Description

Updated list of 40 equity shares eligible for non-cash component of liquid assets with VAR-based haircuts and quantity limits.

Summary

NSE has issued a revised list of approved securities and banks, specifically updating Annexure 1 which contains 40 equity shares that form part of the non-cash component of liquid assets. The list includes major blue-chip stocks with specified quantity limits and VAR-based haircut requirements.

Key Points

  • 40 equity shares approved for non-cash component of liquid assets
  • VAR-based haircut applicable for all listed securities
  • Maximum 25% limit per security of total margins for members
  • Overall permitted quantities specified across all segments
  • FO segment shows N.A for memberwise permitted quantities
  • List includes major stocks like RELIANCE, HDFCBANK, ICICIBANK, INFY, ITC

Regulatory Changes

  • Updated approved securities list with current quantity limits
  • Maintained VAR-based haircut methodology
  • Continued 25% maximum exposure limit per security

Compliance Requirements

  • Trading members must adhere to specified quantity limits for each approved security
  • Maximum 25% of total margins can be in any single security
  • VAR-based haircuts must be applied to all approved securities
  • Members must comply with overall permitted quantities across all segments

Important Dates

  • Circular dated: August 21, 2025
  • Implementation: Immediate effect (date not specified)

Impact Assessment

  • Provides clarity on eligible securities for margin purposes
  • Ensures diversification through 25% limit per security
  • Maintains liquidity requirements through approved blue-chip stocks
  • No significant operational changes as this appears to be a routine update
  • Affects risk management and collateral planning for trading members

Impact Justification

Routine update of approved securities list affecting margin and collateral requirements for trading members