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of <h1>SEBI Issues New Guidelines for Algorithmic Trading on Commodity Derivatives Exchanges, Enforcing Fair Practices and Risk Controls.</h1> The circular issued by the Securities and Exchange Board of India (SEBI) outlines comprehensive guidelines for algorithmic trading on national commodity derivatives exchanges. It consolidates previous norms and mandates exchanges to ensure system capabilities to manage trading loads, maintain fair trading practices, and implement risk control mechanisms. The circular prohibits certain trading strategies that could hinder price discovery and liquidity. It also sets economic disincentives for high order-to-trade ratios and mandates regular system audits. Exchanges must ensure that algorithmic trading is conducted through approved systems and maintain transparency and compliance with SEBI's regulations. The guidelines take effect from September 29, 2016.
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