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TMI BlogPosition Limits for HedgersX X X X Extracts X X X X X X X X Extracts X X X X ..... ver is earlier. 2. Erstwhile FMC, from time to time, had prescribed various norms related to Position Limit for hedgers. This circular is being issued to consolidate and update such norms prescribed by erstwhile FMC. 3. In order to facilitate larger participation by genuine hedgers by providing them with necessary incentives with a view to deepen the commodity derivatives market, the exchanges shall hence forth stipulate a Hedge Policy for granting hedge limits to their members and clients. The Exchanges shall widely publicize their respective hedge policy by holding awareness programmes for the target participants and making it publicly available on their website. 4. In this regard, the Exchanges shall adhere to the following broa ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... roved warehouses or iii. lying in any other premises (warehouse, factory etc.), provided the premises is either owned by the hedger or taken on lease by the hedger in its name and Exchange has ascertained that such premises are well equipped with quality control safeguards for storage of the relevant commodity. and shall be subject to the production of the relevant Bank Certificate/Warehouse Receipt, as the case may be, and also shall be subject to verification regarding ownership of the stocks etc., by the Exchange in accordance with the procedure laid down by the Exchange in this regard. f) At any point of time during the hedge period, hedging positions taken in derivatives contracts by hedger, across multiple Exchanges/ Contract ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... cation Application Approval Date Approval Start Date Date till Approval is valid 1. Hedger 1 2. Hedger 2 5. The provisions of this circular shall come into effect from September 29, 2016 in supersession of all earlier directives issued by erstwhile FMC with regard to matters related to Position Limits for Hedgers . 6. This circular is issued ..... X X X X Extracts X X X X X X X X Extracts X X X X
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