NCDEX issues guidelines to address market cartelisation

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Pune | Published: January 18, 2017 6:34:30 AM

NCDEX has issued a financial conduct framework that will contribute directly in making the futures market transparent and less vulnerable to manipulation.

The Exchange guidelines clarify the definition of “persons acting in concert” and the rules for clubbing of open positions. (Source: Website)The Exchange guidelines clarify the definition of “persons acting in concert” and the rules for clubbing of open positions. (Source: Website)

NCDEX has issued a financial conduct framework that will contribute directly in making the futures market transparent and less vulnerable to manipulation. The Exchange guidelines clarify the definition of “persons acting in concert” and the rules for clubbing of open positions.

These guidelines will help in preventing circumvention of the stipulated position limit norms by clients or members, a note issued by the Exchange said.

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These norms are also designed to curb ‘benami’ account trading in commodity futures markets.

The exchange monitoring and surveillance system will take note of attempts which may appear to compromise market integrity. Stringent penal action, as outlined by the regulator, will be taken on violation of position limits.

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