Tag: Commodities Markets
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National Mineral Exchange and SEBI: Shaping Price Discovery for India’s Minerals
[Arjun Chaudhary and Jainam Shah are 4th Year Law students at Gujarat National Law University] The Indian government’s landmark move to introduce the “National Minerals Exchange” has been hailed as “India’s LME Moment”, a nod to the London Metal Exchange (“LME”), which has played a major role in controlling global metal pricing over the last century. Although this reform may seem ambitious
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Going for Gold: SEBI Proposes Gold Trading on Exchanges
[Arunimaa Jaiswal is a fourth-year student at Gujarat National Law University, Gandhinagar] Through the Union Budget 2021-22, the Government of India notified the Securities and Exchange Board of India (“SEBI”) as the regulator for gold exchanges in India. Upon such notification and in pursuance of the Government’s intention of establishing regulated gold exchanges in the
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Price Gouging in the Age of Coronavirus: An Analysis of the Regulatory Strategies
[S.S. Shri Lakshmi is a 3rd year student at Hidayatullah National Law University, Raipur (HNLU)] Amidst all the panic caused by the current novel coronavirus (COVID-19), the international economy has suffered a beating. Factories across China have closed, bringing exports to a halt and oil stocks have plummeted due to a drastic cut in travel.
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Insider Trading in Commodity Derivatives
[Peeyush Agarwal and Zarnaab Aswad are both 5th year law students at Dr. Ram Manohar Lohiya National Law University, Lucknow] Introduction Consider this: X is an employee of Y Corporation, which is a leading steel manufacturing company whose scrips are listed on stock exchanges. X, being an employee gets to know that Y Corporation has
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Metal to Paper: India’s Sovereign Gold Bonds
[The following guest post is contributed by Rishi A, a fourth year student of Hidayatullah National Law University] The Government of India recently released a concept paper on Sovereign Gold Bonds. It has been proposed that these bonds would carry a fixed rate of interest of around 1.5-2%, which can be further raised by individual
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Dissecting the Convergence of the Securities Markets and the Commodities Markets Regulators
[The following guest post is contributed by Abhilasha Mondal, a 5th year student at the National Law School of India University, Bangalore. She can be contacted at abhilashamondal@nls.ac.in.] The Finance Bill, 2015-16, actualises the merger between the Securities and Exchange Board of India (“SEBI”) and the Forward Markets Commission (“FMC”). The unification of the regulators,
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Budget 2015: Financial Markets
The Budget makes some proposals to boost the financial markets in India, both in the debt and equity segments, but arguably the reforms are only incremental and many not necessary result in drastic expansion of the markets. Corporate Bonds The first proposal is to give a fillip to the bond markets. As a co-author and
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Dealing with Duopoly in a Regulated Sector
A recent episode involving determination of fees by commodity exchanges has sparked off an intense debate on the role of a regulator in dealing with a duopoly situation. The regulator here is the Forward Markets Commission (FMC) and the players the two commodities exchanges, NCDEX and MCX. The trigger is a decision by the FMC
