Subscription   Feedback   New User   Login      
Tax Management India .com
TMI - Tax Management India. Com
Articles Highlights TMI Notes SMS News Newsletters Calendar Imp. Links Database Experts Contact us More....
Extracts
Home List
← Previous Next →

Participation of Standalone Primary Dealers in Currency Futures Market

News and Press Release - Dated:- 18-3-2016 - RBI/2015-16/339 FMRD.FMD.No. 02.03.183/7/2015-16 March 17, 2016 All Standalone Primary Dealers Dear Sir, A reference is invited to A.P. (DIR Series) Circular No. 05 dated August 06, 2008, in terms of which persons resident in India are permitted to participate in the currency futures market in India subject to directions contained in the Currency Futures (Reserve Bank) Directions, 2008 [Notification No.FED.1/DG(SG)-2008 dated August 6, 2008] as amende .....

X X X X X X X

Extract - Part text only
Click here to Access Full Contents

X X X X X X X

king diversified activity will be allowed to participate in currency futures. As prescribed in the existing guidelines on capital adequacy standards, the capital charge for market risk for the non-core activities (including currency futures) which are expected to consume capital should not be more than 20 per cent of the NOF as per last audited balance sheet. Membership: PDs are permitted to participate in the currency futures market either as clients or direct trading / clearing members of the .....

X X X X X X X

Extract - Part text only
Click here to Access Full Contents

X X X X X X X

y pairs shall not exceed the limits as mentioned below: Currency Pairs Position Limits USD-INR Gross open position across all contracts shall not exceed 15% of the total open interest or USD 50 million, whichever is higher. EUR-INR Gross open position across all contracts shall not exceed 15% of the total open interest or EUR 25 million, whichever is higher. GBP-INR Gross open position across all contracts shall not exceed 15% of the total open interest or GBP 25 million, whichever is higher. JP .....

X X X X X X X

Extract - Part text only
Click here to Access Full Contents

X X X X X X X

ucture in terms of systems and manpower for participation in currency futures. General: For capital adequacy purpose, PDs may adhere to the guidelines given in Annex to this circular and other instructions prescribed in the Master Circular on Capital Adequacy Standards and Risk Management Guidelines for Standalone Primary Dealers dated July 1, 2015 and as updated from time to time for providing capital charge for various risks arising from outstanding contracts. In case of failure to meet the ob .....

X X X X X X X

Extract - Part text only
Click here to Access Full Contents

X X X X X X X

 

 

 

 

 

what is new what is new
  ↓     bird's eye view     ↓  


|| Home || Acts and Rules || Notifications || Circulars || Schedules || Tariff || Forms || Case Laws || Manuals ||

|| About us || Contact us || Disclaimer || Terms of Use || Privacy Policy || TMI Database || Members || Site Map ||

© Taxmanagementindia.com [A unit of MS Knowledge Processing Pvt. Ltd.] All rights reserved.

Go to Mobile Version