Markets Regulator Securities and Exchange Board of India (SEBI) has decided to absorb the existing staff of commodities regulator Forward Markets Commission (FMC), and would begin hiring more from outside in 6-8 months. According to an official SEBI has also created a separate Commodity Cell and has set up new departments for regulation of commodities derivatives market, while an additional office space has been identified in the vicinity of its headquarters in the city's upmarket financial district Bandra Kurla Complex.The FMC, which has been regulating commodities markets since 1953, will merge with the Securities and Exchange Board of India (Sebi) on September 28 to create a unified markets regulator.