each from January 9-14 2007, while Madhya Bharat International and Dayal Agro Products suspended for three days each from January 9-11 2007. Three other players Globe Comex, Bhagyashree Commodity and Derivatives and Kunvarji were generally adhered to, the FMC is keen on keeping a close watch as it influences the movement of prices on sensitive and narrow commodities. The offenders would be suspended from trading.
member violates the position limits more than three times in a month, then they can be suspended, Mr Agarwal said. The FMC has a risk management team in place which oversees all such violations. writing and in person, said a notice from the regulator.
Open position is of contracts in a market at a given time that are to be closed, liquidated or In August this year, the FMC introduced tight limits on like chana, urad and tur. In fact, the limit on wheat saw a 100% cut, which analysts point out, nearly killed the volumes on the exchange. While wheat has seen volumes of close to 4 lakh tonnes a day, even 70,000 tonnes a day is considered good now after the open interest limits were halved, said an analyst in Mumbai.
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