Description
NSE Clearing Limited revises Market Wide Position Limit (MWPL) and participant/client limits for CUPID in the Securities Lending and Borrowing Scheme, effective March 10, 2026.
Summary
NSE Clearing Limited has revised the Market Wide Position Limit (MWPL) and the associated Participant, Institutional Client, and Non-Institutional Client limits for the symbol CUPID under the Securities Lending and Borrowing Scheme (SLBS). The revision is effective from March 10, 2026 and represents an approximately five-fold increase across all limit categories.
Key Points
- Circular reference: NCL/CMPT/73207 (Circular Ref. No: 029/2026), issued March 09, 2026
- Limits revised in partial modification of circular NCL/CMPT/73070 dated February 27, 2026
- All limits for CUPID in SLBS are increased approximately 5x effective March 10, 2026
- Applicable to all Participants and Custodians in the SLBS segment
Regulatory Changes
Old Limits (CUPID)
| Limit Type | Shares |
|---|---|
| Market Wide Position Limit (MWPL) | 14,617,170 |
| Institutional Client Limit | 1,461,717 |
| Participant Limit | 1,461,717 |
| Non-Institutional Client Limit | 146,171 |
New Limits (CUPID)
| Limit Type | Shares |
|---|---|
| Market Wide Position Limit (MWPL) | 73,085,854 |
| Institutional Client Limit | 7,308,585 |
| Participant Limit | 7,308,585 |
| Non-Institutional Client Limit | 730,858 |
Compliance Requirements
- All Participants and Custodians must take note of the revised limits for CUPID in SLBS
- Positions must be managed within the new limits effective from March 10, 2026
- References: Original circular NCL/CMPT/67763 (April 30, 2025) and partial modification NCL/CMPT/73070 (February 27, 2026)
Important Dates
- March 09, 2026: Circular issued
- March 10, 2026: Revised limits effective
Impact Assessment
The revision significantly increases allowable exposure for CUPID in the SLBS market, with the MWPL rising from ~14.6 million to ~73.1 million shares (approximately 5x). This expansion in limits may reflect increased free float or corporate action activity for CUPID, allowing greater lending and borrowing activity in the stock. The impact is confined to SLBS participants and custodians dealing in CUPID.
Impact Justification
Routine revision of position limits for a single stock in the SLBS segment; significant increase in limits (~5x) but confined to CUPID participants and custodians only.