Markets regulator SEBI on Friday allowed exchanges to extend the trading time for equity derivatives till 11.55 pm from 1 October
It is for Sebi to consider if it would be kosher for a broker to offer softer brokerage rates to those opting for combo services as opposed to either commodity or stock services.
The Sebi chief said the immediate priority will be to ensure that the conduct of the market is in the best possible way in the interest of all the stakeholders.
Sinha said that after FMC's merger with Sebi, the capital market watchdog's approval is required if a commodity exchange wants to function as equity bourse as the process would not be automatic.
Under the relaxed norms, which were approved by Sebi's board today, the banks would be allowed to convert their debt into equity in a listed borrower entity that is in distress without applicability of the markets regulator's pricing formula in such conversions.
Government has exempted 38 more agriculture items from the ambit of the Commodity Transaction Tax (CTT), which was imposed in July 2013.
Financial Technologies India Ltd (FTIL) has suggested that government agencies, brokers and trading clients should "join forces" with National Spot Exchange Ltd (NSEL) to ensure recovery of Rs 5,300 crore from 24 defaulters.
The three-member committee headed by Justice (Retd) V C Daga will also have a solicitor and a chartered accountant, according to Advocate Ameet Naik, who represents NSEL in the case.<br />
Among the guidelines, the Finance Ministry has proposed to strengthen the Forward Markets Commission (FMC) with the power to cancel, suspend and debar the registration of an errant intermediary.<br />
Blackstone on Monday bought 2.79 percentstake in MCX for around Rs 81 crore, after the Forward Markets Commission gave the private equity giant its nod to hike holding in the commodity bourse to 4.99 percent.
FMC had appointed the Chokshi and Chokshi following an order of the Bombay High Court, which is hearing the case filed by aggrieved investors, directing the Commission to appoint a forensic auditor to examine e-series contracts executed at the troubled exchange and submit a report.
The petition was mentioned by FTIL Counsel Janak Dwarkadas before a bench headed by Chief Justice Mohit Shah which asked the market regulator to file reply by 6 January.
Forward Markets Commissions (FMC), which oversees commodities markets, removed its "fit and proper" designation for both Financial Technologies and its chief executive, Jignesh Shah - a status needed to operate an exchange in India.
The new officer will look after the Forward Markets Commission and works related with it.
Commodity exchanges have been demanding longer trading hours in sugar and soybean as against the present 10 A.M. to 5 P.M. slot.<br /><br />
Amid the deepening of payment crisis at the National Spot Exchange, the government is examining a proposal to bring commodity markets FMC under the purview of the Finance Ministry.
The NSEL affair got murkier today as regulator FMC cast doubts on its management and charged that the crisis-ridden spot exchange is not complying with its directions and providing wrong information in the case involving Rs 5,600 crore dues to investors.
The chairman of India's Forward Markets Commission said the regulator had no immediate worries that the National Spot Exchange Ltd (NSEL) could default on open contracts after the commodities exchange this week suspended trading in forward contracts.<br /><br />