Can company and/or LLP trade in derivative without being NBFCs

Yes, companies and LLPs can trade in derivatives without needing to be registered as NBFCs. The key requirement is to have a relevant clause in your company's Memorandum of Association (MOA) or the LLP agreement. This clause authorises the entity to engage in such trading activities. While there isn't a standard template for this, the clause needs to be specifically drafted into your LLP agreement to enable the opening of trading and demat accounts for dealing in derivatives like futures and options.