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Market regulator SEBI has reduced the advance intimation on commodity derivatives contract modification to 10 days from 30 days.
In a circular issued on Thursday, SEBI said stock exchanges can modify contracts and have to inform SEBI and market participants along with reasons for the modifications.
Based on the modifications, they are categorised under A, B and C and exchanges have to inform investors 10 days in advance for Category A modification and in 30 days for other changes in contract.
In order to bring in uniformity while giving effect to the contract modifications so that they have the desired impact, it has been decided to reduce the number of days of advance intimation for all the three categories to 10 days, said SEBI.
The circular will come into immediate effect, it added.
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