Sebi clarifies on format for seeking clients’ trading preferences Capital market regulator Sebi on Tuesday clarified that new format for seeking clients’ trading preferences prescribed by it last month will not be applicable to members registered exclusively with commodity derivatives exchanges.Such members will use the format as prescribed by erstwhile Forward Markets Commission (FMC) in February 2015, the Securities and Exchange Board of India (Sebi) said in a circular.Under the format, the member must specify the names of the exchanges where the member has membership, date of consent for trading on the concerned exchange and signature of the client. In case of allowing a client for trading on any other exchange at a later date, which is not selected now, a separate consent letter is required to be obtained by the member from the client and to be kept as an enclosure with this document.”In view of the fact that in case of commodity derivatives exchanges, overlap of traded commodities between them is low at this point of time, it is hereby clarified that …format of ‘Trading Preferences’ as specified in Sebi circular dated June 21, 2023, shall not be made applicable to members registered exclusively with commodity derivatives exchanges,” it added.
Liz Truss, who took over as Britain’s prime minister on Tuesday, vowed immediate action to help the economy, which faces double-digit inflation and an expected lengthy recession.
Showing correlation with mainstream financial markets, cryptocurrency bitcoin fell to its lowest since mid-June and the market cap of all cryptocurrencies dropped below $1 trillion, according to data provider CoinGecko.
The Bank of Canada is expected to announce a large rate hike later on Wednesday as it battles to curb inflation at its highest in nearly four decades.