Market regulator, the Securities and Exchange Board of India (Sebi), has expanded the horizon of all compulsory delivery contracts under staggered delivery, a move that aims to reduce price manipulation and improve liquidity on commodity exchanges. Sebi has also cut the minimum staggered delivery period to five days from the existing 10 days, leaving the discretion of fixing the higher number of days on the concerned exchange, depending upon the history of the relevant commodity. In a circular issued on Friday, Sebi said, “All compulsory delivery commodity futures contracts (agriculture as well as non-agriculture commodities) shall have a staggered delivery period. The minimum staggered delivery period should be five working days” Staggered delivery period is the period beginning few working days prior to expiry of any contract and ending with expiry, during which sellers / buyers having open position may submit an intention to give / take delivery. The markets regulator has been