MASTER CIRCULAR
SEBI/HO/MRD2/MRD2_DCAP/P/CIR/2021/0000000591 July 5, 2021
To,
All Recognized Stock Exchanges
All Recognized Clearing Corporations
Dear Sir/Madam,
Sub: Master Circular for Stock Exchange and Clearing Corporations
1. SEBI, from time to time, has been issuing various circulars/directions to Stock
Exchanges and Clearing Corporations. In order to enable the users to have an
access to all the applicable circulars/directions at one place, Master Circular for
Stock Exchanges and Clearing Corporations has been prepared.
2. This Master Circular is a compilation of the relevant circulars/communications
issued by SEBI up to March 31, 2021 and shall come into force from the date of
its issue. References in the circular to the Statutes/Regulations which now
stand repealed, have been suitably updated.
3. The Master Circular is a compilation of all the existing/applicable circulars
issued by Market Regulation Department of SEBI to Stock Exchanges and
Clearing Corporations. Efforts have been made to incorporate relevant
circulars issued by other departments of SEBI to Stock Exchanges and Clearing
Corporations, pertaining to the areas specified in Enclosure.
4. In case of any inconsistency between the Master Circular and the applicable
circulars, the content of the relevant circular shall prevail.
5. This Master Circular shall supersede the previous Master Circular
SEBI/HO/MRD/DP/CIR/P/117 dated October 25, 2019, and is available on
SEBI website at www.sebi.gov.in.
Yours faithfully
Sudeep Mishra
General Manager
Enclosures:
Chapter 1: Trading
Chapter 2: Trading Software and Technology
Chapter 3: Settlement
Chapter 4: Comprehensive Risk Management for Cash Market and Debt Segment
Chapter 5: Exchange Traded Derivatives
Chapter 6: Administration of Stock Exchanges and Clearing Corporations