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of <h1>SEBI Sets New Risk Management Norms for Commodity Derivatives Exchanges, Effective April 2016, Including Minimum Margins and Daily Settlements.</h1> The circular issued by SEBI outlines risk management norms for Regional Commodity Derivatives Exchanges, effective April 1, 2016. It mandates maintaining current member deposits, imposing a minimum 4% ordinary margin on open positions, and allowing additional margins based on evaluation. Exchanges can impose ad-hoc margins for unforeseen circumstances, ensuring transparency and objectivity. Margins must be computed at the client level, collected before trading, and covered by specified collateral forms. Daily mark-to-market settlement is required. Existing FMC norms remain unless covered by this circular. Exchanges must amend bylaws, inform members, and report implementation status to SEBI.
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