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TMI BlogGuidelines for Due Date Rate (DDR) fixation for Regional Commodity Derivatives ExchangesX X X X Extracts X X X X X X X X Extracts X X X X ..... modity Derivatives Exchanges 1. As per Section 131 (4) of the Finance Act, 2015 all rules, directions, guidelines, instructions, circulars, or any like instruments, made by the erstwhile Forward Markets Commission (FMC) or the Central Government applicable to recognised associations under the Forward Contracts Regulation Act, 1952 (FCRA) would continue to remain in force for a period of one year ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 5. This circular is available on SEBI website at www.sebi.gov.in. Yours faithfully, Shashi Kumar General Manager Division of Risk Management and Products Commodity Derivatives Market Regulation Department Email: shashikumarv@sebi.gov.in Annexure Guidelines for Due Date Rate (DDR) fixation for Regional Commodity Derivatives Exchanges 1. Exchange shall have a DDR Committee which will b ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... s from upcountry markets for forming Spot Price Polling Panel. "Upcountry" means the centers that have been indicated in the bye-laws of the Exchange. At least 20% of the panelists will be changed every year. The committee will ensure that the entities/persons forming polling panel should not be related/connected to each other or to the DDR Committee members or to Directors of the Exchange. It mea ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... rm shall be maintained for a period of six months (in other words, audio recording of making calls has to be done and records maintained for minimum six months). 5. Average of the spot prices of last three days, on which spot prices are available, prior to the due date but not earlier than seven days would be considered for fixing DDR. The rates would be polled once a day during 1:00 p.m. to 4.00 ..... X X X X Extracts X X X X X X X X Extracts X X X X
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