Description
NSE Clearing Limited announces early expiry of all monthly F&O contracts in Vedanta Limited (VEDL) on April 29, 2026, with physical settlement to be netted with Capital Market obligations.
Summary
NSE Clearing Limited (NCL) has announced the adjustment of all Futures & Options contracts on Vedanta Limited (VEDL). All existing monthly contracts with expiry dates post April 29, 2026 will be compulsorily expired on April 29, 2026, followed by physical settlement netted with Capital Market obligations on April 30, 2026.
Key Points
- All monthly VEDL F&O contracts with expiry beyond April 29, 2026 will expire on April 29, 2026
- Final settlement price will be VEDL’s Capital Market segment settlement price on April 29, 2026
- Pay-in/pay-out of final MTM settlement for Futures on VEDL will occur on April 30, 2026 (T+1)
- All VEDL F&O positions will cease to exist after final settlement on April 29, 2026
- Physical obligations from F&O will be netted with Capital Market obligations for trade date April 29, 2026
- Net VEDL obligations will settle under Normal market type in settlement number 2026079
- Delivery shortages will be directly closed out
- Position reports for VEDL will be available on April 29, 2026
- Additional physical settlement reports and F_CA_PS03/F_CA_PS04 reports (excluding VEDL contracts) will be downloaded on April 29, 2026
Regulatory Changes
This action is taken in pursuance of:
- NCL Byelaws pertaining to Clearing and Settlement
- SEBI circular SMDRP/DC/CIR-8/01 dated June 21, 2001
- Consolidated Circular No. 043/2025 (NCL/CMPT/67750) dated April 29, 2025
- Circular No. 49/2026 (NSE/FAOP/73857) dated April 22, 2026
- Circular No. 67/2018 (NCCL/CMPT/38039) dated June 15, 2018
- Circular No. 008/2023 (NCL/CMPT/55330) dated January 20, 2023
Compliance Requirements
- Members must be aware that all open VEDL F&O positions will be compulsorily settled on April 29, 2026
- Members must ensure sufficient securities/funds for physical delivery obligations
- Physical delivery obligations from F&O will be automatically netted with Capital Market obligations — members should account for combined net positions
- Members should monitor F_CA_PS03 and F_CA_PS04 reports downloaded on April 29, 2026 for position details excluding VEDL contracts
Important Dates
- April 29, 2026: Forced expiry of all VEDL monthly F&O contracts; final settlement price determined; position reports available to members
- April 30, 2026: Pay-in/pay-out of final MTM settlement for VEDL Futures; physical settlement of netted obligations in Capital Market segment under settlement number 2026079
Impact Assessment
This circular has high impact on traders and members holding positions in VEDL derivatives. The forced early expiry eliminates the ability to roll over positions to later monthly contracts, compelling all participants to close out or accept physical delivery. The netting of F&O physical obligations with Capital Market trades on April 29, 2026 means members must carefully manage their combined exposure across both segments. Any delivery shortfall will be directly closed out, potentially at unfavorable prices. This action is likely triggered by a corporate event (such as a delisting, merger, or scheme of arrangement) in Vedanta Limited, as referenced by Circular No. 49/2026 dated April 22, 2026.
Impact Justification
Forced early expiry of all VEDL monthly F&O contracts post April 29, 2026 directly affects all traders holding positions in VEDL derivatives, with mandatory physical settlement impacting both F&O and Capital Market segments.