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Business News/ Market / Stock-market-news/  Sebi eases currency derivatives rules
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Sebi eases currency derivatives rules

Sabi says market participants will have to gradually bring down their open positions to comply with applicable limits within a time period specified by the stock exchanges

India allows market participants to have open position of upto 15% of the total open interest, or $100 million gross open limit for USD/INR pair, whichever is higher. Photo: Aniruddha Chowdhury/MintPremium
India allows market participants to have open position of upto 15% of the total open interest, or $100 million gross open limit for USD/INR pair, whichever is higher. Photo: Aniruddha Chowdhury/Mint

Mumbai: The Securities and Exchange Board of India (Sebi) on Wednesday clarified that in order to ease trading requirements in the currency derivatives segment, the position limit linked to open interest will be applicable at the time of opening a position.

Such positions will not be required to be unwound in the event of a drop of total open interest in a currency pair at the stock exchange, Sebi said.

However, during such an event the market participants will not be allowed to increase their existing positions or create new positions in the currency pair till they comply with the applicable position limits, Sebi clarified.

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ABOUT THE AUTHOR
Anirudh Laskar
Anirudh reports on significant corporate matters including large mergers and acquisitions, India's emerging e-commerce sector and regulatory issues in the corporate and financial services industry. Over the past 17 years, he has covered many beats including banking, NBFCs, aviation, automobile, insurance, markets, SEBI, IRDAI, mutual funds, investment banking, private equity, deals, and conglomerates.
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Published: 22 Jun 2016, 07:07 PM IST
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