Description

Updated list of 40 equity securities approved for non-cash component of liquid assets with applicable haircuts and quantity limits.

Summary

NSE has issued a revised list of 40 approved equity securities that can form part of the non-cash component of liquid assets for margin requirements. The list includes major blue-chip stocks with specified quantity limits and VAR-based haircuts.

Key Points

  • 40 equity securities approved for collateral deposits as non-cash liquid assets
  • VAR (Value at Risk) based haircuts applicable on all approved securities
  • Maximum 25% concentration limit per security of total margins per member
  • Overall permitted quantities specified for each security across all segments
  • COMM segment shows “N.A” for memberwise permitted quantities
  • List includes major indices constituents like RELIANCE, HDFCBANK, ICICIBANK, INFY, TCS

Regulatory Changes

  • Updated approved securities list with current quantity limits
  • Maintains existing VAR-based haircut methodology
  • Concentration limits remain at 25% per security per member

Compliance Requirements

  • Trading members must adhere to maximum 25% concentration per approved security
  • Deposits subject to overall permitted quantities as specified
  • VAR-based haircuts to be applied on all collateral securities
  • Members to monitor collateral composition against approved list

Important Dates

  • Circular dated: August 21, 2025
  • Immediate applicability for collateral management

Impact Assessment

  • Provides clarity on acceptable collateral for margin requirements
  • Supports liquidity management for trading members
  • Ensures diversification through concentration limits
  • Covers major market cap stocks reducing operational complexity

Impact Justification

Affects collateral management for trading members across multiple blue-chip securities