In the first ever merger of two regulators, Forward Markets Commission (FMC) will merge today with the much bigger capital markets watchdog, Securities and Exchange Board of India (SEBI), to create a unified regulatory body. The merger would take forward the announcement made by Finance Minister Arun Jaitley in his budget speech earlier this year. FMC's merger with SEBI is aimed at streamlining the regulations and curb wild speculations in commodities market while facilitating further growth of the market.