If you don’t ask the right question, you don’t get the right answer.

Some of the major advantage of tokenisation. 1) Deeper financial inclusion with more fractionalisation of shares 2) Instantaneous settlement (better from risk perspective) 3) 24/5 trading, if not 24/7 4) More assets can be tokenised and taken for trading

Hello…anyone even talking about tokenisation in India. @SEBI_updates @RBI @ashishchauhan @Nithin0dha @lkeshre @BeingPractical @DineshThakkar @FinMinIndia @nsitharamanoffc @NSEIndia @BSEIndia @OfficialAnmi @ananthng

The biggest advantage of tokenisation can be instantaneous settlement (lower risk), lower cost of transaction, deeper financial inclusion and ability to bring more asset classes like real estate, paintings etc. to real time trading.

India even does not talk about it. India was ahead of RoW when it came to adoption of electronic trading but when it comes to on-chain technology (tokenisation), we are not even talking about it. @SEBI_updates @RBI @Nithin0dha @lkeshre @BeingPractical @DineshThakkar

Many criticised Nithin for speaking against closing our market on BMC election, and few gave example of other markets. Today, it is a holiday in US - cash market is closed but derivatives market is open. India needs to extend trading hours in derivatives to cope with volatility.

Imagine a scenario, where both spot and futures on gold is available on same screen as it is in equity - cash and F&O on same screen.

More we take time on both - a transparent spot market and FPIs also allowed in derivatives, higher the chances, we miss the opportunity to become a price setter in a product which is fast becoming new reserve asset for the world.

China has two exchanges - SGE for spot and SHFE for derivatives. Unfortunately, in India, spot market is not under SEBI and there is no intent either by govt or any regulatory body to institutionalise the spot market.

India has a very high chance of becoming the price setter in gold and silver if @SEBI_updates allows FPIs in deliverable commodities. Most of the markets are trying to be price setter in gold integrating spot and derivatives contract.

Why India needs a special category of digital banks license or facilitate use of latest technology to reduce the cost. FX remittance has been one of the big money spinners for banks because they enjoyed oligopolistic structure protected by central banks.

“We’re also seeing a continued blurring of the lines between retail and institutional participants”…said CME CEO in this interview. Are we even ready to welcome the global retail to India? @SEBI_updates @FinMinIndia @Nithin0dha @lkeshre @DineshThakkar @tejaskhoday

SEBI should also look into how it can ease the investing for NRIs and Foreign Nationals in India.

Retail is now the driving force across most of the asset classes as information access and knowledge gap keeps flattening with technology and AI.

Given the way, world is getting fragmented, and so are the markets, risk management should be more important than looking at anything else. @SEBI_updates @RBI @FinMinIndia @nsitharamanoffc @nsitharaman @PMOIndia @ananthng

If as an individual, one can do fund transfer through banking channel anytime during the day, including on weekend, why not trading? The way banks are supposed to manage the liquidity, so should be exchanges for longer trading hours.

To become a price setter, in any product, first thing our market needs to offer is round the clock trading, policy coherency and robust clearing and settlement system.

If GIFT City exchanges can trade for 21/22 hours, why not NSE, BSE or MCX or any other exchange. It is not about promoting derivatives trading, as many would feel, but better risk management, and providing policy coherency. @lkeshre @BeingPractical @DineshThakkar

Hence, Indian exchanges and regulators as well as brokers need to get over the 9 am to 3:30 pm mindset and plan for 21/22 hours derivatives trading, across 5 days until we see weekend volume picking up in real sense. Let people decide, what and when they want to trade.

In fact, one of the reasons, exchanges are becoming the main price discovery platforms for most products, as it can offer almost 24 hours trading, and risk management can be done on real time basis.

That’s the very reason, globally exchanges keep derivatives market open for 22/23 hours and now planning to go 24*7, looking at the way crypto exchange operate, and also planning to tokenise the products, to offer even faster settlement using block-chain. @SEBI_updates