Bank participation in interest rate derivatives market permitted, limited to proprietary trading and subject to regulator directions. SEBI permits specified banks to become exchange members for interest rate derivatives trading, subject to exchange governing body recommendation. Membership is restricted to proprietary dealings-banks may trade only on their own account-and banks are prohibited from acting as members or agents for clients in any exchange segment. Banks must abide by RBI and SEBI circulars and directions. Exchanges are directed to amend bye-laws, notify members, disseminate the provisions publicly, and report implementation to SEBI in the Monthly Development Report.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
Bank participation in interest rate derivatives market permitted, limited to proprietary trading and subject to regulator directions.
SEBI permits specified banks to become exchange members for interest rate derivatives trading, subject to exchange governing body recommendation. Membership is restricted to proprietary dealings-banks may trade only on their own account-and banks are prohibited from acting as members or agents for clients in any exchange segment. Banks must abide by RBI and SEBI circulars and directions. Exchanges are directed to amend bye-laws, notify members, disseminate the provisions publicly, and report implementation to SEBI in the Monthly Development Report.
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