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FMC plans uniform net worth criteria

Posted on 15 December 2009

From Indiatimes.com: Commodity futures market regulator Forward Markets Commission (FMC) may stipulate uniform net worth criteria for members trading on behalf of clients and carrying out proprietary trades across national-level commodity bourses.
Brokers and exchange officials stress the importance of putting in place a benchmark in terms of net worth — share capital plus free reserves — for those who provide broking services as these entities are perceived to be extended arms of the bourses and any default by a member carries potential reputation risk for the latter……………………………….Full Article: Source

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