FPIs shall ensure that their short positions at a stock exchange across all contracts in USD-INR pair do not exceed USD 15 million, says SEBI
(ii) EUR-INR, GBP-INR and JPY-INR currency pairs (all put together): USD 5 million”
SEBI further said, “FPIs shall ensure that their short positions at a stock exchange across all contracts in USD-INR pair do not exceed USD 15 million and do not exceed USD 5 million in EUR-INR, GBP-INR and JPY-INR pairs, all put together.”
In the event a FPI breaches the short position limit, stock exchanges shall restrict the FPI from increasing its existing short positions or creating new short positions in the currency pair till such time FPI complies with the said requirement.
To take long positions in excess of USD 15 million in USD-INR pair and in excess of USD 5 million in EUR-INR, GBP-INR and JPY-INR pairs, all put together, FPIs shall be required to have an underlying exposure in Indian debt or equity securities, including units of equity/debt mutual funds.
The SEBI has increased the limits in the rupee-dollar currency pair for foreign portfolio investors (FPIs) in the currency derivatives segment (for both long and short positions) from $10 million to $15 million without having any underlying exposure.
SEBI in a notification on Wednesday said, “FPIs may take long as well as short positions per stock exchange upto the following limit without having to establish the existence of any underlying exposure:(i) USD-INR currency pair: USD 15 million;
(ii) EUR-INR, GBP-INR and JPY-INR currency pairs (all put together): USD 5 million”
SEBI further said, “FPIs shall ensure that their short positions at a stock exchange across all contracts in USD-INR pair do not exceed USD 15 million and do not exceed USD 5 million in EUR-INR, GBP-INR and JPY-INR pairs, all put together.”
In the event a FPI breaches the short position limit, stock exchanges shall restrict the FPI from increasing its existing short positions or creating new short positions in the currency pair till such time FPI complies with the said requirement.
To take long positions in excess of USD 15 million in USD-INR pair and in excess of USD 5 million in EUR-INR, GBP-INR and JPY-INR pairs, all put together, FPIs shall be required to have an underlying exposure in Indian debt or equity securities, including units of equity/debt mutual funds.
F&O total turnover stood at Rs 1,81,220.87 crore on April 8 and the total number of contracts traded on the day were 71,37,137.
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