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Corporate Laws Central Ministry of Finance International Financial Services Centres Authority Act, 2019

IFSCA Issues Clarification regarding Global Access to Stock Exchanges Outside the IFSC by Broker dealers

06-Jun-2024 | IFSCA-PLNP/28/2024-Capital Markets/001

IFSC has issued a Clarification regarding the applicability of the Circular on Global Access to Stock Exchanges Outside the IFSC by Broker-dealers, dated November 25, 2021.

By virtue of the circular, all broker-dealers that have already taken NOC for global access (whether proprietary or clientele) shall pay the pending fees for the years 2023-24 and 2024-25 latest by June 30, 2024.

Also, any broker-dealer accessing global markets on its own shall be required to make the payment of an annual fee on a pro-rata basis from the date of NOC granted by the Stock Exchange in this regard. In cases where NOC is required from more than one recognized stock exchange, fees may be paid upon of receipt of NOC from all the recognized stock exchanges. Such fee may be paid within 15 days from the date of grant of such NOC.

Please refer to the attachment for more information.

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