Commodity Regulatory Developments Overview: May 2015
FMC circulars
May 19, 2015
• Suspension of trade, refund of member liabilities
In view of some recognized commodity exchanges
suspending their trading operations to protect the interests of members and
clients, the FMC issued directives to refund member margins and deposits.
(FMC/1/2015/C/25
No.9/1/2014-MKT-I (VOL-II))
MCX circulars
May 27, 15
• Amendment to business rules
Members of the exchange were notified that
existing business rule 5.7 on membership had been modified and replaced. The
new rules states that “the Exchange has absolute discretion to modify and/ or
cancel any of the terms and conditions related to membership specified by the
Exchange. All types of memberships … are transferable intra-class, after expiry
of three years.…” (MCX/MEM/155/2015).
May 14, 2015
• Revised methodology for calculating validity period of mentha oil
MCX informed its members about the revision in
methodology for calculating the validity period of mentha oil stored in
exchange-accredited warehouses (MCX/WHL/147/2015).
May 05, 2015
• Imposition of additional margins on mentha oil contracts
From May 7, 2015, an additional margin of 10%
(cash) on long (buy) side and on short (sell) side on mentha oil in May,
June, and July 2015 contracts was imposed
(MCX/T&S/140/2015).
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