Mumbai (Maharashtra) [India], September 23 : Capital markets regulator Securities and Exchange Board of India (SEBI) is not looking to disrupt the Futures & Options (F&O) segment and maintains that a certain level of stability is needed going forward, SEBI Chairman Tuhin Kanta Pandey said on Wednesday.
Speaking to the media on the sidelines of the 13th SBI Banking & Economics Conclave 2026 in Mumbai, Pandey indicated that the regulator remains open to reviewing margin requirements and other operational constraints on longer-term derivative contracts.
Addressing concerns over retail losses in equity derivatives and ongoing efforts to discourage uninformed trading, the SEBI chief urged market participants to exercise patience.
“Well, I think you have to just be patient, because... these questions are asked every week to week, I think,” Pandey said when asked how the regulator plans to keep inexperienced traders out without disrupting the broader market.
Elaborating on SEBI's regulatory philosophy regarding derivative markets, he emphasized that continuous speculative inquiries following regulatory studies need to give way to structural stability.
“No, I mean, because every time, you know, people ask a question based on whatever study we do... that what's being done about it, right, from week to week. So, I think there has to be a certain level of stability going forward,” he noted.
On the market's evolution toward introducing longer-tenure derivative contracts, Pandey stated that the ultimate trajectory rests with traders and market opportunities, though SEBI is ready to assist on the regulatory and margin front.
“On our part, if there is anything that we can do in terms of margins, etc., we are looking into it,” he said.
Reiterating SEBI's readiness to address potential friction in longer-dated derivative products, Pandey added, “Yeah, I mean, what I'm saying is that what are the different issues, if you are saying around margins or others on the longer term, we are prepared to look into that.”
When asked whether the government or regulator should consider tax incentives to boost debt instruments and encourage broader market participation, the SEBI Chairman firmly declined to comment on fiscal matters, stating, “No, no comments on the tax side.”