The International Financial Services Centre Authority vide its notification dated 17th May 2021 has issued clarification in the criteria for banking units to become trading members in IFSCA recognized stock exchanges.
The Banking units will not become a trading member in interest rate and currency derivatives segment and/or clearing member in any derivatives segment of IFSCA recognised stock exchanges unless its parent bank satisfies the minimum prescribed capital requirement specified by the home regulator of the parent bank.
A BU that is a trading/clearing member shall keep its and its clients’ position distinct from one another.
