Description
NSE announces adjustments to futures and options contracts for Computer Age Management Services Limited (CAMS) following a 5:1 stock split with face value changing from Rs 10/- to Rs 2/-.
Summary
NSE has issued adjustments to Futures and Options contracts for Computer Age Management Services Limited (CAMS) following a stock split in the ratio of 5:1. The face value changes from Rs 10/- to Rs 2/-, with an adjustment factor of 5 applied to all existing derivative contracts. The changes become effective from December 05, 2025.
Key Points
- Company: Computer Age Management Services Limited (Symbol: CAMS)
- Corporate Action Type: Stock Split
- Split Ratio: 5:1 (one share becomes five shares)
- Old Face Value: Rs 10/-
- New Face Value: Rs 2/-
- Ex-date and Effective Date: December 05, 2025
- Adjustment Factor: 5
- Revised Market Lot: 750 shares (adjusted from 150)
- Revised Quantity Freeze Limit: 30,000 shares
- All existing strike prices will be divided by 5 (e.g., 3100 becomes 620, 3200 becomes 640)
Regulatory Changes
Pursuant to SEBI guidelines for adjustments to futures and options contracts on corporate actions:
- Contract specifications will be updated with revised strike prices and lot sizes
- Strike prices and base prices will appear in decimal places and be rounded to nearest tick size
- Lot sizes will be rounded to nearest integer
- Members must load updated contract.gz/MII contract files (NSE_FO_contract_ddmmyyyy.csv.gz) and spread files (NSE_FO_spdcontract_ddmmyyyy.csv.gz) before trading on ex-date
- Files available from faoftp/faocommon directory on Extranet server
- MII contract and spread files also available on NSE website at https://www.nseindia.com/all-reports-derivatives
- Adjustment details available at https://www.nseindia.com/products-services/equity-derivatives-corporate-actions-adjustments
Compliance Requirements
For Trading Members:
- Download and load updated contract and spread files on trading applications before December 05, 2025
- Update systems to reflect new strike prices, lot sizes, and contract specifications
- Ensure client communication regarding adjusted contract parameters
- Position adjustments methodology to be separately intimated by respective Clearing Corporation
Strike Price Adjustments (Sample from Annexure-1):
- December 2025 expiry: Old strikes 3100-3950 adjusted to 620-790
- January 2026 expiry: Adjustments apply to all existing contracts
- All strike prices divided by adjustment factor of 5
Important Dates
- Circular Issue Date: December 04, 2025
- Ex-Date: December 05, 2025
- Effective Date: December 05, 2025
- Contract Update Deadline: Before market opening on December 05, 2025
Impact Assessment
Market Impact:
- High impact on all CAMS derivative traders and market makers
- Existing open positions in futures and options will be automatically adjusted
- Trading strategies based on old strike prices and lot sizes must be recalibrated
- Margin requirements may change due to revised contract specifications
Operational Impact:
- Trading members must update systems and software before December 05, 2025
- Risk management systems need reconfiguration for new lot sizes and freeze limits
- Market liquidity may temporarily shift as traders adjust to new contract parameters
- Increased market lot (750 vs previous 150) increases minimum transaction value by 5x
Trader Considerations:
- Open positions will be adjusted proportionately (1 old contract = 5 new contracts at 1/5th the strike)
- Premium values per contract will change proportionally
- Strategy adjustments needed for spread trades and hedging positions
- Contact NSE helpline (1800-266-0050, Option 1) or email msm@nse.co.in for queries
Impact Justification
Stock split with 5:1 ratio significantly impacts all existing F&O contracts for CAMS, requiring mandatory adjustments to strike prices, lot sizes, and contract specifications affecting all derivative traders.