Review of recommendation of Dr. L.C Gupta Committee on Derivatives

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..... pta Committee on Derivatives. This is in continuation of SEBI Circular No. FITTC/DC/CIR-1/98 dated June 16, 1998 and Circular No. IES/DC/ 8726/00 dated May 31, 2000 regarding the eligibility criteria, market structure and governance of Derivative Exchange/Segment and their Clearing House/Corporation. SEBI had setup an Advisory Committee on Derivatives headed by Prof. J. R Varma to inter alia rev .....

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..... Clearing House/Corporation. The Dr. L.C Gupta Committee on Derivatives had permitted exiting stock exchanges having cash trading to trade in derivative contracts through a separate segment with separate membership. Henceforth, the derivative segment of an exchange and its Clearing House/Corporation shall be separate from the cash segment in the following areas- * The legal framework governing .....

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..... vative segment of an Exchange may have common personnel, trading terminal and infrastructure. 3. The condition of mandatory appointment of a Chief Executive Officer (CEO) of the derivative segment and its clearing house / corporation, as specified in SEBI circular dated May 31, 2002 is withdrawn. Henceforth, the Executive Director or the Managing Director of the Exchange and the clearing house/co .....

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