Dealing in Commodities
Discretion of the Exchange
- The Exchange will be the authority to finalise contract specifications and modifications, and has the right to determine, specify or modify the varieties of the commodity or group of commodities to be traded on its platform from time to time.
- The Exchange also has the right to determine, specify or modify the position limits with respect to the commodities permitted on the Exchange and terms of contract specifications.
Contracts to abide to
- Members of the Exchange will execute and clear transactions only in those contracts as will be specified by the Exchange from time to time.
- A member will sign a written agreement with a client before executing a trade for him, as per the procedure and in the format, as may be specified by the Exchange.
- Members will enter into contracts only on the terms and conditions prescribed under the rules, circulars and notices issued under the rules.
- No member of the Exchange will enter into a contract for commodities or varieties that are not specified by the exchange.
- The death of any party to a contract made subject to these Rules shall not discharge the legal representatives of the deceased from fulfilling the obligations or enjoying the benefits of a transaction.
The dealings in agricultural produce or any other commodities on the Exchange will be subject to relevant regulations, directives, or orders of organs of Government with competent and relevant jurisdiction. Where there is inconsistency with the general provisions of the Rules of the Exchange, the conditions provided in the relevant regulations will prevail.