Currently, the domestic commodity futures market functions from 10.00 AM to 5.00 PM for agricultural commodities and from 10.00 AM to 11.30/11.55 PM for the internationally referenceable non-agricultural commodities on all working days and from 10.00AM to 2.00PM for all commodities on Saturdays.
In this regard, the Commission has received the following feedback from the Exchanges, members of exchanges and the physical market participants:-
- As the international commodities futures markets remain closed on Saturdays, the rationale for keeping the domestic futures markets for the non-agricultural commodities open on Saturdays does not hold good,
- The domestic physical markets for agricultural commodities usually remain open on Saturdays
- Saturday may be declared closed for trading so as to allow the exchanges and their members to utilise the day exclusively for housekeeping, maintenance of record, attend to compliance matters etc .Keeping the aforesaid in view, the Commission has decided that all the commodities exchanges shall keep their trading platform closed for non- agricultural commodities futures on Saturdays with immediate effect. However trading in futures of agricultural commodities will continue on Saturdays as per the existing trading hours for the time being and the matter shall be reviewed after three months.
- 3. A compliance report certifying the closure of trading in non-agricultural commodities futures on Saturdays may be communicated by all the exchanges to the Commission by 23rd September 2013.
