the reviewer questions and the SEZ process are our daily work.
One accountable owner
A named Gateway lead runs your application end to end, not a rotating coordinator queue.
Live intelligence
We track every authorised entity in this category, so your structure is benchmarked against real precedents.
Setup to steady state
Registration hands over into a live compliance calendar in your client portal — no gap after go-live.
Next step
Tell us what you need for Trading cum Clearing Member
Share your plan and we respond with the eligibility read, the document list, the indicative timeline and a fee.
- • Eligibility and net-worth check against the applicable regulation
- • Structure options (branch vs subsidiary, holding jurisdiction)
- • Week-by-week plan across SEZ and IFSCA
- • Fixed-fee proposal with the compliance calendar that follows
Lead details