MANU/SDER/0003/2015

Ministry : Securities and Exchange Board of India

Department/Board : Market Intermediaries Regulation and Supervision Department

Circular No. : CIR/MIRSD/4/2015

Date : 29.09.2015

Notification/ Circulars Referred : Notification No. SEBI/LAD-NRO/GN/2015-16/017 MANU/SREG/0026/2015;Circular No. SMD/POLICY/CIR-11/98 dated March 16, 1998 MANU/SSMD/0025/1998

Citing Reference:
Notification No. SEBI/LAD-NRO/GN/2015-16/017 MANU/SREG/0026/2015  Referred

Circular No. SMD/POLICY/CIR-11/98 dated March 16, 1998 MANU/SSMD/0025/1998  Referred

To,

All recognized Commodity Derivatives Exchanges and its members

Dear Sir/ Madam,

Registration of Members of Commodity Derivatives Exchanges

1. Pursuant to the Notification No. SEBI/LAD-NRO/GN/2015-16/017 dated September 07, 2015 amending the SEBI (Stock Brokers and Sub-Brokers) Regulations, 1992 (hereinafter referred to as Stock Broker Regulations), all existing members of commodity derivatives exchanges who satisfy the eligibility requirements for membership, as prescribed in the rules, regulations and bye-laws of the exchange of which it holds membership, shall be eligible to apply for registration to SEBI, within a period of three months from September 28, 2015.

2. Such existing members of commodity derivatives exchanges shall be required to meet the eligibility criteria as specified under Rule 8 of Securities Contract (Regulation) Rules, 1957 (hereinafter referred to as SCRR), within a period of one year from the date of transfer and vesting of rights and assets of the Forward Market Commission (FMC) with SEBI i.e., by September 28, 2016.

3. Any person desirous of becoming a member of any commodity derivatives exchange(s), on or after September 28, 2015, shall have to meet the eligibility criteria to become a member of an exchange and conditions of registration, as specified in SCRR and Stock Broker Regulations, respectively.

4. The application for regist........