CIRCULAR
SEBI/HO/MRD/MRD-PoD-1/P/CIR/2024/57 May 24, 2024
The Managing Directors / Chief Executive Officers
All Recognised Stock Exchanges and Clearing Corporations having Commodity
Derivatives Segment
Dear Sir / Madam,
Subject: Modification in Staggered Delivery Period in Commodity Futures
Contracts
1. SEBI vide ‘Master Circular for Commodity Derivatives Segment’ dated August 04,
2023 has issued various requirements for stock exchanges and clearing
corporations for compliance in commodity derivatives segment. Chapter 11 of
aforementioned Master Circular deals with Delivery and Settlement.
2. Based on representations received from market participants and deliberations by
Commodity Derivatives Advisory Committee (CDAC) of SEBI, paragraph 11.1.3 of
the aforementioned Master Circular on Minimum duration of staggered delivery
stands revised as follows and other conditions remain the same:
“11.1.3. The minimum duration of staggered delivery period shall be at least three
working days.”
3. The circular shall be effective from July 01, 2024 i.e., for contracts where staggered
delivery is scheduled after this date.
4. The Stock Exchanges and Clearing Corporations are advised to bring the
provisions of this circular to the notice of their members and also to disseminate
the same on their website.
5. This Circular is issued in exercise of the powers conferred under Section 11 (1) of
the Securities and Exchange Board of India Act, 1992, to protect the interests of
investors in securities and to promote the development of, and to regulate the
securities market.
6. The Circular is issued with the approval of the competent authority.
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7. This circular is available on SEBI website www.sebi.gov.in under the category
“Circulars” and “Info for Commodity Derivatives”
Yours faithfully,
Naveen Sharma
General Manager
Market Regulation Department
naveens@sebi.gov.in
Phone No.: 022-26449709
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