Sebi allows direct mkt access facility to FPIs for participating in exchange traded commodity derivatives

Indian capital markets regulator Sebi has allowed exchanges to extend direct market access (DMA) to foreign portfolio investors (FPIs) to participate in exchange-traded commodity derivatives (ETCDs). Following discussions with its Commodity Derivatives Advisory Committee, Sebi said it had decided to allow stock exchanges to extend the DMA to FPIs in ETCDs based on representations received and subject to certain conditions. Sebi permitted FPIs to participate in cash-settled non-agricultural commodity derivative contracts in September 2022, while alternate investment funds, portfolio management services and mutual funds were given permission in 2017.