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of <h1>SEBI Approves Derivative Trading at NSE and BSE; Exchanges Must Form Governing Boards, Appoint CEOs Within Two Months.</h1> The Securities and Exchange Board of India (SEBI) has approved the commencement of derivative trading and settlement at the National Stock Exchange of India and the Stock Exchange, Mumbai. Within two months of SEBI's final approval, these exchanges must establish a Governing Board, Clearing Council, and Statutory Committees, and appoint Chief Executive Officers for both the Derivative Exchange/Segment and the Derivatives Clearing House/Corporation. The Governing Board must comprise at least 60% public representatives, while the Clearing Council should have no trading or clearing member representation. All appointments require SEBI's prior approval, and specific guidelines are provided for the structure and responsibilities of these entities.
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