New Delhi: The International Financial Services Centres Authority (IFSCA) has issued a regulatory framework for market access through “authorised persons”.
The development comes with a view to widen the investor base for exchange-traded products in the International Financial Services Centre and to enhance the secondary market liquidity. The move would help in deepening the market, the IFSCA said in a statement.
An authorised person is any individual, partnership firm, LLP or body corporate who provides access to the trading platform of a stock exchange as an agent of the stockbroker.
Under the framework, the stockbrokers or trading members — registered with either IFSCA or SEBI or both — of the stock exchanges shall be permitted to provide market access to investors through authorised persons based in foreign jurisdictions.
