Sebi reforms advisory panel on commodity derivatives
Sebi reforms advisory panel on commodity derivatives

New Delhi: Markets regulator Securities and Exchange Board of India (Sebi) has re-constituted its commodity derivatives advisory panel that examines issues related to contract designs and new products in the segment and also advises on matters connected to delivery mechanism and warehouses.

Reforming the advisory panel on commodity derivatives, Sebi said it now has 16 members in life of of 17. The panel would carry on to be chaired by retired IAS officer Ashok Dalwani, an update with the regulator showed. The other members of the panel include NSE MD and CEO Ashish Chauhan, chief of NCDEX Arun Raste and MCX MD and CEO P S Reddy.

The panel also has representatives from Sebi, Niti Aayog, RBI, finance ministry, National Bank for Agriculture and Rural Development (NABARD), Warehousing Development and Regulatory Authority (WDRA), Commodity Participants Association of India (CPAI), and MMTC.

In addituion, representatives of the commission for agricultural costs and prices, department of agriculture, cooperation and family welfare, department of consumer affairs, department of food and public distribution, and department of commerce are members of the committee.

The committee has been mandated to recommend steps for improving market safety, efficiency, transparency and integrity and reducing cost of transaction. In addition, the panel will examine issues related to contract designs and new products in commodity derivatives and to advise on matters in connection with delivery mechanisms and warehouses.

Sebi has also rolled out with a new framework for the governing council of social stock exchange, which will have an oversight on the functioning of the stock exchange.  It is is expected to provide guidance to facilitate the smooth functioning of the operations of the Social Stock Exchange (SSE) with regard to registration, fundraising and disclosures by social enterprises, it said in a circular.

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