Description
NSE Clearing Limited revises Market Wide Position Limit (MWPL) and participant/client limits for ECLERX in the Securities Lending and Borrowing Scheme, effective March 16, 2026, doubling the previous limits.
Summary
NSE Clearing Limited (NCL) has revised the Market Wide Position Limit (MWPL) and associated Participant, Institutional Client, and Non-Institutional Client limits for the symbol ECLERX under the Securities Lending and Borrowing Scheme (SLBS). The revised limits are effective from March 16, 2026, and represent approximately a doubling of the previous limits. This circular partially modifies the earlier circular NCL/CMPT/73070 dated February 27, 2026.
Key Points
- Circular Reference: NCL/CMPT/73262 (Circular Ref. No: 030/2026)
- Issued by NSE Clearing Limited, Department: Securities Lending & Borrowing Scheme
- MWPL for ECLERX revised from 2,052,442 shares to 4,104,884 shares (doubled)
- Institutional Client Limit revised from 205,244 shares to 410,488 shares (doubled)
- Participant Limit revised from 205,244 shares to 410,488 shares (doubled)
- Non-Institutional Client Limit revised from 20,524 shares to 41,048 shares (doubled)
- Revision is a partial modification of circular NCL/CMPT/73070 dated February 27, 2026
- All limits are approximately doubled compared to previous values
Regulatory Changes
The following position limits under SLBS for ECLERX are revised with effect from March 16, 2026:
| Limit Type | Old Limit (Shares) | New Limit (Shares) |
|---|---|---|
| Market Wide Position Limit (MWPL) | 2,052,442 | 4,104,884 |
| Institutional Client Limit | 205,244 | 410,488 |
| Participant Limit | 205,244 | 410,488 |
| Non-Institutional Client Limit | 20,524 | 41,048 |
This revision supersedes the corresponding limits set in circular NCL/CMPT/73070 dated February 27, 2026, which itself referenced the base circular NCL/CMPT/67763 dated April 30, 2025.
Compliance Requirements
- All Participants and Custodians must take note of the revised MWPL and position limits for ECLERX in the SLBS.
- Systems and risk management controls should be updated to reflect the new limits effective March 16, 2026.
- Participants must ensure their own positions and client positions do not breach the newly revised limits from the effective date.
Important Dates
- Circular Date: March 13, 2026
- Effective Date: March 16, 2026 (revised limits apply from this date)
- Reference Circular: NCL/CMPT/73070 dated February 27, 2026 (partially modified)
- Base Circular: NCL/CMPT/67763 dated April 30, 2025
Impact Assessment
The doubling of MWPL and all associated limits for ECLERX in the SLBS increases the overall capacity for securities lending and borrowing activity in this scrip. Participants and clients who may have been constrained by the previous limits will have greater flexibility to lend or borrow ECLERX shares. The revision applies specifically to the March 2026 period and is likely driven by changes in the free-float or outstanding shares of ECLERX. The impact is moderate and limited to participants and custodians active in the SLBS segment for this scrip.
Impact Justification
Limit revision affects participants and clients trading ECLERX under SLBS; doubling of MWPL and related limits has moderate operational impact on securities lending activity for this specific scrip.