GIFT City brokers use gap licenses for proprietary trading
Business
Brokers in Gujarat's GIFT City are now using the Global Access Provider (GAP) license mainly for their own trading, instead of just helping Indian clients reach international markets.
Out of 14 GAP license holders, seven are using this new approach, making proprietary trading the hot trend.
Direct access accelerates GIFT City deals
By trading for themselves, brokers can connect directly with global players (no middlemen needed), so deals happen quicker.
Companies like Junomoneta International IFSC and K2J Global (IFSC) have already jumped on board.
Plus, the setup is cost-friendly: fees are capped at $10,000 per quarter and businesses in GIFT City get a 20-year tax holiday on profits from global trades.