May 31, 2000
The Managing Director/Executive Director,
The National Stock Exchange of India Ltd.,The Stock Exchange, Mumbai.
The Derivative Segment of the Exchange & its Clearing House have been granted approval to commence derivative trading & settlement in SEBI approved derivative contracts. You are advised to appoint:
· Governing Board of Derivative Exchange/Segment (which shall include Governing Council/Executive Committee),
·Clearing Council (which shall include the Clearing Council/Executive Committee of Derivatives Clearing House / Clearing Corporation),
· Chief Executive Officer of the Derivative Exchange/Segment
· Chief Executive Officer of Derivatives Clearing House/Corporation, and
· Statutory Committees such as Disciplinary Action Committee, Arbitration Committee, Defaulters Committee,
within a period of two months from the date of final approval for trading and settlement granted by SEBI in the manner specified in the enclosed Guidelines.
(L. K SINGHVI)
Sr. Executive Director