The second proposal seeks to permit FPI participation in non-cash settled, physically settled non-agricultural commodity derivatives, subject to safeguards. It would also facilitate greater integration of India’s commodity derivatives market with international commodity markets and support the development of Indian commodity contracts as credible price-discovery venues. Further, the current risk management framework in commodity derivatives market is adequate to take care of the anticipated participation by FPI. Mr Aayush Rastogi, AM ([email protected])Issued on: August 11, 2026Annexure-ADRAFT CIRCULARHO/47/16/13(17)2026-MRD-POD1/___#IssuedDate#To,The Managing Directors / Chief Executive Officers,All Recognized Stock Exchanges/Clearing Corporations having Commodity Derivatives SegmentSir / Madam,Sub: FPI Participation in Exchange Traded Commodity Derivatives (ETCDs)1. This Circular is available on SEBI website sebi.gov.in under the category “Circulars” and “Info for Commodity Derivatives”.