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of <h1>RBI and SEBI Set Guidelines for Exchange Traded Currency Derivatives; Position Limits and Certification Detailed.</h1> A committee formed by RBI and SEBI has established guidelines for Exchange Traded Currency Derivatives. Recognized Stock Exchanges and their Clearing Corporations must adhere to specific criteria to trade in these derivatives, including compliance with product design, surveillance, and membership separation. Banks can become Clearing or Trading Members if authorized by RBI, with the ability to act on their own or for clients. A certification program is required for Trading Members, except banks for one year. Position limits are set at 15% of total open interest or a specified USD amount, with higher limits for banks. This circular aims to protect investors and regulate the securities market.
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