The Securities and Exchange Board of India announced it will issue unified licenses to brokers and clearing members to transact in both commodity derivative and equity markets. This follows the merger of the Forwards Markets Commission, which regulates commodity markets in India, and SEBI in September 2015. Previously, separate legal entities were required for the different businesses. Additionally, SEBI proposed to permit hedge funds to invest in commodity derivatives. Comments on its proposal regarding hedge funds will be accepted through May 20. SEBI also announced that, after a public consultation, it would soon permit exchanges to offer commodity derivative options.