Is Reliance banned from F&O?

I saw this article on Economic Times. Will we not be able to trade Reliance in F&O from Monday? What happens to my open positions?

The article you’re referring to reads:

The Securities and Exchange Board of India (Sebi) on Friday barred Reliance Industries Ltd (RIL), the country’s second most valued firm, and 12 other entities from dealing in equity derivatives futures and options segment for a period of one year.

Check this notice put out by BSE in the matter.

Prohibited the following noticees from dealing in equity derivatives in the F&O segment of stock exchanges, directly or indirectly, for a period of one year from the date of the said Order.

This doesn’t mean that the Reliance F&O contracts trading on the markets have been banned, but rather that Reliance Industries as an entity cannot trade in F&O on the exchanges for the next one year. Also, the positions they currently hold need to be squared off. Reiterating, SEBI has only banned the Reliance prop desk from trading F&O. Every big corporate has a treasury/prop desk which trades stocks, F&O, currency etc - to hedge and speculate.

Reliance F&O contracts will continue to trade as normal.

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