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of <h1>SEBI Sets Position Limits for Cross-Currency Futures and Options at IFSCs to Protect Investors and Regulate Markets.</h1> The Securities and Exchange Board of India (SEBI) issued a circular establishing position limits for cross-currency futures and options contracts (excluding those involving the Indian Rupee) on exchanges in International Financial Services Centres (IFSC). Trading members and institutional investors are limited to a gross open position not exceeding 15% of total open interest or USD 1 billion equivalent per currency pair per stock exchange. Eligible foreign investors have the same limits, while other clients are restricted to 6% or USD 100 million equivalent. Stock exchanges must enforce penalties for breaches. This circular is issued under the SEBI Act, 1992, to protect investor interests and regulate the securities market.
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