Product Advisory Committee

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..... nge dealing in commodity derivatives segment shall constitute a Product Advisory Committee (PAC) for each group/complex of commodities having common stakeholders/value chain participants, on which derivatives are traded or being proposed to be traded on the exchange. 1.1. Terms of Reference The PAC shall be consulted for the following: Contract design on new commodities and review of design of existing contracts, to ensure that contract specifications represent the industry s needs: alignment of quality/quantity specifications of the product with the physical market choice of basis and additional delivery centers appropriate premium/discount for addit .....

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..... ion responsible for specific commodity. b) Each PAC meeting shall be headed by a Chairman (who shall be an independent person with experience in the specific commodity) selected as such for the meeting based on attendees choice. PAC shall have an exchange executive as Vice Chairman for administrative coordination/decision. 1.3. Proceeding of meetings a) The PAC shall meet at least twice a year and more frequently as and when required. b) The Exchange shall prepare the agenda for the meeting based on the views and requirements of value chain participants and also taking into account any suggestions/feedback/complaints received by the exchange regarding the commodity/contract. .....

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..... ck Exchange. 3. This circular is issued in exercise of the powers conferred under Section 11(1) of the Securities and Exchange Board of India Act 1992 to protect the interests of investors in securities and to promote the development of, and to regulate the securities market. 4. The circular would be effective from one month from the date of the circular. 5. Exchanges are advised to: i. to make necessary amendments to the relevant bye-laws, rules and regulations. ii. bring the provisions of this circular to the notice of the stock brokers of the Exchange and also to disseminate the same on their website. iii. communicate to SEBI, the status of the implementati .....

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