CDSL inaugurates its first branch at GIFT IFSC

Central Depository Services (India) Ltd, India's first listed depository, on Monday inaugurated its first branch at the GIFT City here, introducing delivery-based trading to the existing list of products traded at the IFSC, a senior official said.

This is the first depository to start its operations in the Gujarat International Finance Tec-City (GIFT City), said Nehal Vora, managing director and chief executive officer, CDSL.

Vora said the operation of CDSL at the IFSC has been launched following requisite approval from markets regulator Sebi.

He said that to start with, 2-3 depository participants have expressed interest to start operations in GIFT City, India's first international financial services centre (IFSC).

"Being a regulator ourselves, we are subjecting ourselves to higher level of transparency in terms of disclosures for these kinds of institutions. Opening an IFSC branch is the first of the many initiatives we propose in taking the entire business of CDSL to the next ...