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of <h1>SEBI Permits Stock Exchanges to Choose Between European or American Style Options; Requires Approval for Style Changes.</h1> The Securities and Exchange Board of India (SEBI) has issued a circular allowing stock exchanges to offer either European or American style stock options. Once a style is chosen, all option contracts on eligible stocks must follow that style. The contract specifications and risk management frameworks for American style options will apply to European style options as well, with any changes requiring SEBI approval. Exchanges must implement necessary systems, amend regulations, and notify market participants at least one month before changing exercise styles. SEBI approval is required for any subsequent changes in exercise style. The circular is effective immediately.
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