Securities and Exchange Board of India (SEBI) rearranged the Commodity derivatives advisory committee and appointed Ashok Dalwani, Retired IAS officer as the chairman and Aliasgar S Mithwani, Chief General Manager of SEBI as Secretary of the 17-member committee.
Functions of Commodity derivatives advisory committee:
i.The committee examines issues related to the contract design and new products in the segment and recommend the required risk management system and regulatory framework of commodity derivatives and governance of commodities derivatives exchange
ii.They advise on the delivery mechanism and warehouse related matters and measures for improving market safety, efficiency transparency and integrity and cost reduction in transaction and other matters that are considered relevant by the committee.
i.The committee members includes Madan Sabnavis, Vijay Sardana, Chandrasekhar, Prof. Gopal Naik, S Sivakumar, R Amalorpavanathan, C S Verma, Ashish Chaushan MD and CEO of BSE, Vikram Limaye MD and CEO of NSE, MD and CEO of NCDEX, MCX and ICEX.
ii.Executive Directors of SEBI, Amarjeet Singh and V S Sundaresan are also the members of the committee.
iii.The representatives from
- Department of Economic Affairs, Ministry of Finance
- Commission for Agriculture Costs and Prices(CACP)
- Department of Agriculture, Cooperation and Family Welfare
- Department of Consumer Affairs
- Department of Food and Public Distribution
- Department of Commerce
- Warehousing Development & Regulatory Authority(WDRA)
- NITI Aayog
- Reserve Bank of India
- National Bank for Agriculture and Rural Development(NABARD)
- Commodity Participants Association of India(CPAI)
- Metals and Minerals Trading Corporation(MMTC) of India are also the members of the committee.
Chairman– Ajay Tyagi
Head Office– Mumbai, Maharashtra