Description
NSE extends the Liquidity Enhancement Scheme on Silver (30 kgs) Options on Goods for an additional 3 months until February 26, 2026.
Summary
The National Stock Exchange of India has extended the Liquidity Enhancement Scheme (LES) on Silver (30 kgs) Options on Goods Contract for an additional period of 3 months. The scheme, which was previously scheduled to expire, will now remain in effect until February 26, 2026. All other provisions as stated in previous circulars remain unchanged.
Key Points
- LES on Silver Options extended for 3 months
- New expiry date: February 26, 2026
- All existing provisions continue to apply
- NSE reserves right to amend or discontinue with 15 days advance notice
- References previous circulars from November 2023 through August 2025
Regulatory Changes
No new regulatory changes introduced. This circular only extends the timeline of the existing Liquidity Enhancement Scheme framework for silver options on goods.
Compliance Requirements
No new compliance requirements. Members should continue to follow provisions outlined in the referenced previous circulars:
- NSE/COM/59196 dated November 01, 2023
- NSE/COM/61977 dated May 10, 2024
- NSE/COM/65040 dated November 12, 2024
- NSE/COM/66508 dated February 05, 2025
- NSE/COM/67948 dated May 12, 2025
- NSE/COM/69486 dated August 04, 2025
Important Dates
- Circular Date: November 11, 2025
- Scheme Expiry Date: February 26, 2026
Impact Assessment
The extension has minimal market impact as it maintains continuity of an existing liquidity support mechanism for silver options trading. The scheme is specific to the commodity derivatives segment and affects only market participants trading in Silver (30 kgs) Options on Goods contracts. The extension ensures continued market making and liquidity support in this derivative instrument for the next three months.
Impact Justification
Routine extension of existing liquidity enhancement scheme for silver options. No new provisions or changes to existing framework, only timeline extension. Limited impact as it affects only a specific commodity derivatives segment.