Securities and Exchange Board of India

CIRCULAR No. SEBI/HO/MRD/DSA/CIR/P/201 7/117

Dated: October 17, 2017

1. All recognized Stock Exchanges/Clearing Corporations in International Financial Services Centre (IFSC)

2. All recognized Stock Exchanges and Clearing Corporations

3. All Registered Intermediaries

Dear Sir/Madam

Securities and Exchange Board of India (International Financial Services Centers) Guidelines, 2015 – Amendments

Kindly refer to SEBI (IFSC) Guidelines, 2015 notified by SEBI on March 27, 2015 and SEBI Circular SEBI/HO/CIR/P/2017/85 dated July 27, 2017 amending these guidelines.

2. In order to further streamline the operations at IFSC, based on the internal discussions and consultations held with the stakeholders, it has been decided to further amend Guideline 8(2) which shall now read as follows: :

“8 (2) Any entity based in India or in a foreign jurisdiction may form a company in IFSC to act as a trading member of a stock exchange and/or a clearing member of a clearing corporation in IFSC.”

3. This circular is being issued in exercise of powers conferred under Section 11 (1) of the Securities and Exchange Board of India Act, 1992, to protect the interests of investors in securities and to promote the development of and to regulate the securities market.

Yours faithfully

Bithin Mahanta

Deputy General Manager

Market Regulation Department

Email:bithinm@sebi.gov.in

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