The Reserve Bank of India (RBI) on February 8 said it will review the framework for electronic trading platforms (ETP) following request from market makers.
The central bank put in place a regulatory framework for electronic trading platforms (ETPs) for executing transactions in financial instruments regulated by it in October 2018.
Over the last few years, there has been increased integration of the onshore forex market with offshore markets, notable developments in the technology landscape and an increase in product diversity, the RBI said.
The market makers have also made requests to access offshore ETPs offering permitted Indian Rupee (INR) products. In view of these developments, it has been decided to review the regulatory framework for ETPs, the RBI said.
Under the framework, it is aimed to ensure fair access through transparent, safe, and efficient trading processes, robust trading infrastructures and
prevent market abuse, thirteen ETPs operated by five operators have since been authorised, RBI said.
The RBI kept repo rate unchanged in the February monetary policy at 6.50 percent.
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