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November 21, 2024
Revision in Market Lot for Index Derivatives Contracts
The market lot sizes have been revised for both NSE and BSE Indices to comply with the guidelines mentioned in the SEBI Circular (SEBI/HO/MRD/TPD-1/P/CIR/2024/132) dated 01-Oct-24 on measures to strengthen the equity index derivatives framework for increased investor protection and market stability.
As per the NSE Circular, w.e.f. 20-Nov-24, the lot size for index derivatives has been revised as follows:
|
Sr. No. |
Underlying Index |
Symbol |
Existing Lot Size |
Revised Market Lot |
|
1 |
Nifty 50 |
NIFTY |
25 |
75 |
|
2 |
Nifty Bank |
BANKNIFTY |
15 |
30 |
|
3 |
Nifty Financial Services |
FINNIFTY |
25 |
65 |
|
4 |
Nifty Midcap Select |
MIDCPNIFTY |
50 |
120 |
|
5 |
Nifty Next 50 |
NIFTYNXT50 |
10 |
25 |
The market lot of BSE index derivatives for contracts introduced after 20-Nov-24 has been revised as follows as per the BSE Circular:
|
Underlying Index |
Existing Market Lot |
Revised Market Lot |
|
BSE Sensex |
10 |
20 |
|
BSE Bankex |
15 |
30 |
|
BSE Sensex 50 |
25 |
60 |
In light of the above, please note the following changes regarding transitioning existing positions into new lot sizes.
- The existing weekly and monthly expiry contracts (Table 1) will continue with the existing lot size until their respective expiry dates.
Table 1
|
S. No. |
Index Derivative |
Expiration Cycle |
Last Expiry Date (Old Lot Size) |
First Expiry Date (New Lot Size) |
|
1 |
NIFTY |
Weekly |
19-Dec-24 |
02-Jan-25 |
|
Monthly |
30-Jan-25 |
27-Feb-25 |
||
|
2 |
BANKNIFTY |
Monthly |
29-Jan-25 |
26-Feb-25 |
|
3 |
SENSEX |
Weekly |
03-Jan-25 |
10-Jan-25 |
|
Monthly |
31-Jan-25 |
28-Feb-25 |
2. Existing quarterly and half-yearly (long-dated) expiry contracts shall be transitioned to the new lot size as per Table 2 below.
Table 2
|
S. No. |
Underlying Index |
Symbol |
Expiry Dates of Existing Long-dated Open Contracts |
Last Date of Existing Lot Size |
|
1 |
Nifty 50 |
NIFTY |
27-Mar-25 26-Jun-25 25-Sep-25 24-Dec-25 25-Jun-26 31-Dec-26 24-Jun-27 30-Dec-27 29-Jun-28 28-Dec-28 28-Jun-29 |
26-Dec-24 |
|
2 |
Nifty Bank |
BANKNIFTY |
26-Mar-25 25-Jun-25 24-Sep-25 |
24-Dec-24 |
3. No action will be allowed in the odd lot quantity after 24-Dec-24 for BANKNIFTY, 26-Dec-24 for NIFTY Contracts, and 27-Dec-24 for SENSEX Contracts. Investors with positions will have to carry until maturity and the remaining odd lot quantities will be settled in cash on their respective original expiry date only.
4. No impact of Stock derivative contracts.
5. Spread Orders will not be available in existing lot sizes for Feb-25 or beyond rollovers. i.e Dec-24 & Feb-25, Jan-25 & Feb-25 and Feb-25 & Mar-25.
The complete details regarding the transition of existing positions into the new lot-size contracts will be shared with the concerned people on their mapped credentials.
