Segregated Nominee Account Structure in International Financial Service Centre (IFSC)

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..... t Structure in International Financial Service Centre (IFSC) With a view to further facilitate ease of market access for foreign investors in IFSC and based on feedback received from market participants, it has been decided to permit Segregated Nominee Account Structure in IFSC wherein orders of foreign investors may be routed through eligible Segregated Nominee Account Providers (hereinafter .....

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..... ing to capturing the KYC information for sharing with the Central KYC Registry (CKYCR) to the extent applicable to FPIs, are adhered to by Providers for their end-clients. 5. Stock Exchanges and Clearing corporations are directed to: a) take necessary steps to put in place systems for implementation of the circular, including necessary amendments to the relevant bye-laws, rules and regulat .....

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..... BI registered FPIs (Category I and II), and iii. Trading / Clearing members of international stock exchanges / clearing corporations that are regulated by a member of Financial Action Task Force (FATF) Such eligible entities shall be called Segregated Nominee Account Providers. B. Registration of Provider Providers shall be registered with Stock Exchange / Clearing Corporation in .....

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..... ith only one Provider . Legal Entity Identifier (LEI) code may be used to ensure that the end-client does not open Segregated Nominee Account with more than one Provider and trades of an end-client are cleared and settled only through one clearing member. iii. Each end-client shall be assigned a Unique Client Code (UCC), which shall be unique across all end-clients of all Providers , by Sto .....

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..... contains the clause regarding the aforesaid arrangement. H. Monitoring of Position Limits Position limits shall be monitored at end-client level by stock exchanges / clearing corporations. I. Other Risk Management Framework All other provisions relating to risk management as applicable in IFSC shall also be applicable to end-clients of Providers , unless otherwise specified. - .....

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