International Financial Services Centres Authority (IFSCA)
Recently, the European Commission (EU) has granted ‘equivalence status’ to Central Counter Parties (CCPs) supervised by IFSCA.
- CCPs embed themselves between counterparties to contracts traded in one or more markets. These become buyers for each seller and sellers for each buyer.
- IFSCA is headquartered in GIFT City, Gandhinagar. It was established in the year It was established under the International Financial Services Centers Authority Act, 2019.
- IFSCA is a unified authority for the development and regulation of financial products, financial services and financial venues in the International Financial Services Center (IFSC) in India.
Source – The Hindu