SEBI:
SEBI has issued Clarification on Exchange Traded Cross Currency Derivatives contracts on EUR-USD, GBP-USD and USD-JPY currency pairs. Stock exchange / clearing corporation shall submit a proposal to SEBI for approval for the launch of the cross -currency derivatives product(s). Such proposal shall, inter-alia, include the details of contract specifications, risk management framework, surveillance systems, and other requirements specified in this circular and SEBI circular dated March 09, 2016. Stock exchanges and Clearing corporations are directed to take necessary steps to put in place necessary systems for implementation of the circular, including necessary amendments to the relevant bye-laws, rules and regulations and to bring the provisions of this circular to the notice of the stock brokers and also disseminate the same on their website and to communicate to SEBI the status of implementation of the provisions of this circular.
DGFT
DGFT has issued Trade Notice stating that "Contact@DGFT" serviceas single point contact for all foreign trade related issues has been established. Contact@DGFT system has been activated at the DGFT website (www.dgft.gov.in) as a single point contact for resolving all foreign trade related issues. Exporters/Importers are requested to use this facility for resolution of foreign trade related issues either directly concerning DGFT (headquarters or regional offices) or concerning other agencies of the Central or State Governments. Best efforts will be made for expeditious resolution of issues which are directly related to DGFT and the issues concerning other agencies will be taken up by DGFT on behalf of the exporters/importers with the agencies concerned. A reference number will be issued for each request so that the status of action taken can be tracked. Effective monitoring arrangements have been made. All stakeholders are request in the interest of systematic monitoring and effective resolution, exporters/importers are requested not to send their queries through twitter or email and use Contact@DGFT service instead.
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