Circular, CIR/MRD/DP/23/2014,
dated 24th July, 2014
Clarification on position limits of domestic
institutional investors for currency derivatives contracts
SEBI
vide circular no. CIR/MRD/DP/20/2014 dated June 20, 2014 had revised position
limits for the market participants in the permitted currency pairs.
2. In this regard, it is clarified
that domestic institutional investors shall have position limits as mentioned
at para 12.(a) of the SEBI circular CIR/MRD/DP/20/2014 dated June 20, 2014,
subject to such domestic institutional investors being permitted by their
respective sectoral regulators to participate in the currency derivatives
segment.
3. It is further clarified that
banks, whether participating in the currency derivatives segment as clients or
as stock brokers, shall be guided by the provisions mentioned at para 3 of the
RBI A.P. (DIR Series) Circular no. 147 dated June 20, 2014 while trading in the
currency derivatives segment.
4. Stock Exchanges and Clearing
Corporations are directed to:
(a) take necessary steps to put in
place systems for implementation of the circular, including necessary
amendments to the relevant bye-laws, rules and regulations.
(b) bring the provisions of this
circular to the notice of the stock brokers / clearing members and also
disseminate the same on their website;
(c) communicate to SEBI the status
of implementation of the provisions of this circular.
5. This circular is being issued in
exercise of powers conferred under Section 11 (1) of the Securities and
Exchange Board of India Act, 1992 to protect the interests of investors in
securities and to promote the development of, and to regulate the securities
market.
.
.
.
0 comments:
Post a Comment