Description
NSE Clearing Limited revises the list of Exchange Traded Funds (ETFs) eligible for cross margining in the Capital Market Segment, effective April 1, 2026, with updated minimum quantity requirements.
Summary
NSE Clearing Limited (NCL) has issued a revised list of Exchange Traded Funds (ETFs) eligible for cross margining in the Capital Market Segment. This circular (Ref No: NCL/CMPT/73515, Circular Ref No: 0120/2026) supersedes the earlier circular 0081/2026 dated February 23, 2026, and specifies updated minimum quantity requirements for each eligible ETF.
Key Points
- The revised cross margin eligible ETF list takes effect from April 1, 2026
- 26 ETFs are included in the revised eligible list spanning Nifty, Bank, IT, PSU, Pharma, Infrastructure, Midcap, and Next 50 indices
- Each ETF has a specified minimum quantity (and multiples thereof) required to avail cross margin benefit
- This update supersedes circular 0081/2026 (NCL/CMPT/72952) dated February 23, 2026
Regulatory Changes
The revised eligible ETF list replaces the previous list issued on February 23, 2026. Minimum quantity requirements have been updated for multiple ETFs. Key quantities:
| Symbol | Scheme Name | Min Quantity |
|---|---|---|
| NIFTYBEES | Nippon India ETF Nifty BeES | 6,500 |
| ITBEES | Nippon India ETF IT | 10,000 |
| BANKBEES | Nippon India ETF Bank BeES | 3,000 |
| PSUBNKBEES | Nippon India ETF PSU Bank BeES | 5,000 |
| JUNIORBEES | Nippon India ETF Junior BeES | 2,500 |
| SETFNIF50 | SBI-ETF Nifty 50 | 6,500 |
| NIFTYIETF | ICICI Prudential Nifty ETF | 6,500 |
| MID150BEES | Nippon India ETF Midcap 150 | 2,500 |
| CPSEETF | CPSE ETF | 7,500 |
| PHARMABEES | Nippon India ETF Pharma | 25,000 |
| NIFTYETF | Mirae Asset Nifty 50 ETF | 6,500 |
| AUTOBEES | Nippon India ETF Auto | 2,500 |
| NIFTY1 | Kotak Nifty ETF | 6,500 |
| MIDCAPETF | Mirae Asset Midcap 150 ETF | 25,000 |
| SETFNIFBK | SBI-ETF Nifty Bank | 3,000 |
| PSUBANK | Kotak PSU Bank ETF | 500 |
| NEXT50IETF | ICICI Prudential Nifty Next 50 ETF | 25,000 |
| HDFCNIFTY | HDFC Nifty ETF | 6,500 |
| BANKBETA | UTI Bank ETF | 30,000 |
| SETFNN50 | SBI-ETF Nifty Next 50 | 2,500 |
| IT | Kotak IT ETF | 10,000 |
| ITETF | Mirae Asset IT ETF | 10,000 |
| NEXT50 | Mirae Asset Nifty Next 50 ETF | 2,500 |
| HDFCNIFBAN | HDFC Nifty Bank ETF | 30,000 |
| NIFTYADD | DSP Nifty 50 ETF | 6,500 |
| INFRABEES | Nippon India ETF Infra BeES | 500 |
Compliance Requirements
- All members of NSE Clearing Limited must note the revised list of cross margin eligible ETFs effective April 1, 2026
- Members must ensure cross margin positions in ETFs meet or exceed the specified minimum quantities (and multiples thereof) to qualify for cross margin benefit
- Positions below the minimum quantity thresholds will not be eligible for cross margining
Important Dates
- Circular Date: March 27, 2026
- Effective Date: April 1, 2026
- Supersedes: Circular 0081/2026 (NCL/CMPT/72952) dated February 23, 2026
Impact Assessment
This circular affects all NSE Clearing members who utilize cross margining across ETF positions in the Capital Market Segment. Members holding ETF positions for cross margin purposes must review the updated minimum quantity requirements and adjust their positions accordingly before April 1, 2026. ETFs with high minimum quantities (e.g., BANKBETA at 30,000 units, HDFCNIFBAN at 30,000 units, PHARMABEES at 25,000 units) may require larger capital commitments to avail cross margin benefits. The inclusion of a broad range of ETFs across sectors (banking, IT, pharma, infrastructure, PSU) provides members with diverse instruments for cross margin optimization.
Impact Justification
Routine operational update revising the list of ETFs eligible for cross margining and their minimum quantity thresholds. Affects margin calculations for members trading these ETFs but does not introduce new regulatory requirements.