Monday October 27 2025
News Source: Global Exchanges
Focus: Clearing & Settlement
Type: General
Country: India
On 27th October 2025, International Financial Services Centres Authority (IFSCA) issued a consultation paper on the proposal for dematerialization of securities by entities in the IFSC jurisdiction.
The securities issued by an entity in the IFSC are treated as foreign securities under the Foreign Exchange Management Act, 1999 and the rules and regulations made thereunder. In order to promote regulatory coherence, it has been decided that the entities in the IFSC jurisdiction shall obtain ISINs from a depository registered with IFSCA, instead of domestic depositories, for the purpose of dematerialisation of securities and other permitted financial products issued by them.
In order to provide sufficient time for transition, it has been decided that the entities in the IFSC that have already dematerialised their securities with the domestic depositories in India shall migrate such securities to a depository in the IFSC by March 31, 2026.
To ensure a smooth transition, a depository in IFSC shall:
- Ensure a seamless migration from domestic depositories to minimise disruption for issuers and investors.
- Facilitate adequate disclosures regarding the migration process, including account opening requirements and procedural guidance for issuers and investors.
Click on the above link for further information.
