Options in commodity derivatives permitted, subject to SEBI approval and exchange amendments and compliance with disclosure requirements. Commodity Derivatives Exchanges are permitted to introduce trading in options as a new derivative class to develop the market. Exchanges must obtain prior SEBI approval, amend relevant bye-laws, notify members and publish provisions on their websites, and report implementation status to SEBI. The circular is effective immediately and issued under Section 11(1) of the SEBI Act to promote market development and protect investor interests.