The National Commodity & Derivatives Exchange Limited (NCDEX) on April 16, 2026, issued Master Circular – Surveillance & Investigation.
The Exchange has released a comprehensive Master Circular on Surveillance & Investigation, consolidating various circulars and directions issued from time to time into a single, accessible document. This initiative aims to provide market participants with a unified reference point for all applicable surveillance-related guidelines, while also incorporating relevant provisions from SEBI regulations currently in force.
The circular clarifies that in the event of any inconsistency between the Master Circular and the original circulars, the provisions of the original circulars will prevail. It further ensures continuity by stating that any actions taken, investigations initiated, disciplinary proceedings, or obligations incurred under previously issued or now-rescinded circulars will remain valid and enforceable as if those circulars had not been withdrawn.
Additionally, past rights, liabilities, penalties, and ongoing legal or regulatory proceedings will remain unaffected by the issuance of this Master Circular. The earlier Master Circular has been rescinded and is available on the NCDEX website for reference. All members, clients, and market participants are advised to take note of the updated framework and ensure continued compliance.
[Circular No : NCDEX/SURVEILLANCE & INVESTIGATION-047/2026]
