The Reserve Bank of India (RBI) has decided to review the regulatory framework for electronic trading platforms (ETPs). 

This follows requests made by market makers to access offshore ETPs offering permitted Indian rupee products.

Over the last few years, there has been increased integration of the onshore forex market with offshore markets, notable developments in the technology landscape and an increase in product diversity. 

In October 2018, the RBI had put in place a regulatory framework for ETPs for executing transactions in financial instruments regulated by it. 

Under the framework, which aimed to ensure fair access through transparent, safe, and efficient trading processes, robust trading infrastructures and prevent market abuse, thirteen ETPs operated by five operators have since been authorised.

“In view of these developments, it has been decided to review the regulatory framework for ETPs. The revised regulatory framework will be issued separately for public feedback,” RBI said in a statement.