Description
Three securities moved to Long-Term ASM Stage-I with 100% margin requirements effective September 8, 2025.
Summary
NSE has applied Long-Term Additional Surveillance Measure (ASM) to three securities effective September 4, 2025, with enhanced margin requirements taking effect September 8, 2025. The measure imposes 100% margin on all positions for the affected securities.
Key Points
- Three securities moved to Long-Term ASM Framework Stage-I
- 100% margin requirement applicable from September 8, 2025
- Apollo Micro Systems Limited moved from ST-ASM to LT-ASM framework
- No securities moved to Stage-IV (Trade-for-Trade segment)
- ASM framework operates alongside other surveillance measures
Regulatory Changes
- Margin rate increased to 100% for specified securities
- Enhanced surveillance monitoring for listed companies
- Framework applied based on market surveillance criteria
Compliance Requirements
- Market participants must maintain 100% margin on all open positions as of September 5, 2025
- 100% margin required on new positions created from September 8, 2025 onwards
- Members must comply with enhanced surveillance provisions
Important Dates
- September 4, 2025: Securities inclusion in Long-Term ASM effective date
- September 5, 2025: Reference date for existing open positions
- September 8, 2025: 100% margin requirement implementation date
Impact Assessment
The measure affects trading in three specific securities by significantly increasing margin requirements, which may reduce speculative activity and trading volumes. Apollo Micro Systems, Cupid Limited, and Pritish Nandy Communications will see increased trading costs for market participants. The surveillance action is precautionary and not indicative of adverse company performance.
Impact Justification
Affects three specific securities with increased margin requirements but limited market-wide impact