Access to Indian Securities Markets

PhillipCapital India Private Limited – DIFC Branch is a DFSA regulated entity providing service to FPI & NRI clients in the MENA region. We have a dedicated Dealing Desk based in DIFC, Dubai for servicing FPI (Foreign Portfolio Investors) & NRI (Non-Resident Indians) clients. The company has a Category 3A license with retail endorsement, from DFSA.

PhillipCapital India Private Limited – DIFC Branch provide services to 2 categories of clients:

Foreign Portfolio Investors (FPI)
Non-Resident Indians (NRI)

Foreign Portfolio Investors (FPI)

Who are Foreign Portfolio Investors (FPI)?
In India, Foreign Portfolio Investment (FPI) refers to investment made by foreign investors in the financial assets of Indian companies. FPIs can invest in cash market, trade in derivatives (futures and options), currencies and commodities, listed on National Stock Exchange (NSE), Bombay Stock Exchange (BSE), Multi Commodity Exchange (MCX) and National Commodity and Derivatives Exchange (NCDEX).

FPIs are regulated by the Securities and Exchange Board of India (SEBI). SEBI has set up a framework for FPIs to register with it and to comply with certain regulations. This framework is designed to protect the interests of investors and to ensure the orderly development of the Indian securities market.

How can FPIs access Indian Markets?
A DDP (Designated Depository Participant) is an entity that is authorized by SEBI to hold securities in electronic form on behalf of FPIs. There are 20+ DDPs registered as Custodians with SEBI, which overlook the trade activities and settlement procedure for FPIs. The DDP will provide the FPI with a demat account and act as an Custodian, which holds securities in electronic form. A broker is an entity that is authorized by SEBI to buy and sell securities. The registered broker execute the FPI’s trades on the stock exchange.

Non-Resident Indians (NRI)

PhillipCapital India serves NRI clients under 2 account options:

Non-Resident Ordinary (NRO) Account: Under NRO account, client can invest in Cash Market and also trade in Derivatives.
Non-Resident External (NRE) Account: Under NRE account, client has to first obtain PIS (Portfolio Investment Scheme) account from an Indian bank (as per SEBI guidelines), for making investments in the cash market. Client can only invest in Cash Market.

*Please note intraday trading is not allowed for NRI clients except for derivatives segment in NRO account.