International Financial Services Centres Authority
Circular No. IFSCA/CMD-DMIIT/BCP-DR/2023-24/001 Dated: May 09, 2023
All the Stock Exchanges and Clearing Corporations in GIFT-IFSC
All the Broker-Dealers and Clearing Members in GIFT-IFSC
Sub: Status of operations at Disaster Recovery (DR) Site of the Broker Dealers and Clearing Members registered with IFSCA
1. 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.
2. 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.
Division of Market Infrastructure Institutions and Technology
Capital Markets Department