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Market Infrastructure Institutions

IFSCA (Market Infrastructure Institutions) Regulations, 2021, as amended up to November 01, 2024.




IFSCA (Market Infrastructure Institutions) Regulations, 2021 provide for a unified regulatory framework for Stock Exchanges, Clearing Corporations and Depositories (MIIs) operating in IFSC. The MIIs provide the necessary infrastructure for listing, trading, clearing and settlement of securities and form the crucial pillars of the capital market ecosystem. At present, there are two Stock Exchanges, two Clearing Corporations and one Depository in IFSC.


Circulars
Sr. No.DateTitleView
1 22/06/2021 Introduction of Negotiated Large Trade facility on stock exchanges  
2 22/06/2021 Status of transactions executed at DR site of MIIs  
3 13/09/2021 Code of Conduct and Code of Ethics for Directors and KMPs of MIIs  
4 30/11/2021 Clarification regarding disclosure of dealing in securities by Directors and Key Management Personnel of the all recognized MIIs in GIFT-IFSC  
5 16/12/2021 Settlement for all trades executed on Stock Exchanges in IFSC: At least once in a day  
6 11/03/2022 Negotiated large trade facility on stock exchanges  
7 31/03/2022 Guidelines for Liquidity Enhancement Scheme on Stock Exchanges  
8 28/06/2022 Committees at Market Infrastructure Institutions (MIIs) in IFSC  
9 09/09/2022 Amendment to guidelines for Liquidity Enhancement Scheme  
10 16/11/2022 Guidelines for Business Continuity Plan (BCP) and Disaster Recovery (DR) for Market Infrastructure institutions (MIIs)  
11 21/06/2023 Direct Market Access Facility  
12 23/06/2023 Co-location facility offered by the Stock Exchanges  
13 03/04/2024 Remote Trading Participants on Stock Exchanges in the IFSC  
14 11/02/2025 The Stock Exchanges in the International Financial Services Centre (IFSC)  
15 07/03/2025 Contribution to Settlement Guarantee Fund (SGF)  

Forms
Sr. No.TitleView
1 Application form for recognition of Stock Exchange in IFSC  
2 Application form for recognition of Clearing Corporation in IFSC  
3 Application form for recognition of Depository in IFSC  
4 Format of Monthly Activity Report for Stock Exchange  
5 Format of Monthly Development Report for Stock Exchange  
6 Format of Monthly Report for Clearing Corporation  

Statistics
Sr. No.TitleView
1 Turnover of Stock Exchanges in IFSC (April-June, 2023)  
2 Turnover of Stock Exchanges in IFSC (July-September, 2023)  
3 Turnover of Stock Exchanges in IFSC (October-December, 2023)  
4 Turnover of Stock Exchanges in IFSC (January-March, 2024)  

List of registered Market Infrastructure Institutions
Sr. No.Category of MIIName of MII
1 Stock Exchange India International Exchange (IFSC) Limited
2 Stock Exchange NSE IFSC Limited
3 Clearing Corporation India International Clearing Corporation (IFSC) Limited
4 Clearing Corporation NSE IFSC Clearing Corporation Limited
5 Depository Depository India International Depository IFSC Limited

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