CIRCULAR
SEBI/HO/MRD/MRD-PoD-1/P/CIR/2024/13 March 05, 2024
The Managing Directors / Chief Executive Officers
All Recognised Stock Exchanges and Clearing Corporations having Commodity
Derivatives Segment
Sir / Madam,
Subject: List of goods notified under SCRA, 1956
1. Ministry of Finance vide notification number S.O.1002(E) dated March 01, 2024
has notified list of goods under clause (bc) of Section 2 of SCRA, 1956, thereby
superseding the earlier notification number S.O. 3068(E) dated September 27,
2016 issued on the same subject. The new list of goods notified vide notification
dated March 01, 2024, includes additional thirteen (13) goods and alloys for five
(5) metals, thereby increasing the list of goods on which derivatives can be
launched from ninety-one (91) to one hundred and four (104). The list of additional
(13) goods and alloys for five (5) metals is as follows:
Table 1
S. No. Goods Category
1. Apple Fruits and Vegetables
2. Cashew Dry fruits
3. Garlic Spices
4. Skimmed Milk Powder Dairy and Poultry
5. White Butter Dairy and Poultry
6. Weather Activities, Services, Rights,
Interests and Events
7. Processed Products of Timber Forestry
8. Processed Products of Bamboo Forestry
9. Bitumen Chemicals
10. Cement Construction
11. Freight including trucks, Activities, Services, Rights,
railways, waterways, airways Interests and Events
12. Palladium (including variants Precious metals
such as coins, bars etc.)
13. Manganese Metals
14. Aluminium and Aluminium Alloys Metals
15. Copper and Copper Alloys Metals
16. Lead and Lead Alloys Metals
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17. Nickel and Nickel Alloys Metals
18. Zinc and Zinc Alloys Metals
Inclusion of alloys of metals is appearing along with metals, hence, number of new goods has
increased by thirteen in total list of goods of one hundred and four.
2. Ministry of Finance vide notification number S.O.1003(E) dated March 01, 2024
has also issued a notification declaring a contract for the purchase or sale of a right
to buy or sell, or a right to buy and sell in future, such underlying goods, as notified
under clause (bc) of Section 2 of SCRA, 1956. This notification supersedes the
earlier notification number S.O. 3743(E), dated the 18th October, 2019 issued on
the same subject.
3. Accordingly, in Master Circular for Commodity Derivatives Segment (hereinafter
referred to as Master Circular) dated August 04, 2023, the reference drawn to
earlier Notifications No. S.O. 3068(E) dated September 27, 2016 is being replaced
with Notification no. S.O.1002(E) dated March 01, 2024, as follows:
3.1. Para 2.1.1 of Chapter 2 in Master Circular shall read as follows:
2.1.1 Pursuant to the repeal of the Forward Contracts (Regulation) Act, 1952
(“FCRA”) and amendment to the Securities Contracts (Regulation) Act,
1956 (“SCRA”), the Central Government, in exercise of the powers
conferred by clause (bc) of section 2 of the SCRA and in consultation
with the SEBI, have vide Notification No. S.O.1002(E) dated March 01,
2024 notified the goods specified therein, for the purpose of clause (bc)
of section 2 of the SCRA with effect from the date of the said notification.
3.2. Para 5.1.1 of Chapter 5 in Master Circular shall read as follows:
5.1.1 Underlying: Goods as notified vide number S.O.1002(E) dated March 01,
2024, under clause (bc) of section 2 of the Securities Contracts
(Regulation) Act, 1956.
4. The circular shall be effective from the date of issuance.
5. All Recognised Stock Exchanges and Clearing Corporations having Commodity
Derivatives Segment are advised to:
5.1. take steps to make necessary amendments to the relevant bye-laws, rules and
regulations for the implementation of this circular;
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5.2. bring the provisions of this circular to the notice of the members of the Stock
Exchange and Clearing Corporation as well as disseminate the same on their
website; and
5.3. communicate to SEBI, the status of the implementation of the provisions of this
circular.
6. 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.
7. The Circular is issued with the approval of the competent authority.
8. 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
Policy and Development 1 (Commodities)
Market Regulation Department
naveens@sebi.gov.in
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