IFSCA circular IFSCA/CMD-DMIIT/BCP-DR/2023-24/001 · 09 May 2023
Official title
Status of operations at Disaster Recovery (DR) Site of the Broker Dealers and Clearing Members registered with IFSCA
Official record
Open source pageSummary
Check the official recordBroker Dealers and Clearing Members registered with IFSCA may set up Disaster Recovery sites in India. Operations carried out from Disaster Recovery sites located outside GIFT-IFSC and within India count as operations carried out at GIFT-IFSC.
Key dates
Who is affected
[Image omitted. See the official document.]
CIRCULAR
IFSCA/CMD-DMIIT/BCP-DR/2023-24/001
May 09, 2023
To,
All the Stock Exchanges and Clearing Corporations in GIFT-IFSC
All the Broker-Dealers and Clearing Members in GIFT-IFSC
Dear Sir/Madam,
Sub: Status of operations at Disaster Recovery (DR) Site of the Broker Dealers and Clearing Members registered with IFSCA
Broker Dealers and Clearing Members registered with IFSCA under the IFSCA (Capital Market Intermediaries) Regulations, 2021, are permitted to set up their DR Sites in India.
It is hereby clarified that operations carried out by the Broker Dealers and Clearing Members, from their respective DR sites located outside GIFT-IFSC and within India, shall be deemed to have been carried out at GIFT-IFSC.
This circular is issued in exercise of powers conferred by Section 12 of the International Financial Services Centres Authority Act, 2019 to develop and regulate the financial products, financial services and financial institutions in the International Financial Services Centres.
A copy of this circular is available on the website of the International Financial Services Centres Authority at www.ifsca.gov.in.
Yours faithfully,
Praveen Kamat
General Manager
Division of Market Infrastructure Institutions and Technology
Capital Markets Department
email: praveen.kamat@ifsca.gov.in
Tel: +91-79-61809820
