As per a recent circular, w.e.f. 24-Apr-2024 Futures and Options contracts on the Nifty Next 50 Index shall be made available for trading in the Future & Options segment. The settlement procedure and details shall be intimated separately by the respective clearing corporations.
The relevant information about the monthly futures and options contracts is as follows:
| Particulars | Futures | Options |
| Symbol | NIFTYNXT50 | NIFTYNXT50 |
| Instrument | FUTIDX | OPTIDX |
| Tick Size (Price Steps) | Re 0.05 | Re 0.05 |
| Contract Size (Lot Size) | 10 | 10 |
| Trading Cycle | 3 serial monthly contracts | 3 serial monthly contracts |
| Expiry Day | Last ‘Friday’ of the expiry month for the monthly. If the last ‘Friday’ is a trading holiday, then the expiry day is the previous trading day | Last ‘Friday’ of the expiry month for the monthly. If the last ‘Friday’ is a trading holiday, then the expiry day is the previous trading day |
| Strike Scheme | - | Strike Interval of 100 with strikes 40 1 40 and Strike Interval of 500 with strikes 20 1 20 (Including 500 strikes due to strike interval of 100) |
| Option Type | - | Call European (CE) and Put European (PE) |
| Settlement | Cash Settled | Cash Settled |
| Daily Settlement Price | Closing price of the futures contract. If illiquid, then the theoretical price will be considered | - |
| Final Settlement Price | Index closing value on the last trading day | Index closing value on the last trading day |
| Price Band | An operating range of 10% of the base price | A contract specific price range based on its delta value is computed and updated daily |
| Quantity Freeze | 600 | 600 |
| Spread Contracts | M1-M2; M1-M3; M2-M3 | - |
Please note on 24-Apr-2024, the following expiry cycle will be available:
| Expiry Cycle | Expiry Day |
| May-2024 | May 31, 2024 |
| June-2024 | June 28, 2024 |
| July-2024 | July 26, 2024 |
Further note that all the existing clearing and settlement procedures along with the extant risk management measures adopted for futures and options contracts such as initial margins, minimum margins, position limits, etc., including the right of Clearing Corporation to close out positions shall apply mutatis mutandis to these contracts also.
Refer: NSE Circular | NSE Circular
