On 17 May, SEBI updated position limits for cross-currency futures and options.
- For cross-currency futures and options contracts not involving Indian Rupee in IFSC.
- Gross open position across contracts not to exceed 15% of total open interest or $1bn
- Applies to trading members, institutional investors and the eligible foreign investors
- Other clients must not exceed 6% of total open interest of $100m, which is higher
- Stock exchanges to impose appropriate penalties for violation by market participants