The Forward Markets Commission (FMC) today sought public comments on allowing warehouse service providers to take accreditation with more than one commodity exchange.
"It is proposed to provide that a WSP (warehouse service provider) would be free to take accreditation with more than one exchange and there shall not be any exclusivity clause mandated by any exchange for accreditation of WSPs," regulator FMC said in a circular.
The credibility of the exchange-accredited warehouses and the warehousing receipts issued by them is of critical importance in the commodity futures market, the FMC said, adding that the proposal comes in the wake of a demand from various stakeholders.
The comments are sought by January 31.
FMC said that as the regulator recently prescribed uniform norms for accreditation of WSPs by national bourses, various stakeholders have demanded that WSPs should be allowed to take accreditation with more than one exchanges if these norms are complied.
There are four national (MCX, NCDEX, NMCE and ACE) and six regional level commodity exchanges in the country.
