Delivery Period for Interest Rate Futures

EXECUTIVE DIRECTOR


SEBI/DNPD/Cir- 49 /2009

December 22, 2009

To,

Recognized Stock Exchanges and their Clearing Corporations / Clearing Houses, Clearing Members and Trading Members

Dear Sir/s,

SUB: Delivery Period for Interest Rate Futures

This is in continuation of SEBI Circular No. SEBI/DNPD/Cir- 46 /2009 dated August 28, 2009 regarding Exchange Traded Interest Rate Futures.

Based on feedback received from Exchanges, it has been decided to allow Exchanges to set any period of time during the delivery month as the delivery period for the deliverable grade securities.

This circular is being issued in exercise of the powers conferred under Section 11 (1) of the Securities and Exchange Board of India Act 1992, read with Section 10 of the Securities Contracts (Regulation) Act, 1956 to protect the interests of investors in securities and to promote the development of, and to regulate the securities market.

This circular is available on SEBI website at www.sebi.gov.in., under the category “Derivatives- Circulars”.

Yours faithfully,

J.N.GUPTA