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Electronic Trading Platform (ETP) are electronic system, other than a recognised stock exchange, on which transactions in eligible instruments like securities, money market instruments, foreign exchange instruments, derivatives, etc. are contracted.
Reserve Bank said the Alert List contains names of entities/platforms/websites which appear to be promoting unauthorised entities.
The Reserve Bank of India (RBI) on Friday added 19 entities/platforms/websites to its Alert List of unauthorised forex trading platforms from which people need to stay away as they are illegal.
The Reserve Bank of India has updated its 'Alert List' of unauthorised forex trading platforms, adding 19 new ones to the total of 75. The list includes entities not authorized to deal in forex under the FEMA or operate ETPs for forex transactions. The RBI stated that the list is not exhaustive and should not be assumed to be authorised.
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