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of <h1>SEBI Sets New Risk Management Rules for Commodity Derivatives Exchanges Starting January 2016; Focus on Transparency and Compliance.</h1> The circular issued by SEBI outlines a comprehensive risk management framework for national commodity derivatives exchanges, effective from January 1, 2016. It mandates recognized associations under the Forward Contracts (Regulation) Act to align with the Securities Contracts (Regulation) Act. The framework includes provisions for liquid assets, initial margins, extreme loss margins, additional margins, and delivery period margins. Exchanges must ensure compliance with these provisions, amend relevant rules, and report implementation status to SEBI. The framework also specifies requirements for mark-to-market settlements, base minimum capital, and risk reduction modes, emphasizing transparency and objective criteria in risk management practices.
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