Contract Size Revision for Index Derivatives for quarterly and half-yearly contracts:

In reference to the SEBI circular SEBI/HO/MRD/TPD-1/P/CIR/2024/132 dated October 1, 2024, regarding measures to strengthen the equity index derivatives framework for enhanced investor protection and market stability., 

Please note the following changes regarding the lot size for quarterly and half-yearly contracts:

BANKNIFTY:
The existing quarterly and half-yearly expiry contracts will transition to the new lot size by the end of the day on December 24, 2024.

NIFTY:

The existing quarterly and half-yearly expiry contracts will transition to the new lot size by the end of the day on December 26, 2024.

SENSEX:

The existing quarterly and half-yearly expiry contracts will transition to the new lot size by the end of the day on December 27, 2024.

Important Note:
If positions are not adjusted to the revised lot size or multiples of the revised lot size, those positions will remain open. However, odd lot sizes cannot be squared off and will remain until expiry. During this period, MTM and margin requirements will still apply.

Action Required:

• Beginning December 20, 2024, no new positions will be allowed in Bank Nifty, Nifty, and Sensex contracts with the affected expiries.
• Existing positions will be squared off to ensure they are in multiples of the revised lot size. After this adjustment, the relevant contracts will be blocked until the lot size is updated.
• The position square-off will occur one day prior to the lot size adjustment post 2.00 PM

Please ensure that you manage your positions accordingly to avoid any issues with odd lot sizes.

Exchange Circular NSE & BSE