Worldwide Monetary Providers Centres Authority on Wednesday issued a regulatory framework for market entry by Authorised Individual to widen the investor base for exchange-traded merchandise within the IFSC and improve the secondary market liquidity.
An Authorised Individual is any particular person, partnership agency, LLP or physique company who supplies entry to the buying and selling platform of a inventory trade as an agent of the inventory dealer, the IFSCA mentioned in an announcement.
“Beneath the framework, the inventory brokers/ buying and selling members (registered with both IFSCA or SEBI or each) of the inventory exchanges shall be permitted to supply market entry to traders by Authorised Individuals based mostly in international jurisdictions,” it mentioned.
Gujarat-headquartered IFSCA has been authorised to manage all monetary companies at worldwide monetary companies centres (IFSCs) in Gandhinagar.
The IFSCA was established on April 27 this yr with head workplace in Gandhinagar.
In December 2019, Parliament handed a invoice to arrange a unified authority for regulating all monetary actions on the IFSCs within the nation.
The primary IFSC within the nation has been arrange at Gujarat Worldwide Finance Tec-Metropolis (GIFT) in Gandhinagar.
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