MANU/SDER/0011/2019
Ministry : Securities and Exchange Board of India
Department/Board : Commodity Derivatives Market Regulation Department
Circular No. : SEBI/HO/CDMRD/DOP/CIR/P/2019/135
Date : 14.11.2019
Notification/ Circulars Referred : No. SEBI/HO/CDMRD/CIR/2016/88 dated September 20, 2016 MANU/SDER/0020/2016;No. SEBI/HO/CDMRD/DRMP/CIR/P/2016/90 dated September 21, 2016 MANU/SMIS/0007/2016
Citing Reference:
No. SEBI/HO/CDMRD/CIR/2016/88 dated September 20, 2016 MANU/SDER/0020/2016 Referred
No. SEBI/HO/CDMRD/DRMP/CIR/P/2016/90 dated September 21, 2016 MANU/SMIS/0007/2016 Referred
To,
The Managing Directors/Chief Executive Officers
All Recognized Stock Exchanges having Commodity Derivatives Segment
Sir/Madam,
Modifications in the contract specifications of commodity derivatives contracts
1. SEBI vide its circular ref. no. SEBI/HO/CDMRD/CIR/2016/88 dated September 20, 2016 had inter-alia prescribed at Para 3(c) provisions regarding permission to allow modifications in contract specifications at the exchange level.
2. In order to streamline the process and after consultation with the exchanges, it has been decided to categorise the modifications in contract specification parameters in the following three categories:
a. Category A: Non-material modifications which can be made at the exchange level in yet to be launched and running contracts.
b. Category B: Material modifications which can be made at the exchange level in yet to be launched contracts or running contracts which have nil open interest. These modifications shall require approval from Product Advisory Committee and approval of Regulatory Oversight Committee to be obtained post facto.
c. Category C: Material modifications which can be made on........