Sebi allows 'omnibus' trade structure at Gift City to ease market access

Permission for omnibus trading comes at a time when Indian exchanges have snapped ties with foreign bourses in order to curb offshore trading of Indian products

Capital market regulator Securities and Exchange Board of India (Sebi) on Thursday allowed ‘omnibus’ trades at the Gujarat International Finance Tec-city (GIFT City), India’s only international financial service centre (IFSC). An omnibus structure allows an investor trade through a broker or service provider with confidentiality. Such structures are allowed at major jurisdiction worldwide.

“With a view to further facilitate ease of market access for foreign investors and based on feedback received from market participants, it has been decided to permit segregated nominee account structure in IFSC,” Sebi said in a circular.

“Orders of foreign investors may be routed through eligible