Securities and Exchange Board of India
July 01, 2021
The Managing Directors/Chief Executive Officers
All Stock Exchanges and Clearing Corporation with Commodity Derivatives Segment
Dear Sir / Madam,
Sub: Master Circular for Commodity Derivatives Market
1. Securities and Exchange Board of India (SEBI) has been issuing various circulars/directions from time to time for commodity derivatives market.
2. In order to ensure availability of comprehensive information mentioned in the circulars at one place, SEBI has been releasing Master Circular by compiling all the circulars issued by the department till the date of Master circular. With the said objective, Commodity Derivatives Market Regulation Department (CDMRD) also has been issuing a Master circular comprising of information mentioned in various circulars pertaining to commodity derivatives segment. Further, references in the circular to the Statutes/Regulations which now stand repealed have been suitably updated. Efforts have also been made to incorporate certain applicable provisions of existing circulars issued by other departments of SEBI relevant to commodity derivatives markets. This circular has covered various circulars issued till April 30, 2021.
3. The term “national commodity derivatives exchanges” or “regional commodity derivatives exchanges” or “commodity derivatives exchanges” have been suitably replaced with stock exchanges; wherein stock exchanges means recognized stock exchange having commodity derivatives segment.
4. It is hereby clarified that in case of any inconsistency between the Master Circular and the original applicable circular, the content of the original circular shall prevail.
5. This Master Circular shall supersede previous Master Circular SEBI/HO/CDMRD/DNPMP/CIR/P/2020/118 dated July 10, 2020.
6. This circular is available on SEBI Website at www.sebi.gov.in under the category “Circulars” and “Info for Commodity Derivatives.”
Division of Market Policy
Commodity Derivatives Market Regulation Department