Expelled from one, expelled from all: FMC

However, the expulsion, will not spill over from equity to commodity futures market

To bring uniformity in commodity futures market, the regulator Forward MarketsCommission (FMC) has directed exchanges to expel members who have been expelled by any commodity exchange.

In a directive issued on Tuesday, the FMC said, "In case of expulsion of a member from one commodity exchange, such member would ipso facto stand expelled from all other commodity exchange where he is a member.

"The expulsion, however, will not spill over from equity to commodity futures market. "In case of member suspended / debarred by a stock exchange, such action will not lead to suspension of member of any of the commodity exchanges since, members / brokers trading on the commodity exchanges cannot be the same entity which is a member/ broker of a stock exchange," the FMC circular said.

Further, the regulator clarified that disciplinary action taken by a commodity exchange against a member in the form of reprimand, fines, warnings, suspension etc maybe confined only to the commodity exchange which has taken such action. However, the concerned commodity exchange shall intimate others about such action taken against any member.