FSCA issues norms for market access through 'authorised persons'

New Delhi, Oct 14 (IANS) 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 stock broker.Under the framework, the stock brokers 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.
--IANS rrb/sn/vd