Market makers have made requests to access offshore ETPs offering permitted Indian Rupee (INR) products
FinTech BizNews Service
Mumbai, February 8, 2024: In October 2018, the Reserve Bank had put in place a regulatory framework for electronic trading platforms (ETPs) for executing transactions in financial instruments regulated by it. Under the framework, which aimed to ensure fair access through transparent, safe, and efficient trading processes, robust trading infrastructures and prevent market abuse, thirteen ETPs operated by five operators have since been authorised. Over the last few years, there has been increased integration of the onshore forex market with offshore markets, notable developments in the technology landscape and an increase in product diversity. Market makers have also made requests to access offshore ETPs offering permitted Indian Rupee (INR) products. In view of these developments, it has been decided to review the regulatory framework for ETPs, as per a statement of Shaktikanta Das, Governor, Reserve Bank of India, issued on February 8, 2024 after the MPC meet. The revised regulatory framework will be issued separately for public feedback.
