Circular No.

: ICEX/TRADING/2018/253 Date: December 01, 2018

Dept.: Trading

Subject: Revision in Trading Hours

In terms of the provisions of the Bye-laws, Rules and Regulations of the Exchange and in
continuation to the Exchange Circular no. ICEX/TRADING/2018/208 dated October 10, 2018 and
SEBI circular No. SEBI/HO/CDMRD/DMP/CIR/P/2018/146 dated November 30, 2018; the
members of the Exchange are notified that the trading hours shall be revised as under:

Client Code
Commodity Pre-Open Trade Start Trade End
Sr. Modification Session
Category Session Time Time Time
Time

08:45 AM 11:30 PM 11:30 PM to 11:45 PM

Non-Agricultural
1 to 09:00 AM OR OR
Commodities
09:00 AM 11:55 PM* 11:45 PM to 11:59 PM*

Agricultural and 08:45 AM

2 Agri-processed to 09:00 AM 9:00 PM 09:00 PM to 09:15 PM
Commodities 09:00 AM
* Due to End of US Day Light Savings in Fall Season - currently applicable till March 08, 2019.
The above revision of trading timings shall be effective from December 31, 2018.
SEBI circular No. SEBI/HO/CDMRD/DMP/CIR/P/2018/146 dated November 30, 2018 as
mentioned above is attached as Annexure for information.

Members and their constituents are requested to take note of the same.
For and on behalf of
Indian Commodity Exchange Limited

Sushil Mishra
Asst. Vice President - Market Operations
______________________________________________________________________________
Kindly contact customer support team on 022-40381547/53/62/69 or send an e-mail at
customercare@icexindia.com for any clarification.

Corporate Office: Reliable Tech Park, B-Wing, 403-A, 4th Floor, Thane-Belapur Road Airoli, Navi
Mumbai – 400 708, India. T: +91 022-40381500, F: +91 022-40381511 Web site: www.icexindia.com
CIN: U67120GJ2008PLC099142
 CIRCULAR

SEBI/HO/CDMRD/DMP/CIR/P/2018/146 November 30, 2018

To,

The Managing Directors / Chief Executive Officers

All Recognised Stock Exchanges and Clearing Corporations having
commodity derivatives segment

Sir / Madam,

Sub: Trading hours for commodity derivatives segment

1. Vide circular SEBI/HO/CDMRD/DMP/CIR/P/2016/75 dated August 30, 2016

SEBI had inter-alia specified commodity category-wise time limits within which
exchanges are permitted to fix trading hours for trading in derivatives
contracts.

2. In order to deepen the commodity derivatives markets as well as to enhance

the participation of stakeholders such as Farmers Producers Organizations
(FPOs), value chain participants, foreign entities having actual exposure to
Indian physical markets etc., as recommended by the Commodity Derivatives
Advisory Committee, it has been decided to extend the trade time within
which recognized stock exchanges can set their trading hours for their
commodity derivatives segment. The revised trade timings are as under:

S. Commodity Category Trade Start Trade End time

No Time
After Start of US After End of US
Day light Savings Day light
in Spring Season Savings in Fall
Season
Non-Agricultural
1 09:00 AM 11:30 PM 11:55 PM
Commodities

Agricultural and Agri-

2 09:00 AM 09:00 PM
processed Commodities

3. The extension of the trade timing is subject to the Stock Exchange and its
Clearing Corporation(s) putting in place adequate risk management system,
surveillance system and infrastructure commensurate with the increased
trading hours.

4. Thus, para 4 of the circular dated August 30, 2016 stands modified
accordingly.

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5. The provisions of this circular shall come into effect from 30 days from the
date of this circular.

6. This circular is issued in exercise of the powers conferred under Section 11(1)
of the Securities and Exchange Board of India Act 1992 to protect the
interests of investors in securities and to promote the development of, and to
regulate the securities market.

7. Exchanges and Clearing Corporations are advised to:

i. to make necessary amendments to the relevant bye-laws, rules and
regulations.
ii. bring the provisions of this circular to the notice of the stock brokers of the
Exchange and also to disseminate the same on their website.
iii. communicate to SEBI, the status of the implementation of the provisions of
this circular.

8. This circular is available on SEBI website at www.sebi.gov.in under the

category “Circulars” and “Info for Commodity Derivatives”.

Yours faithfully,

Vikas Sukhwal
Deputy General Manager
Division of New Products and Market Policy
Commodity Derivatives Market Regulation Department
vikass@sebi.gov.in

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