Master Circular for Commodity Derivatives Market
Summary
This section introduces the SEBI Master Circular for the Commodity Derivatives Market, issued on July 10, 2020. It clarifies that the document compiles existing circulars from the Commodity Derivatives Market Regulation Department and updates references to repealed statutes. The circular supersedes previous master circulars and establishes that original circular content prevails in case of inconsistencies. This section presents the table of contents for Chapters 11 through 15 and various Annexures of the SEBI Master Circular. It outlines regulatory frameworks for warehousing norms, investor protection funds, grievance redressal, exchange governance, and technology standards. The text also includes an introduction clarifying terminology updates and the hierarchy between the Master Circular and original circulars. This section provides a comprehensive list of abbreviations used throughout the document, ranging from AD to WSP. It subsequently initiates Chapter 1 on Trading, specifically addressing trading hours and holidays in Section 1.1. The text defines permitted trading days as Monday through Friday and establishes specific time limits for non-agricultural and agricultural commodi
Text
Securities and Exchange Board of India (SEBI) has been issuing various circulars/directions from time to time for commodity derivatives market.
This Master Circular is a compilation of the circulars issued by Commodity Derivatives Market Regulation Department (CDMRD) pertaining to domestic commodity derivatives segment... references in the circular to the Statutes/Regulations which now stand repealed have been suitably updated.
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.
This Master Circular shall supersede previous Master Circular CDMRD/DMP/CIR/P/2018/126 dated September 07, 2018.
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.
References to the various Statutes/Regulations which now stand repealed have been suitably updated.
Efforts have been made to incorporate certain applicable provisions of existing circulars (as on date) issued by other departments of SEBI relevant to commodity derivatives markets.
In case of any inconsistency between the Master Circular and the original applicable circular, the content of the original circular shall prevail.
Trading shall be permitted only from Monday to Friday.
Trading hours shall be fixed by the stock exchanges within the time limits as mentioned in the table below
Non-agricultural commodities: Trade start time 09:00 AM; Trade end time After start of US day light savings in spring season 11:30 PM; After end of US day light savings in fall season 11:55 PM
Agricultural and agri-processed commodities: Trade start time 09:00 AM; Trade end time 09:00 PM
You have read the preview. Create a free account to read the full document and see every order that applied it.
Free accounts include 10 searches/day with full text access.
Source: SecMarx — Master Circular for Commodity Derivatives Market. Verbatim text is public record; SecMarx structuring (linkage to applying orders) is cited to us.