NSE allows members to participate in the derivatives market in accordance with the rules, regulations and norms specified by ________.

The National Stock Exchange (NSE) allows its members to participate in the derivatives market in accordance with the rules, regulations, and norms specified by the Securities and Exchange Board of India (SEBI). SEBI is the regulatory authority for the securities market in India, which is responsible for protecting the interests of investors and promoting the development of the securities market.

Through these regulations, SEBI ensures that the trading practices are fair and transparent, which helps in maintaining investor confidence. Additionally, it sets guidelines for the conduct of trading and the management of risk in the derivatives segment specifically, thereby facilitating an orderly trading environment. This framework is crucial for the effective functioning of the derivatives market and helps in the promotion of efficient price discovery and risk management.