Due Date Rate fixation requires committee-led spot price polling, audio recording and Board approval with preservation and reporting obligations. Regional Commodity Derivatives Exchanges must fix the Due Date Rate through a board-level DDR Committee (majority non-trading members) that establishes a 15-member Spot Price Polling Panel from upcountry entities. Spot prices are polled by telephone with speaker on, recorded and retained for six months; polling occurs once daily during peak hours and the average of the last three days' available spot prices (not earlier than seven days before due date) is used. The Committee recommends DDR to the Board, which must approve or record reasons for modification; DDR is announced and records sent to the regulator.
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Provisions expressly mentioned in the judgment/order text.
Due Date Rate fixation requires committee-led spot price polling, audio recording and Board approval with preservation and reporting obligations.
Regional Commodity Derivatives Exchanges must fix the Due Date Rate through a board-level DDR Committee (majority non-trading members) that establishes a 15-member Spot Price Polling Panel from upcountry entities. Spot prices are polled by telephone with speaker on, recorded and retained for six months; polling occurs once daily during peak hours and the average of the last three days' available spot prices (not earlier than seven days before due date) is used. The Committee recommends DDR to the Board, which must approve or record reasons for modification; DDR is announced and records sent to the regulator.
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