The International Financial Service Centres Authority on 12th April 2021 has published the IFSCA (Market Infrastructure Institutions) Regulations, 2021 which shall come into force from 30th April 2021.
A person seeking recognition as a market infrastructure institution in an IFSC shall be a company incorporated in an IFSC in compliance with the shareholding requirements prescribed under these regulations and the person shall not conduct, organize or assist in organizing any stock exchange, clearing corporation, or depository in an IFSC unless he has obtained recognition from the Authority.
The period of recognition granted to a market infrastructure institution shall be permanent or for such period not less than one year as may be specified by the Authority.
A recognized market infrastructure institution shall put in place an adequate monitoring mechanism to ensure compliance with the shareholding conditions specified in these regulations, at all times and may apply for listing of its securities on any stock exchange pursuant to the approval of the Authority.
