The National Commodity & Derivatives Exchange Limited (NCDEX) on April 30, 2026, issued the Master Circular – Membership.
The following has been stated:
• It outlines the complete framework for admission of new members, eligibility criteria, net worth requirements, and application procedures, along with conditions for continuation of membership such as compliance, financial obligations, and reporting requirements.
• The circular also details approvals and intimations to the exchange, periodic and event-based compliances, maintenance of records, and reporting of transactions and client data (including Unique Client Code).
• It prescribes provisions for suspension, surrender, or termination of membership, along with applicable penalties and charges for non-compliance. Additionally, it standardizes obligations relating to governance, risk management, and operational conduct of members.
• The circular clarifies that it supersedes earlier scattered circulars by consolidating them, but in case of any inconsistency, the original circulars prevail, thereby ensuring clarity, uniformity, and regulatory compliance across all exchange members.
[Notification no. - NCDEX/MEMBERSHIP-016/2026]
