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of <h1>Commodity Derivatives Exchanges Must Follow SEBI Rules; Penalties Allocated to Settlement and Investor Protection Funds</h1> Every commodity derivatives exchange must adhere to the provisions applicable to recognized stock exchanges as specified by the Securities and Exchange Board of India (SEBI). Existing clearing and settlement arrangements can continue for up to three years from the 2015 amendment commencement, with certain regulations still applicable. Commodity derivatives exchanges are restricted to activities related to commodity derivatives and options in securities unless permitted by SEBI. National exchanges must allocate settlement penalties to the Settlement Guarantee Fund and other penalties to the Investor Protection Fund, while regional exchanges must allocate all penalties to the Settlement Guarantee Fund. Exchanges must ensure trade settlement guarantees, including good delivery.
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