The National Commodity & Derivatives Exchange Limited (NCDEX), on November 06, 2026, through its Legal Circular, has issued a Master Circular consolidating the Exchange's amended legal framework following SEBI approval dated June 22, 2026. The amendments to the Rules and Bye-Laws were notified in the Central Gazette of India on August 15, 2026, pursuant to Rule 18 of the Securities Contracts (Regulation) Rules, 1957, in connection with the introduction of equity and equity derivatives segments on the NCDEX platform.
The amended Bye-Laws revise key definitions, including Derivative, Commodity Derivative, Securities, Issuer, Segment, Stock Broker, Self-Clearing Member, Buyer and Seller. They also expressly recognise Equity, Equity Derivatives and Commodity Derivatives as trading segments, subject to applicable SEBI approvals. Further, the regulatory framework empowers the Board or Relevant Authority to prescribe requirements concerning trading membership, market-making, clearing and settlement, margins, capital adequacy, inspection, audit, disciplinary action, dispute resolution and arbitration.
Members are required to take note of the amended Rules and Bye-Laws and comply with the applicable provisions governing their exchange activities. The amendments take effect from their publication in the Gazette of India.
[NCDEX Circular No. NCDEX/Legal/03/2026]
