look news india
Ahmedabad: The Securities and Exchange Board of India (Sebi) is expected to issue final guidelines for derivatives trading by the end of September, informed sources said. The new norms are likely to be similar to those proposed in the draft circular.
The market regulator has received thousands of suggestions from interested parties on the draft circular till August 20. However, while the suggestions in the consultation paper are being reviewed, sources said the proposals included in the draft circular will not be changed.
Sebi will consider the suggestions in the next 10 days, call a meeting and implement the new guidelines, the suggestions will first go to the Secondary Market Advisory Committee and then to the Sebi board, which is likely to meet in September.
Sources also said it is likely that when the higher securities transaction tax (STT) on futures and options trading is implemented on October 1, the Sebi rules will also be applicable.
The regulator had on July 30 issued a consultation paper with seven proposals aimed at curbing excessive trading activity in the options segment on the expiry day and increasing the minimum contract size requirement.
According to experts, this will not only make it difficult for small investors to trade in the futures and options segment but will also impact the income of exchanges and brokerage firms.
