Trading Preferences applicability: exclusive commodity derivatives members may use FMC format; brokers must obtain written negative consent records. The circular exempts members exclusively of commodity derivatives exchanges from the revised Trading Preferences format and requires them to use the FMC consent format listing national commodity exchanges where clients sign for permitted exchanges, with separate consent for later additions. Brokers must provide an opt-out facility to new and existing clients, obtain written negative consent separately, and retain such records for at least five years. Exchanges must notify brokers, amend rules, monitor compliance via half-yearly audits and inspections, and report implementation monthly to SEBI.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
Trading Preferences applicability: exclusive commodity derivatives members may use FMC format; brokers must obtain written negative consent records.
The circular exempts members exclusively of commodity derivatives exchanges from the revised Trading Preferences format and requires them to use the FMC consent format listing national commodity exchanges where clients sign for permitted exchanges, with separate consent for later additions. Brokers must provide an opt-out facility to new and existing clients, obtain written negative consent separately, and retain such records for at least five years. Exchanges must notify brokers, amend rules, monitor compliance via half-yearly audits and inspections, and report implementation monthly to SEBI.
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