Description

NSE Clearing revises market-wide position limits and client limits for HDFCAMC in the Securities Lending and Borrowing Scheme, doubling all limits effective November 27, 2025.

Summary

NSE Clearing Limited has revised the Market Wide Position Limit (MWPL) and position limits for Participants, Institutional clients, and Non-Institutional clients for HDFCAMC under the Securities Lending and Borrowing Scheme. All limits are being doubled effective November 27, 2025. This revision follows earlier circulars NCL/CMPT/67763 dated April 30, 2025, and partial modification of NCL/CMPT/71091 dated October 31, 2025.

Key Points

  • Market Wide Position Limit increased from 10,182,392 shares to 20,364,784 shares (100% increase)
  • Institutional client limit raised from 1,018,239 shares to 2,036,478 shares (100% increase)
  • Participant limit increased from 1,018,239 shares to 2,036,478 shares (100% increase)
  • Non-Institutional client limit raised from 101,823 shares to 203,647 shares (100% increase)
  • Changes applicable only to HDFCAMC symbol in SLBS
  • Circular issued by Department of Securities Lending & Borrowing Scheme

Regulatory Changes

The revised limits represent a systematic doubling of all position limits for HDFCAMC in the Securities Lending and Borrowing Scheme:

Previous Limits (until November 26, 2025):

  • Market Wide Position Limit: 10,182,392 shares
  • Institutional Client Limit: 1,018,239 shares
  • Participant Limit: 1,018,239 shares
  • Non-Institutional Client Limit: 101,823 shares

New Limits (effective November 27, 2025):

  • Market Wide Position Limit: 20,364,784 shares
  • Institutional Client Limit: 2,036,478 shares
  • Participant Limit: 2,036,478 shares
  • Non-Institutional Client Limit: 203,647 shares

Compliance Requirements

  • All Participants and Custodians must take note of the revised limits
  • Position limits must be monitored and adhered to from the effective date
  • Participants should update their risk management systems to reflect new limits
  • Both institutional and non-institutional clients should be informed of enhanced limits
  • For queries, participants can contact NSE Clearing support at 18002660050 (IVR Option 2) or email support@nsccl.co.in

Important Dates

  • Circular Date: November 26, 2025
  • Effective Date: November 27, 2025
  • Applicable Period: November 2025 onwards

Impact Assessment

Market Impact: The doubling of position limits for HDFCAMC in the Securities Lending and Borrowing Scheme significantly increases the capacity for lending and borrowing transactions. This expansion provides greater flexibility for market participants and may improve liquidity in the SLBS market for this security.

Operational Impact:

  • Participants can now take larger positions in HDFCAMC through SLBS
  • Institutional clients benefit from doubled lending/borrowing capacity
  • Enhanced limits may attract more participation in SLBS for this security
  • Risk management systems need to be updated to accommodate new limits

Client Impact: Both institutional and non-institutional clients gain increased access to securities lending and borrowing opportunities for HDFCAMC, potentially supporting hedging, arbitrage, and trading strategies.

Impact Justification

Significant doubling of position limits for HDFCAMC in SLBS affects participants and institutional/non-institutional clients, enabling higher lending/borrowing volumes