ISSUING AUTHORITY : SECURITIES AND EXCHANGE BOARD OF INDIA
DATE OF ISSUE : 20/01/2014
EFFECTIVE DATE : IMMEDIATE EFFECT
CIRCULAR NO. : CIR/MRD/DRMNP/2/2014
SEBI in consultation with RBI prescribed the framework for Stock Exchanges to launch cash settled Interest Rate Futures on 10-year G-sec.
The following position limits were prescribed for FIIs:
The gross open positions of the FII across all contracts shall not exceed 10% of the total open interest or INR 600 crores, whichever is higher.
Additional restriction:
CIR/MRD/DRMNP/2/2014
SEBI in consultation with RBI prescribed the framework for Stock Exchanges to launch cash settled Interest Rate Futures on 10-year G-sec.
The following position limits were prescribed for FIIs:
The gross open positions of the FII across all contracts shall not exceed 10% of the total open interest or INR 600 crores, whichever is higher.
Additional restriction:
- Total gross short (sold) position - Not to exceed its long position in the government securities and in Interest Rate Futures, at any point in time.
- Total gross long (bought) position - Not to exceed the aggregate permissible limit for investment in government securities for FIIs.
CIR/MRD/DRMNP/2/2014
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