Description

NSE extends the Liquidity Enhancement Scheme on Monthly Electricity Futures Contracts for another 6 months until July 13, 2026.

Summary

NSE has extended the Liquidity Enhancement Scheme (LES) for Monthly Electricity Futures Contracts for an additional 6 months. The scheme, which was previously introduced through multiple circulars in June-July 2025, will now remain in effect until July 13, 2026. All existing provisions from the referenced circulars continue to apply without modification.

Key Points

  • LES on Monthly Electricity Futures extended for 6 months
  • New expiry date: July 13, 2026
  • All previous provisions remain unchanged
  • NSE reserves right to amend or discontinue with 15 days advance notice
  • References previous circulars: NSE/COM/68807 (June 27, 2025), NSE/COM/68867 (July 01, 2025), NSE/COM/68885 (July 02, 2025), NSE/COM/68968 and NSE/COM/68969 (July 04, 2025), NSE/COM/69072 (July 10, 2025)

Regulatory Changes

No new regulatory changes introduced. This circular only extends the duration of the existing Liquidity Enhancement Scheme without modifying its terms or conditions.

Compliance Requirements

No new compliance requirements. Members participating in the LES for Monthly Electricity Futures should continue following the provisions outlined in the previously referenced circulars.

Important Dates

  • Circular Date: December 26, 2025
  • Scheme Extension Until: July 13, 2026
  • Minimum Amendment Notice Period: 15 days (if NSE decides to modify or discontinue)

Impact Assessment

This extension has minimal market impact as it maintains status quo for existing LES participants in electricity futures. The scheme continuation provides certainty for market makers and liquidity providers in the commodity derivatives segment. Members trading monthly electricity futures can continue utilizing the scheme benefits for another 6 months. For queries, members can contact NSE Commodities team at nsecommodities@nse.co.in.

Impact Justification

Routine extension of existing liquidity enhancement scheme for electricity futures; affects only commodity derivatives segment participants; no new requirements or structural changes