Sebi meet: All bourses to offer stocks & commodities trading from Oct 2018

Cross-holding in credit rating agencies, mutual funds to be capped at 10% to tackle conflict of interest

The Securities and Exchange Board of India (Sebi) on Thursday gave its nod to the convergence of both equities and commodity-backed stocks on exchanges from October, 2018.

According to Sebi Chairman Ajay Tyagi, the move will allow major players like BSE, NSE and Multi-Commodity Exchange of India (MCX) to list both equities and commodity-backed financial instruments on their platforms.

Tyagi said the convergence will be effective from October, 2018 and will help in cross-listing and provide investors with access to various asset classes. Other decisions taken at the meet are:

* Credit rating agencies need to have governance structure

* Minimum net worth