Eligibility criteria for foreign index derivatives permit exchanges to list INR settled contracts subject to broad based index rules. Permits exchanges to introduce futures and options on foreign stock indices subject to Annexure 1 guidelines: indices must be listed on Annexure A exchanges and either rank among the top 15 index derivatives by trading volume or have market capitalization of at least USD 100 billion, and be broad based (minimum ten constituents; no single constituent over 25% free float). If eligibility fails for three consecutive months, no fresh contracts may be introduced though existing contracts run to expiry. Contracts are denominated, traded and settled in Indian Rupees; exchanges must submit a risk management framework; domestic position limits and disclosure rules apply; trading restricted to residents.