The government today said that Forward Market Commission (FMC), has taken several initiatives to improve transparency in the commodity futures market . This was informed by Consumer Affairs Minister Prof. KV Thomas in a written reply in the Lok Sabha. He said the futures trading on national commodity Exchanges is closely monitored by the FMC. The Minister said the FMC has also taken a number of measures to check excessive speculation that impacts price volatility. These include introduction of staggered delivery system, disallowing contracts in the lean season and reduction of Final Expiry Date of some commodities.