Description
BSE introduces provision of base position details at proprietary/constituent level for stocks in ban period, effective January 5, 2025.
Summary
BSE, in reference to SEBI circular SEBI/HO/MRD/TPD-1/P/CIR/2025/79 dated May 29, 2025, and ICCL circulars, announces that trading members will be provided with base position details at proprietary/constituent level for stocks placed in ban. This is part of measures for enhancing trading convenience and strengthening risk monitoring in equity derivatives. The file will be available daily with details of base positions applicable for the next day.
Key Points
- Trading members will receive daily files with base position details at proprietary/constituent level
- Applies specifically to stocks placed in ban period
- File available under path: Home > FNO > Transaction > Month-YYYY > DD-MM-YYYY
- File nomenclature: BASEPOSITION_TM_MEMBERID_DDMMYYYY
- File contains comprehensive position data including UCC code, contract details, strike prices, option types, and base positions
- Base positions shown are applicable for next day trading
- Partial modification to earlier ICCL Circular no: 20251128-6 dated November 28, 2025
Regulatory Changes
This circular implements transparency measures from SEBI circular SEBI/HO/MRD/TPD-1/P/CIR/2025/79 and ICCL Circular no: 20250530-26, providing trading members with enhanced visibility into base positions for risk monitoring purposes. It partially modifies the earlier framework established in ICCL Circular no: 20251128-6 dated November 28, 2025.
Compliance Requirements
- Trading members must access and monitor daily base position files for stocks in ban
- Members should incorporate this data into their risk monitoring processes
- File format includes fields: Date, CM ID, Member ID, Client ID, Series ID, Contract Code, Scrip ID, Symbol, Product Type (SO/SF), Expiry Date, Strike Price, Option Type (CE/PE/F), and Base Position
- Product types: SO = Stock Options, SF = Stock Futures
- Option types: CE = Call Option, PE = Put Option, F = Futures
Important Dates
- Circular Date: January 1, 2026
- Effective Date: January 5, 2025 (Note: As stated in circular)
- Reference Circulars: SEBI circular dated May 29, 2025; ICCL circular dated May 30, 2025; ICCL circular dated November 28, 2025
Impact Assessment
Operational Impact: Trading members will need to integrate the new daily base position file into their operational workflows and risk management systems. This provides better transparency for position monitoring.
Risk Management: Enhanced visibility into base positions for stocks in ban period strengthens risk monitoring capabilities and helps members manage positions more effectively.
System Requirements: Members may need to update their systems to automatically download and process the daily BASEPOSITION files from the specified path.
Contact: For assistance - Risk Department at risk.iccl@icclindia.com or risk.monitoring@icclindia.com, Contact: +91-22-22728699/5059/8679
Impact Justification
Operational update providing enhanced transparency for trading members on base positions for stocks in ban, supporting better risk monitoring but not requiring major system changes