The Securities and Exchange Board of India’s (Sebi’s) decision to allow omnibus structures at Gujarat International Finance Tec-city (Gift City), an international financial services centre (IFSC), has come as a boost for domestic brokerages.
According to the rules, any eligible foreign investor (EFI) or a broker (member) registered at IFSC can now offer omnibus structures to their clients. This allows Indian brokerages, who are registered as members at the Gift City, to offer 'omnibus account facility’ to foreign investors, which will allow them to ...
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