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    <title>Introduction of Volatility Index</title>
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    <description>Exchanges are directed to construct and disseminate a Volatility Index and to publish the detailed computation methodology; they may adopt existing global models or develop their own. The methodology must be made available to market participants and investors. Derivatives on the Volatility Index will be considered later based on experience and market awareness. The circular is issued under the regulator&#039;s statutory market development powers and is effective from issuance.</description>
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