Product Advisory Committee

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....oduct Advisory Committee (PAC) for each group/complex of commodities having common stakeholders/value chain participants, on which derivatives are traded or being proposed to be traded on the exchange. 1.1. Terms of Reference The PAC shall be consulted for the following: • Contract design on new commodities and review of design of existing contracts, to ensure that contract specifications represent the industry's needs: • alignment of quality/quantity specifications of the product with the physical market • choice of basis and additional delivery centers • appropriate premium/discount for additional deliverable quality/ delivery at additional delivery center, etc. • Disc....

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....dependent person with experience in the specific commodity) selected as such for the meeting based on attendees' choice. PAC shall have an exchange executive as Vice Chairman for administrative coordination/decision. 1.3. Proceeding of meetings a) The PAC shall meet at least twice a year and more frequently as and when required. b) The Exchange shall prepare the agenda for the meeting based on the views and requirements of value chain participants and also taking into account any suggestions/feedback/complaints received by the exchange regarding the commodity/contract. c) In the PAC meetings at least 50% members (excluding representative from exchange/Clearing Corporation) shall be present, including its chairman or vice chairma....