Permission for trading in futures contracts allows exchanges to approve and modify specifications subject to prior notice, regulator oversight. Exchanges must submit proposals for new or renewed futures contracts with complete check list information; continuous trading approvals are conditional on compliance with exchange rules, fixed contract specifications and launch calendars, open position and price fluctuation limits, daily mark to market settlement, delivery procedures, and prevention of speculative cornering. Certain specification parameters may be modified at exchange level (e.g., ticker, trading unit, tick size, delivery centres, quality tolerances) provided exchanges give prior notice and reasons to market participants and the regulator; substantive changes or re launches require prior SEBI approval.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
Permission for trading in futures contracts allows exchanges to approve and modify specifications subject to prior notice, regulator oversight.
Exchanges must submit proposals for new or renewed futures contracts with complete check list information; continuous trading approvals are conditional on compliance with exchange rules, fixed contract specifications and launch calendars, open position and price fluctuation limits, daily mark to market settlement, delivery procedures, and prevention of speculative cornering. Certain specification parameters may be modified at exchange level (e.g., ticker, trading unit, tick size, delivery centres, quality tolerances) provided exchanges give prior notice and reasons to market participants and the regulator; substantive changes or re launches require prior SEBI approval.
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