Description

NSE moves 8 securities to Trade for Trade segment (series BE/ST) with 5% price band effective October 30, 2025, based on surveillance review for market safety.

Summary

NSE has announced the movement of 8 securities to Trade for Trade (T2T) segment effective October 30, 2025, as part of surveillance measures to ensure market safety and protect investor interests. Seven securities will move from rolling segment (EQ series) to BE series, and one security from SM series to ST series. All affected securities will be subject to a 5% or lower price band with trade-to-trade settlement, with no netting off allowed.

Key Points

  • 8 securities shifted to Trade for Trade segment effective October 30, 2025 (Thursday)
  • 7 securities moving from EQ (rolling) to BE (T2T) series
  • 1 security moving from SM (rolling) to ST (T2T) series
  • All securities subject to 5% or lower price band
  • Settlement on trade-to-trade basis with no netting off allowed
  • Securities will no longer be available in rolling segment (EQ/SM series)
  • Action based on Price Earnings Multiple, Price Variation & Market Capitalization criteria
  • Annexure-2 lists securities continuing in T2T segment

Regulatory Changes

Pursuant to Capital Market Segment Trading Regulations Part - A, 2.6, the following changes are implemented:

Securities Shifted to BE Series (from EQ):

  1. FMNL - Future Market Networks Limited (INE360L01017)
  2. GLFL - Gujarat Lease Financing Limited (INE540A01017)
  3. SELMC - SEL Manufacturing Company Limited (INE105I01020)
  4. LATTEYS - Latteys Industries Limited (INE262Z01023)
  5. NURECA - Nureca Limited (INE0DSF01015)
  6. LEXUS - Lexus Granito (India) Limited (INE500X01013)
  7. TREJHARA - Trejhara Solutions Limited (INE00CA01015)

Securities Shifted to ST Series (from SM):

  1. MOXSH - Moxsh Overseas Educon Limited (INE0N6D01014)

Criteria for all shifts: Price Earnings Multiple, Price Variation & Market Capitalization

Compliance Requirements

  • Members must take adequate precaution while trading in affected securities
  • No netting off will be allowed for these securities
  • Settlement will be executed on trade-to-trade basis only
  • Securities will trade in BE/ST series instead of EQ/SM series
  • Price band of 5% or lower applies to all affected securities
  • Members can refer to criteria for shifting securities at: https://www.nseindia.com/regulations/movement-securities-periodic-review
  • Queries should be directed to surveillance@nse.co.in

Important Dates

  • Circular Date: October 27, 2025
  • Effective Date: October 30, 2025 (Thursday)
  • Circular Reference: 829/2025
  • NSE Reference: NSE/SURV/70976

Impact Assessment

Trading Impact:

  • High impact on liquidity for affected securities as they move to T2T segment
  • No intraday trading or position squaring possible due to trade-to-trade settlement
  • Reduced price volatility due to 5% price band restriction
  • Increased settlement risk and capital requirements for traders

Investor Impact:

  • Compulsory delivery-based settlement for all trades
  • Limited price movement (5% band) may affect trading strategies
  • Enhanced investor protection through surveillance measures
  • Reduced speculative activity in these securities

Market Impact:

  • Signals heightened surveillance concern for these securities
  • Note: Transfer to T2T is purely surveillance-based and not an adverse action against the companies
  • Continued monitoring under fortnightly review process
  • Some securities (Annexure-2) will continue in T2T segment under current review

Impact Justification

Significant trading restriction affecting 8 securities with shift to T2T segment, eliminating netting off and imposing 5% price band, directly impacting liquidity and trading flexibility