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Inventory exchanges will monitor compliance by at the least 4 random snapshots in the course of the buying and selling day, together with one near market closing time when exercise usually peaks, based on a SEBI round on Monday.
Exchanges will use the underlying worth on the time of every snapshot to evaluate positions. Entities can take extra publicity in opposition to securities or money holdings as per earlier pointers.
If limits are breached, exchanges will look at buying and selling patterns, search explanations from shoppers, and evaluation trades in index constituents. Such circumstances may even be mentioned with SEBI in surveillance conferences.
On choices expiry days, breaches will entice penalties or extra surveillance deposits as decided by exchanges.
As per the SEBI round, the adjustments have been introduced because of situations of outsized intraday FutEq positions created by sure entities in index choices on the day of contract expiry and the dangers to market integrity thereof. The transfer follows SEBI’s scrutiny of high-frequency buying and selling agency Jane Avenue.
Inventory exchanges and clearing firms should problem a joint customary working process inside 15 days, with the foundations efficient from October 1, 2025, and expiry-related penalties relevant from December 6, 2025.
The regulator stated the measures would deliver predictability, operational readability, and safeguard orderly buying and selling whereas permitting energetic participation by liquidity suppliers and market makers.
