Position Limits for Mutual Funds in 10-year Interest Rate Futures (IRF)
Summary
SEBI clarifies position limits for Mutual Funds in 10-year Interest Rate Futures following previous circulars. Mutual Funds are subject to position limits applicable to trading members, while their schemes follow limits for clients. This directive is issued under Section 11(1) of the SEBI Act and Section 10 of the SCRA.
Text
the following position limits in IRF shall be applicable for Mutual Fund level and scheme level:
Mutual Funds shall have position limits as applicable to trading members presently.
Schemes of Mutual Funds shall have position limits as applicable to clients presently.
This circular is issued in exercise of the powers conferred under Section 11 (1) of the Securities and Exchange Board of India Act 1992, read with Section 10 of the Securities Contracts (Regulation) Act, 1956 to protect the interests of investors in securities and to promote the development of, and to regulate the securities market.
Source: SecMarx — Position Limits for Mutual Funds in 10-year Interest Rate Futures (IRF). Verbatim text is public record; SecMarx structuring (linkage to applying orders) is cited to us.