Commodity derivatives market regulation: consolidated SEBI framework imposing governance, product, warehousing, risk and cyber resilience norms. Master Circular consolidates SEBI directives for the commodity derivatives market requiring exchanges to comply with SCRA and SECC Regulations, segregate clearing and settlement to a separate clearing corporation within timelines, satisfy networth, ownership and governance norms, and maintain oversight, compliance and disclosure regimes. It prescribes uniform trading/product rules (UCC/PAN, DPL, position limits, options design), detailed warehousing accreditation and operational standards for WSPs/assayers, and a comprehensive risk management framework (real time margins, ELM, concentration margins, SGF, BMC, risk reduction mode). Technology, annual system audits, BCP/DR and a cyber security/resilience framework are mandated.
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Provisions expressly mentioned in the judgment/order text.
Commodity derivatives market regulation: consolidated SEBI framework imposing governance, product, warehousing, risk and cyber resilience norms.
Master Circular consolidates SEBI directives for the commodity derivatives market requiring exchanges to comply with SCRA and SECC Regulations, segregate clearing and settlement to a separate clearing corporation within timelines, satisfy networth, ownership and governance norms, and maintain oversight, compliance and disclosure regimes. It prescribes uniform trading/product rules (UCC/PAN, DPL, position limits, options design), detailed warehousing accreditation and operational standards for WSPs/assayers, and a comprehensive risk management framework (real time margins, ELM, concentration margins, SGF, BMC, risk reduction mode). Technology, annual system audits, BCP/DR and a cyber security/resilience framework are mandated.
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