Description

NSE implements Additional Surveillance Measure on select securities with 100% margin requirements and trade-for-trade segment shifts effective September 12, 2025.

Summary

NSE has announced the inclusion of securities under Long Term Additional Surveillance Measure (ASM) effective September 10-12, 2025. Three securities will enter Stage-I ASM with 100% margin requirements, while one security will move from Stage-I to Stage-II. The measures are implemented as part of market surveillance framework to monitor securities that meet specific risk criteria.

Key Points

  • 100% margin requirement applicable on all open and new positions from September 12, 2025
  • Three new securities added to Long-Term ASM Stage-I framework
  • One security progressing from Stage-I to Stage-II
  • Securities qualifying under Criteria VII would shift from Rolling Settlement (EQ) to Trade-for-Trade (BE) segment
  • ASM framework operates in conjunction with other existing surveillance measures

Regulatory Changes

  • Margin rate increased to 100% for specified securities
  • Potential segment migration from EQ to BE series for Stage-IV securities (none currently affected)
  • Enhanced surveillance monitoring for listed securities

Compliance Requirements

  • Market participants must maintain 100% margin for affected securities
  • Compliance with trade-for-trade settlement requirements where applicable
  • Adherence to all prevailing surveillance measures in conjunction with ASM

Important Dates

  • September 10, 2025: ASM framework stages become effective
  • September 11, 2025: Last day before margin increase on existing positions
  • September 12, 2025: 100% margin requirement effective on all positions

Impact Assessment

Affected Securities:

  • Stage-I New Entries: A B Infrabuild Limited (ABINFRA), Jalan Transolutions (India) Limited (JALAN), Nakoda Group of Industries Limited (NGIL)
  • Stage Movement: Laxmi Goldorna House Limited (LGHL) moving from Stage-I to Stage-II

The 100% margin requirement will significantly reduce leverage availability and may impact trading volumes and liquidity in these securities. The measure is surveillance-driven and should not be construed as adverse action against the companies.

Impact Justification

100% margin requirement and potential segment shifts significantly impact trading and liquidity for affected securities