With the concept of a universal exchange set to become a reality, the Securities and a Exchange Board of India (Sebi) has finalised norms for allowing mutual funds and portfolio management services to participate in commodity derivatives. The market regulator will be announcing these norms shortly.Sebi had issued a discussion paper on the subject in first week of December last year.After that, the regulator had cleared and set a time line for introducing the universal exchange, under which equity and commodity exchanges can enter each other's arena. Prior to that Sebi is keen to expand the product basket and introduce various participants in the commodity derivatives market.
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