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of <h1>SEBI Issues New Guidelines for Liquidity Enhancement in Commodity Derivatives, Setting Incentive Limits for Exchanges.</h1> The Securities and Exchange Board of India (SEBI) issued guidelines for the Liquidity Enhancement Scheme (LES) in Commodity Derivatives Contracts. The guidelines allow stock exchanges to offer incentives, such as fee discounts or shares, limited to 25% of net profits or free reserves, or 25% of issued shares. New exchanges, within their first five years, are exempt from these limits but must cap incentives at 25% of their net worth and maintain a reserve for LES expenses. Exchanges must amend relevant regulations, inform brokers, and report implementation status to SEBI. The circular is effective immediately.
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