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of <h1>SEBI Sets Position Limits for FPI Participation in Currency Derivatives; Defines Terms for Futures and Options Trading.</h1> The circular issued by SEBI on June 20, 2014, outlines the participation of Foreign Portfolio Investors (FPIs) in the currency derivatives segment and sets position limits for currency derivatives contracts. FPIs are allowed to trade in currency futures and options, subject to specific terms and conditions, including position limits per currency pair. These limits are USD 10 million, EUR 5 million, GBP 5 million, and JPY 200 million per stock exchange without underlying exposure. Compliance monitoring is primarily the responsibility of FPIs, with clearing corporations and custodians playing supportive roles. The circular also revises participation requirements for domestic clients and specifies position limits for various market participants.
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