Description

ICCL introduces base position reporting for clearing members at proprietary/constituent level for stocks in ban period, effective December 08, 2025.

Summary

Indian Clearing Corporation Limited (ICCL) will provide clearing members with detailed base position reports at proprietary and constituent levels for stocks placed in ban. The new file format and reporting structure will be available through the FNO Transaction section, enabling better risk monitoring and trading convenience in equity derivatives.

Key Points

  • Clearing members will receive base position details for stocks in ban at proprietary/constituent level
  • Files will be available at: Home > FNO > Transaction > Month-YYYY > DD-MM-YYYY
  • File nomenclature: BASEPOSITION_CMID_DDMMYYYY
  • Report includes comprehensive details: date, member IDs, client IDs, contract details, product type (SO/SF), expiry date, strike price, option type, and base positions
  • Base positions shown are applicable for the next trading day
  • Reference to SEBI circular SEBI/HO/MRD/TPD-1/P/CIR/2025/79 dated May 29, 2025
  • Reference to ICCL circulars 20250530-26 (May 30, 2025) and 20251001-1 (October 01, 2025)

Regulatory Changes

This circular implements provisions outlined in prior SEBI and ICCL circulars regarding enhanced risk monitoring in equity derivatives. The new base position reporting mechanism strengthens surveillance of stocks in ban period by providing granular position-level data to clearing members.

Compliance Requirements

  • Clearing members must access and review base position files for stocks in ban
  • Members should monitor proprietary and constituent positions using the provided file format
  • Data fields to track include: CM ID, Trading Member ID, UCC code, contract details, product type (Stock Options/Stock Futures), expiry dates, strike prices, option types, and base positions
  • Contact Risk Department at risk.iccl@icclindia.com or risk.monitoring@icclindia.com for assistance
  • Contact numbers: +91-22-22728699/5059/8679

Important Dates

  • Circular Date: November 28, 2025
  • Effective Date: December 08, 2025
  • Notice Number: 20251128-6

Impact Assessment

This measure enhances operational transparency and risk monitoring capabilities for clearing members dealing with stocks in ban period. The structured file format enables systematic tracking of derivative positions (both stock options and stock futures) at granular levels. Impact is primarily operational, improving risk management processes without directly changing trading rules. Members benefit from better visibility into positions that may be subject to restrictions, facilitating proactive risk mitigation.

Impact Justification

Operational enhancement for clearing members to monitor base positions in stocks under ban. Important for risk management but primarily affects operational processes rather than trading rules.