Trading in F&Os can't be national pastime: Ashwani Bhatia
Sebi's whole-time member Ashwani Bhatia said on Tuesday, while cautioning investors about the risk associated with complex financial instruments.
«F&Os cannot be and should not be a national pastime which actually means that savings of retail participants move into the pockets of institutional hands,» Bhatia said while speaking at an event here.
He said India accounts for the largest volume of futures and options (F&O) globally, but it is a 'crown we do not wish to wear'.
«There is a saying uneasy lies the head that wears a crown...We are number one and globally also more than 50 % of the F&O volume happens in India. This is a crown we do not wish to wear,» Bhatia said.
Early this month, the regulator introduced a raft of measures to curb retail participation in the derivatives segment, where at least nine out of ten participants have consistently lost money over the past three years.
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