1. SEBI vide circular SEBI/HO/CDMRD/DRMP/CIR/P/2016/77 dated
September 01, 2016 on “Additional risk management norms for National
Commodity Derivatives Exchanges” had inter-alia prescribed that margin
benefit on spread positions shall be entirely withdrawn latest by the start of
the tender period or Expiry-6th day, whichever is earlier.
2. After examination of the various representations received in this regard, it
has been decided that margin benefit on spread positions shall be entirely
withdrawn latest by the start of tender period or the start of the expiry day,
whichever is earlier.
3. The exchanges are advised to bring the provisions of this circular to the
notice of their members and also to disseminate the same on their
website.
4. This circular is issued in exercise of the powers conferred under Section
11 (1) of the Securities and Exchange Board of India Act, 1992, to protect
the interests of investors in securities and to promote the development of,
and to regulate the securities market.
5. This circular is available on SEBI website at www.sebi.gov.in
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