Quick summary
SEBI modifies Settlement Guarantee Fund (SGF) coverage for Commodity Derivatives Segment, changing the calculation of credit exposure due to simultaneous default of clearing members.
Who is affected
Recognised Clearing Corporations having Commodity Derivatives Segment are affected by this modification.
What changes
The modification changes the calculation of credit exposure due to simultaneous default of at least 3 clearing members (and their associates) causing highest credit exposure, as opposed to the previous requirement of at least 2 clearing members.
Action items
Clearing Corporations should update their calculations for credit exposure due to simultaneous default of clearing members according to the modified provisions.
Key dates-deadlines
The circular comes into force with immediate effect, as of March 16, 2026.
Source reference
HO/47/16/14(1)2026-MRD-POD1/I/7115/2026, March 16, 2026