Security & Exchange Board of India


SEBI/HO/CDMRD/DMP/CI R/P/2016/43 Dated: March 29, 2016


The Managing Directors / Chief Executive Officers of All Commodity Derivatives Exchanges

Sir / Madam,

Sub: Modification of Client Codes post Execution of Trades on National and Regional Commodity Derivatives Exchanges

1. This circular is issued with an objective to streamline the provisions of the facility of client code modification at commodity derivatives exchanges in line with the securities market. It is also being re-emphasized here that this facility is expected to be used more as an exception rather thana routine.

2. The commodity derivatives exchanges shall comply with the provisions of the directions issued by SEBI vide its circulars CIR/DNPD/6/2011 dated July 05, 2011 and CIR/MRD/DP/29/2014 dated October 21, 2014.

3. This circular is issued in exercise of the powers conferred under Section 11(1) of the Securities and Exchange Board of India Act 1992, read with Section 10 of the Securities Contracts (Regulation) Act, 1956 to protect the interests of investors in securities and topromote the development of, and to regulate the securities

4. This circular supersedes the circulars issued by the Forward Markets Commission related to Client Code Modification from time to time and shall come into force with effect from one month from the date of this circular.

5. This circular is available on SEBI website at

Yours faithfully,

Deputy General Manager
Division of Market Policy

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