Amid challenges from physical commodity markets, Securities Exchange Board of India (SEBI) chairman U K Sinha said the regulator will not bring in new products in the commodities derivative market unless they have enough liquidity. The SEBI chief said that the regulator is continuously reviewing the risk management framework in the commodities segment and it would take a few more months to bring in the mechanism to the level of securities market. While talking to reporters on the sidelines of Thomson Reuters Risk Summit in Mumbai Sinha said that price discovery in this country is very complex as the physical market is controlled by the states and there are many obstacles and measures under the essential commodities Act. That is why SEBI has been very careful in allowing trading in new commodities. Unless SEBI is assured that there is enough liquidity in some commodities it will not go ahead. He added that the problems in physical market and also the stage of development of warehousing mechanism in the country doesn't give SEBI the comfort to progress on the same in a big way immediately. Noting that the surveillance and risk management framework in the commodity market is developing, Sinha said the process of bringing the system at par with the equities market would take a few months. He also noted that commodities market has huge potential of growth but it should be approached in a cautious manner.