New Delhi: To keep a close vigil on the commodities market, the Securities and Exchange Board of India (Sebi) on Wednesday asked commodity bourses to submit elaborate monthly reports with details such as trading volumes, investor complaints and corporate governance aspects.
Commodities markets have come under the regulatory ambit of Sebi following the merger of FMC with the capital markets regulator in September.
In the circular, Sebi said commodity derivative exchanges would have to submit a monthly report in a prescribed format from April 2015 onwards. The report has to reach Sebi by seventh of the succeeding month.
In a move that would ensure more transparency in the functioning of commodity exchanges, they would now also be required to disclose details about the composition of their governing board and important decisions taken, among others.
Further, they will have to provide detailed status pertaining to implementation of directions issued by Sebi from time to time.
Under the format, commodity bourses would have to provide information about the number of trading days, total value as well as volume of trade, total number of contracts traded for agri and non agri commodities, number of contracts available for trading and movement of the indices.
They need to disclose about trading terminals like total number of trading terminals set up across the country and abroad.
Settlement shortages for each segment, penalty imposed by it and non-collection of margins, among others, too would need to be disclosed on a monthly basis.
Besides, they have been asked to provide information with regard to defaulter along with disciplinary action taken against its members.
Sebi has also directed them to furnish details about the number of members inspected during a particular month.
In the monthly report, commodity exchanges will have to give latest information about corpus maintained in their settlement guarantee funds.
Further, they need to inform about complaints received against brokers, complaints referred by Sebi, among others.