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<h1>SEBI Circular Updates Spot Price Polling Norms for Commodity Derivatives Exchanges, Enhancing Transparency and Accountability.</h1> The circular issued by SEBI on September 2, 2016, addresses the spot price polling mechanism for commodity derivatives exchanges. It consolidates and updates norms from the erstwhile FMC. Exchanges must maintain transparency in the spot price polling process, document their policies, and display detailed information about the mechanism on their websites. They are required to disclose participant details, increase sample sizes, and review unrealistic price polling. A feedback system for complaints is mandated. The circular's provisions take effect on September 29, 2016, superseding previous directives, and exchanges must amend their regulations accordingly.