{"id":197073,"date":"2026-08-11T16:03:14","date_gmt":"2026-08-11T10:33:14","guid":{"rendered":"https:\/\/univest.in\/blogs-2\/?p=197073"},"modified":"2026-08-11T16:03:16","modified_gmt":"2026-08-11T10:33:16","slug":"sebi-fpi-commodity-derivatives-physical-delivery-proposal-2026","status":"publish","type":"post","link":"https:\/\/univest.in\/blogs-2\/sebi-fpi-commodity-derivatives-physical-delivery-proposal-2026\/","title":{"rendered":"SEBI Panel Greenlights Proposal Allowing FPIs Into Physical-Delivery Commodity Derivatives on 11 August 2026; Consultation Paper Expected Soon"},"content":{"rendered":"<div class=\"meta-block\"><\/div>\n<p style=\"border-left: 4px solid #1F4E79; background: #EBF3FB; padding: 10px 16px; font-style: italic;\"><em>SEBI allows FPIs into physical-delivery commodity derivatives. FPIs must exit\/roll positions 3 days before delivery. Open positions transferable to trading members. Consultation paper soon.<\/em><\/p>\n<p>A SEBI expert panel has greenlighted a proposal to allow foreign portfolio investors (FPIs) access to physical-delivery commodity derivatives on Indian exchanges on 11 August 2026, a significant regulatory development for the country&#8217;s commodity markets. The FPI commodity derivatives proposal would open a new avenue for international investors to participate in India&#8217;s commodity derivative markets beyond the current cash-settled contracts that FPIs can already access. A consultation paper on the FPI commodity derivatives framework is expected to be released soon, after which market participants will be able to provide feedback before SEBI finalises the rules.<\/p>\n<p>The proposed FPI commodity derivatives framework includes a key safeguard: foreign investors would be required to exit or roll over their positions three days before the delivery period begins. This three-day exit window for FPI commodity derivatives positions is designed to manage the risk of FPIs being obligated to take or give physical delivery of commodities, which would create operational and regulatory complications. Any open FPI commodity derivatives positions not exited or rolled over within the three-day window could be transferred to trading members who are set up to handle physical delivery, ensuring smooth settlement in the commodity derivatives market.<\/p>\n<p style=\"margin-top: 24px;\"><a href=\"https:\/\/univest.in\/user\/log-in?utm_source=blogs&amp;utm_medium=sebi-fpi-commodity-derivatives\"><strong>Click Here &#8211; Get Free Investment Predictions<\/strong><\/a><\/p>\n<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_65 counter-hierarchy ez-toc-counter ez-toc-grey ez-toc-container-direction\">\n<div class=\"ez-toc-title-container\">\n<p class=\"ez-toc-title \" >Table of Contents<\/p>\n<span class=\"ez-toc-title-toggle\"><a href=\"#\" class=\"ez-toc-pull-right ez-toc-btn ez-toc-btn-xs ez-toc-btn-default ez-toc-toggle\" aria-label=\"Toggle Table of Content\"><span class=\"ez-toc-js-icon-con\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #999;color:#999\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #999;color:#999\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/span><\/a><\/span><\/div>\n<nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/univest.in\/blogs-2\/sebi-fpi-commodity-derivatives-physical-delivery-proposal-2026\/#FPI_Commodity_Derivatives_Why_SEBI_Is_Opening_This_Market\" title=\"FPI Commodity Derivatives: Why SEBI Is Opening This Market\">FPI Commodity Derivatives: Why SEBI Is Opening This Market<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/univest.in\/blogs-2\/sebi-fpi-commodity-derivatives-physical-delivery-proposal-2026\/#FPI_Commodity_Derivatives_What_This_Means_for_Indian_Commodity_Markets\" title=\"FPI Commodity Derivatives: What This Means for Indian Commodity Markets\">FPI Commodity Derivatives: What This Means for Indian Commodity Markets<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/univest.in\/blogs-2\/sebi-fpi-commodity-derivatives-physical-delivery-proposal-2026\/#FPI_Commodity_Derivatives_Next_Steps_and_Timeline\" title=\"FPI Commodity Derivatives: Next Steps and Timeline\">FPI Commodity Derivatives: Next Steps and Timeline<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-4\" href=\"https:\/\/univest.in\/blogs-2\/sebi-fpi-commodity-derivatives-physical-delivery-proposal-2026\/#Conclusion\" title=\"Conclusion\">Conclusion<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-5\" href=\"https:\/\/univest.in\/blogs-2\/sebi-fpi-commodity-derivatives-physical-delivery-proposal-2026\/#Frequently_Asked_Questions\" title=\"Frequently Asked Questions\">Frequently Asked Questions<\/a><ul class='ez-toc-list-level-3' ><li class='ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-6\" href=\"https:\/\/univest.in\/blogs-2\/sebi-fpi-commodity-derivatives-physical-delivery-proposal-2026\/#What_is_the_SEBI_FPI_commodity_derivatives_proposal\" title=\"What is the SEBI FPI commodity derivatives proposal?\">What is the SEBI FPI commodity derivatives proposal?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-7\" href=\"https:\/\/univest.in\/blogs-2\/sebi-fpi-commodity-derivatives-physical-delivery-proposal-2026\/#How_will_FPIs_participate_in_physical-delivery_commodity_derivatives\" title=\"How will FPIs participate in physical-delivery commodity derivatives?\">How will FPIs participate in physical-delivery commodity derivatives?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-8\" href=\"https:\/\/univest.in\/blogs-2\/sebi-fpi-commodity-derivatives-physical-delivery-proposal-2026\/#Why_is_SEBI_allowing_FPIs_into_physical-delivery_commodity_derivatives\" title=\"Why is SEBI allowing FPIs into physical-delivery commodity derivatives?\">Why is SEBI allowing FPIs into physical-delivery commodity derivatives?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-9\" href=\"https:\/\/univest.in\/blogs-2\/sebi-fpi-commodity-derivatives-physical-delivery-proposal-2026\/#What_commodities_are_covered_under_the_FPI_commodity_derivatives_proposal\" title=\"What commodities are covered under the FPI commodity derivatives proposal?\">What commodities are covered under the FPI commodity derivatives proposal?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-10\" href=\"https:\/\/univest.in\/blogs-2\/sebi-fpi-commodity-derivatives-physical-delivery-proposal-2026\/#What_is_a_physical-delivery_commodity_derivative\" title=\"What is a physical-delivery commodity derivative?\">What is a physical-delivery commodity derivative?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-11\" href=\"https:\/\/univest.in\/blogs-2\/sebi-fpi-commodity-derivatives-physical-delivery-proposal-2026\/#When_will_the_SEBI_FPI_commodity_derivatives_consultation_paper_be_released\" title=\"When will the SEBI FPI commodity derivatives consultation paper be released?\">When will the SEBI FPI commodity derivatives consultation paper be released?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-12\" href=\"https:\/\/univest.in\/blogs-2\/sebi-fpi-commodity-derivatives-physical-delivery-proposal-2026\/#How_will_the_FPI_commodity_derivatives_proposal_affect_commodity_markets_in_India\" title=\"How will the FPI commodity derivatives proposal affect commodity markets in India?\">How will the FPI commodity derivatives proposal affect commodity markets in India?<\/a><\/li><\/ul><\/li><\/ul><\/nav><\/div>\n<h2><span class=\"ez-toc-section\" id=\"FPI_Commodity_Derivatives_Why_SEBI_Is_Opening_This_Market\"><\/span><strong>FPI Commodity Derivatives: Why SEBI Is Opening This Market<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>India&#8217;s commodity derivative markets including the Multi Commodity Exchange (MCX) and the National Commodity and Derivatives Exchange (NCDEX) have historically been dominated by domestic participants including commodity producers, consumers, and traders. The introduction of FPI commodity derivatives participation is expected to bring international liquidity, global price discovery linkages, and sophisticated hedging demand from international commodity-focused funds and trading houses. FPI commodity derivatives activity can help narrow the gap between Indian commodity prices and global benchmarks, improving market efficiency for all participants.<\/p>\n<p>Currently, FPIs can participate in cash-settled commodity derivative contracts but are excluded from physical-delivery commodity derivatives. This restriction has limited the depth of FPI commodity derivatives participation and kept international capital away from this important segment of India&#8217;s derivative ecosystem. The SEBI expert panel&#8217;s decision to greenlight the FPI commodity derivatives framework represents a calibrated opening of this market to global investors while maintaining appropriate safeguards around physical delivery obligations.<\/p>\n<table style=\"width: 100%; border-collapse: collapse;\">\n<thead>\n<tr style=\"background: #0A0E1A; color: #ffffff;\">\n<th style=\"border: 1px solid #DDDDDD; padding: 8px;\">FPI Commodity Derivatives Framework Element<\/th>\n<th style=\"border: 1px solid #DDDDDD; padding: 8px;\">Detail<\/th>\n<\/tr>\n<\/thead>\n<tbody>\n<tr>\n<td style=\"border: 1px solid #DDDDDD; padding: 8px;\">Regulatory Body<\/td>\n<td style=\"border: 1px solid #DDDDDD; padding: 8px;\">SEBI (Securities and Exchange Board of India)<\/td>\n<\/tr>\n<tr>\n<td style=\"border: 1px solid #DDDDDD; padding: 8px;\">Approval Stage<\/td>\n<td style=\"border: 1px solid #DDDDDD; padding: 8px;\">Expert panel greenlighted; consultation paper upcoming<\/td>\n<\/tr>\n<tr>\n<td style=\"border: 1px solid #DDDDDD; padding: 8px;\">FPI Position Exit Window<\/td>\n<td style=\"border: 1px solid #DDDDDD; padding: 8px;\">3 days before delivery period<\/td>\n<\/tr>\n<tr>\n<td style=\"border: 1px solid #DDDDDD; padding: 8px;\">Unexited Positions<\/td>\n<td style=\"border: 1px solid #DDDDDD; padding: 8px;\">Transferred to trading members<\/td>\n<\/tr>\n<tr>\n<td style=\"border: 1px solid #DDDDDD; padding: 8px;\">Expected Next Step<\/td>\n<td style=\"border: 1px solid #DDDDDD; padding: 8px;\">Public consultation paper for stakeholder feedback<\/td>\n<\/tr>\n<tr>\n<td style=\"border: 1px solid #DDDDDD; padding: 8px;\">Impact<\/td>\n<td style=\"border: 1px solid #DDDDDD; padding: 8px;\">Improved liquidity and global price discovery<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<h2><span class=\"ez-toc-section\" id=\"FPI_Commodity_Derivatives_What_This_Means_for_Indian_Commodity_Markets\"><\/span><strong>FPI Commodity Derivatives: What This Means for Indian Commodity Markets<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>The FPI commodity derivatives proposal has significant implications for Indian commodity exchanges, particularly MCX which handles bullion, energy, and base metals. Increased FPI commodity derivatives participation in gold and silver futures, for example, can improve alignment between MCX prices and global benchmarks on COMEX and LME, reducing arbitrage gaps that domestic participants currently face. For agricultural commodity derivatives on NCDEX, FPI participation could improve hedging depth for domestic agri-businesses though regulators will need to balance liquidity benefits against potential volatility concerns in essential food commodity markets.<\/p>\n<p>The FPI commodity derivatives framework will also impact Indian commodity brokerages and exchange-clearing members who will need to develop operational capabilities to handle FPI client onboarding, position monitoring, and the three-day exit compliance mechanism. The consultation paper expected from SEBI will provide clarity on documentation requirements, position limits for FPI commodity derivatives, eligible commodity contracts, and the exact mechanics of the position transfer mechanism to trading members at the delivery entry point.<\/p>\n<p style=\"margin-top: 24px;\"><a href=\"https:\/\/univest.in\/screeners\"><strong>Track SEBI Regulatory Developments and Commodity Market News on Univest<\/strong><\/a><\/p>\n<h2><span class=\"ez-toc-section\" id=\"FPI_Commodity_Derivatives_Next_Steps_and_Timeline\"><\/span><strong>FPI Commodity Derivatives: Next Steps and Timeline<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Following the SEBI expert panel&#8217;s green light to the FPI commodity derivatives proposal on 11 August 2026, the next step is the release of the consultation paper that will specify the detailed framework. Market participants including commodity exchanges, brokerages, FPIs, and domestic commodity hedgers will have an opportunity to comment on the proposed FPI commodity derivatives rules. SEBI will review the comments and issue final circulars and guidelines enabling FPI commodity derivatives participation. The timeline from consultation paper to final implementation of FPI commodity derivatives access will depend on the volume of industry feedback and any necessary framework refinements.<\/p>\n<p style=\"margin-top: 24px;\"><em>Download the <a href=\"http:\/\/apps.apple.com\/in\/app\/univest-stocks-investment\/id6443753518\" rel=\"nofollow noopener\" target=\"_blank\">Univest iOS App<\/a> or <a href=\"http:\/\/play.google.com\/store\/apps\/details?id=com.univest.capp&amp;hl=en_IN\" rel=\"nofollow noopener\" target=\"_blank\">Univest Android App<\/a> to stay updated on SEBI regulatory developments and commodity market news through Univest.<\/em><\/p>\n<h2><span class=\"ez-toc-section\" id=\"Conclusion\"><\/span><strong>Conclusion<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>The SEBI expert panel has greenlighted the proposal to allow FPIs into physical-delivery commodity derivatives on 11 August 2026 with a requirement that FPIs exit or roll over positions three days before delivery. Open positions can be transferred to trading members. A consultation paper outlining the detailed FPI commodity derivatives framework is expected soon. This development marks a significant step in opening India&#8217;s commodity derivative markets to global investor participation, which is expected to improve liquidity and price discovery. All investors and market participants should monitor the upcoming SEBI consultation paper for specific details of the FPI commodity derivatives framework.<\/p>\n<div style=\"background: #CC0000; border-radius: 8px; padding: 16px 20px; margin: 24px 0;\">\n<p style=\"color: #ffffff; font-size: 13px; line-height: 1.7; margin: 0;\"><strong style=\"color: #ffffff;\">Disclaimer:<\/strong> Data and figures in this article are sourced from publicly available information. These may or may not be accurate. Please verify all data with the official NSE (nseindia.com) and BSE (bseindia.com) websites before making any investment decision. Investments in securities are subject to market risk. This content is for educational purposes only and is not investment advice by Univest (SEBI RA INH000013776).<\/p>\n<\/div>\n<h2><span class=\"ez-toc-section\" id=\"Frequently_Asked_Questions\"><\/span><strong>Frequently Asked Questions<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<h3><span class=\"ez-toc-section\" id=\"What_is_the_SEBI_FPI_commodity_derivatives_proposal\"><\/span><strong>What is the SEBI FPI commodity derivatives proposal?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><strong>Ans.<\/strong> SEBI&#8217;s expert panel has greenlighted a proposal to allow FPIs (Foreign Portfolio Investors) to participate in physical-delivery commodity derivatives on Indian exchanges. Currently FPIs can trade in cash-settled commodity derivatives but are restricted from physical delivery contracts. The SEBI FPI commodity derivatives consultation paper is expected to be released soon for public comment.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"How_will_FPIs_participate_in_physical-delivery_commodity_derivatives\"><\/span><strong>How will FPIs participate in physical-delivery commodity derivatives?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><strong>Ans.<\/strong> Under the proposed SEBI FPI commodity derivatives framework, foreign investors would be required to exit or roll over their positions three days before the delivery period begins. Open positions that are not exited or rolled over could be transferred to trading members who can take physical delivery. This structure allows FPIs to access commodity price exposure while managing physical delivery risks.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"Why_is_SEBI_allowing_FPIs_into_physical-delivery_commodity_derivatives\"><\/span><strong>Why is SEBI allowing FPIs into physical-delivery commodity derivatives?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><strong>Ans.<\/strong> SEBI is allowing FPIs into physical-delivery commodity derivatives to improve liquidity, price discovery, and market depth on Indian commodity exchanges. International participation in FPI commodity derivatives markets brings global capital flows, cross-commodity arbitrage, and sophisticated hedging strategies that benefit domestic commodity producers, consumers, and traders.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"What_commodities_are_covered_under_the_FPI_commodity_derivatives_proposal\"><\/span><strong>What commodities are covered under the FPI commodity derivatives proposal?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><strong>Ans.<\/strong> The SEBI FPI commodity derivatives proposal covers physical-delivery commodity derivative contracts on Indian exchanges. These would include agri-commodities and bullion contracts where physical delivery is possible. The specific list of eligible commodity derivatives will be detailed in the SEBI consultation paper expected to be released following the panel&#8217;s green light to the proposal.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"What_is_a_physical-delivery_commodity_derivative\"><\/span><strong>What is a physical-delivery commodity derivative?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><strong>Ans.<\/strong> A physical-delivery commodity derivative is a futures or options contract where the seller is obligated to deliver the actual physical commodity (such as gold, silver, crude oil, or agricultural produce) to the buyer at contract expiry, as opposed to cash-settled contracts where the difference in price is paid in cash. The proposed SEBI FPI commodity derivatives framework creates a mechanism for foreign investors to access these markets while managing their physical delivery obligations.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"When_will_the_SEBI_FPI_commodity_derivatives_consultation_paper_be_released\"><\/span><strong>When will the SEBI FPI commodity derivatives consultation paper be released?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><strong>Ans.<\/strong> The SEBI consultation paper on FPI commodity derivatives is expected to be released soon following the expert panel&#8217;s green light to the proposal on 11 August 2026. Once released, market participants will have a comment period to provide feedback on the proposed framework before SEBI finalises the rules for FPI participation in physical-delivery commodity derivatives.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"How_will_the_FPI_commodity_derivatives_proposal_affect_commodity_markets_in_India\"><\/span><strong>How will the FPI commodity derivatives proposal affect commodity markets in India?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><strong>Ans.<\/strong> The SEBI FPI commodity derivatives proposal is expected to increase trading volumes, improve price discovery, and deepen liquidity on Indian commodity exchanges such as MCX. FPI participation in commodity derivatives brings global capital and hedging demand that can narrow bid-ask spreads and make commodity derivative markets more efficient for domestic participants including farmers, processors, and commodity traders.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>SEBI panel greenlights proposal allowing FPIs into physical-delivery commodity derivatives on 11 August 2026. FPIs must exit or roll over positions 3 days before delivery. Consultation paper expected soon.<\/p>\n","protected":false},"author":28,"featured_media":197072,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[842],"tags":[3802],"class_list":["post-197073","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-news"],"metadata":{"rank_math_internal_links_processed":["1"],"_thumbnail_id":["197072"],"_edit_lock":["1786444399:28"],"_last_editor_used_jetpack":["block-editor"],"rank_math_primary_category":["842"],"rank_math_seo_score":["56"],"rank_math_title":["SEBI Panel Greenlights FPI Access to Commodity Derivatives Aug 2026"],"rank_math_description":["SEBI panel greenlights proposal allowing FPIs into physical-delivery commodity derivatives on 11 August 2026. FPIs must exit or roll over positions 3 days before delivery. Consultation paper expected soon."],"rank_math_focus_keyword":["SEBI panel greenlights"],"rank_math_robots":["a:2:{i:0;s:7:\"noindex\";i:1;s:8:\"nofollow\";}"],"_edit_last":["28"],"_ez-toc-disabled":[""],"_ez-toc-insert":[""],"_ez-toc-header-label":[""],"_ez-toc-alignment":["none"],"_ez-toc-heading-levels":["a:0:{}"],"_ez-toc-alttext":[""],"_ez-toc-visibility_hide_by_default":[""],"_ez-toc-hide_counter":[""],"_ez-toc-exclude":[""],"_ez-toc-position-specific":["before"],"stm_select_gm_zoom":[""],"stm_agenda":[""],"stm_host":[""],"stm_select_approved_denied":[""],"stm_multiselect_approved":[""],"stm_multiselect_denied":[""],"stm_date":[""],"stm_time":[""],"stm_timezone":[""],"stm_duration":[""],"stm_password":[""],"stm_waiting_room":[""],"stm_join_before_host":[""],"stm_host_join_start":[""],"stm_start_after_participants":[""],"stm_mute_participants":[""],"stm_enforce_login":[""],"stm_alternative_hosts":[""],"top_bar_custom_style":[""],"top_bar_bg":[""],"wc_top_bar_cart_custom_style":[""],"wc_top_bar_cart_color":[""],"wc_top_bar_cart_icon_color_hover":[""],"wc_top_bar_cart_counter_color":[""],"wc_top_bar_cart_counter_color_hover":[""],"wc_top_bar_cart_counter_bg":[""],"wc_top_bar_cart_counter_bg_hover":[""],"top_bar_wpml_switcher_custom_style":[""],"wpml_switcher_color":[""],"top_bar_wpml_switcher_bg":[""],"top_bar_wpml_switcher_bg_hover":[""],"top_bar_wpml_switcher_color_hover":[""],"top_bar_socials_custom_style":[""],"top_bar_socials_color":[""],"top_bar_socials_color_hover":[""],"top_bar_search_custom_style":[""],"top_bar_search_color":[""],"top_bar_search_icon_color_hover":[""],"top_bar_contact_info_style":[""],"top_bar_contact_info_color":[""],"top_bar_contact_info_link_color":[""],"top_bar_contact_info_link_color_hover":[""],"top_bar_contact_info_select_bg":[""],"top_bar_contact_info_select_color":[""],"top_bar_contact_info_select_drop_bg":[""],"top_bar_contact_info_select_items_bg":[""],"top_bar_contact_info_select_items_color":[""],"top_bar_contact_info_select_items_hover":[""],"header_inverse":["default"],"enable_header_transparent":["off"],"header_nav_custom_style":[""],"header_bg":[""],"header_shadow":[""],"wc_cart_custom_style":[""],"wc_cart_icon_color":[""],"wc_cart_icon_color_hover":[""],"wc_cart_counter_color":[""],"wc_cart_counter_color_hover":[""],"wc_cart_counter_bg":[""],"wc_cart_counter_bg_hover":[""],"header_wpml_switcher_custom_style":[""],"header_wpml_switcher_color":[""],"header_wpml_switcher_color_hover":[""],"header_wpml_switcher_bg":[""],"header_wpml_switcher_bg_hover":[""],"header_socials_custom_style":[""],"header_socials_color":[""],"header_socials_color_hover":[""],"header_search_custom_style":[""],"header_search_icon_color":[""],"header_search_icon_color_hover":[""],"header_contact_info_style":[""],"header_contact_info_color":[""],"header_contact_info_link_color":[""],"header_contact_info_link_color_hover":[""],"header_button_custom_style":[""],"header_button_color":[""],"header_button_color_hover":[""],"header_button_bg":[""],"header_button_bg_hover":[""],"header_nav_menu_customize":[""],"header_nav_menu_link_color":[""],"header_nav_menu_link_color_hover":[""],"header_nav_menu_link_color_active":[""],"header_nav_menu_link_arrow_color":[""],"header_nav_menu_link_arrow_color_hover":[""],"header_nav_menu_level_1_bg":[""],"header_nav_menu_level_1_link_color":[""],"header_nav_menu_level_1_link_color_hover":[""],"header_nav_menu_level_1_link_bg_hover":[""],"header_nav_menu_level_1_link_arrow_color":[""],"header_nav_menu_level_1_link_arrow_color_hover":[""],"header_nav_menu_level_2_bg":[""],"header_nav_menu_level_2_link_color":[""],"header_nav_menu_level_2_link_color_hover":[""],"header_nav_menu_level_2_link_bg_hover":[""],"header_mega_menu_bg":[""],"header_mega_menu_title_color":[""],"header_mega_menu_title_color_hover":[""],"header_mega_menu_description_color":[""],"header_mega_menu_description_link_color":[""],"header_mega_menu_description_link_color_hover":[""],"header_mega_menu_color":[""],"header_mega_menu_color_hover":[""],"header_mega_menu_border_color":[""],"header_mega_menu_icons_color":[""],"header_nav_menu_customize_end":[""],"hfe_enabled_notice":[""],"disable_title_box":["default"],"hfe_disabled":[""],"enable_transparent":["default"],"title_box_title_bg_color":[""],"title_box_bg_custom_image":["default"],"title_box_bg_image":[""],"title_box_bg_position":["default"],"metabox_title_box_bg_position_x":[""],"metabox_title_box_bg_position_y":[""],"metabox_title_box_bg_attachment":["default"],"title_box_bg_size":["default"],"metabox_title_box_bg_size_slider":[""],"title_box_bg_repeat":["default"],"disable_title":["default"],"title_box_title_color":[""],"title_box_title_line_color":[""],"disable_breadcrumbs":["default"],"metabox_title_box_breadcrumbs_color":[""],"metabox_title_box_links_color":[""],"metabox_title_box_links_color_hover":[""],"content_bg_transparent":[""],"show_popup_single":[""],"popups_single":[""],"popups_single_event":[""],"popup_single_event_open_delay":[""],"popup_single_event_showing_in":[""],"popup_single_event_date_from":[""],"popup_single_event_date_to":[""],"popup_single_event_time_from":[""],"popup_single_event_time_to":[""],"popup_single_animation":[""],"popup_single_responsive":[""],"separator_footer_copyright_border_t":[""],"name":[""],"email":[""],"phone":[""],"company":[""],"memberId":[""],"testimonial_position":[""],"testimonial_company":[""],"testimonial_bg_img":[""],"testimonial_video_url":[""],"popups_width":[""],"popups_height":[""],"popups_image_bg":[""],"popups_color_bg":[""],"popups_border_radius":[""],"popups_template":[""],"rank_math_analytic_object_id":["36023"]},"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"https:\/\/univest.in\/blogs-2\/wp-content\/uploads\/2026\/08\/sebi-fpi-commodity-derivatives-physical-delivery-proposal-2026.png","_links":{"self":[{"href":"https:\/\/univest.in\/blogs-2\/wp-json\/wp\/v2\/posts\/197073","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/univest.in\/blogs-2\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/univest.in\/blogs-2\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/univest.in\/blogs-2\/wp-json\/wp\/v2\/users\/28"}],"replies":[{"embeddable":true,"href":"https:\/\/univest.in\/blogs-2\/wp-json\/wp\/v2\/comments?post=197073"}],"version-history":[{"count":2,"href":"https:\/\/univest.in\/blogs-2\/wp-json\/wp\/v2\/posts\/197073\/revisions"}],"predecessor-version":[{"id":197414,"href":"https:\/\/univest.in\/blogs-2\/wp-json\/wp\/v2\/posts\/197073\/revisions\/197414"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/univest.in\/blogs-2\/wp-json\/wp\/v2\/media\/197072"}],"wp:attachment":[{"href":"https:\/\/univest.in\/blogs-2\/wp-json\/wp\/v2\/media?parent=197073"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/univest.in\/blogs-2\/wp-json\/wp\/v2\/categories?post=197073"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/univest.in\/blogs-2\/wp-json\/wp\/v2\/tags?post=197073"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}