Eligibility criteria repeal for selection of underlying commodity futures removes turnover ranking requirement and requires exchanges to amend rules. The circular repeals the eligibility requirement that underlying futures be among the top five contracts by trading turnover for listing options on commodity futures, while retaining all other prior product-design provisions. The repeal is effective immediately; stock exchanges must amend bye-laws, notify brokers, publish the change, and report implementation to the regulator. The directive is issued under Section 11(1) to protect investors and regulate the market.
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Eligibility criteria repeal for selection of underlying commodity futures removes turnover ranking requirement and requires exchanges to amend rules.
The circular repeals the eligibility requirement that underlying futures be among the top five contracts by trading turnover for listing options on commodity futures, while retaining all other prior product-design provisions. The repeal is effective immediately; stock exchanges must amend bye-laws, notify brokers, publish the change, and report implementation to the regulator. The directive is issued under Section 11(1) to protect investors and regulate the market.
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