NSE circular announcing updates to the Enhanced Surveillance Measure (ESM) framework, including securities moving to Stage II and the consolidated list of securities under ESM effective March 17-18, 2026.
Impact
High
Severity
High
Justification
Directly affects trading conditions for multiple securities by imposing 100% margin requirements and shifting them to Trade-for-Trade settlement, significantly impacting liquidity and trading strategy for affected stocks.
NSE announces inclusion and stage changes under the Enhanced Surveillance Measure (ESM) framework effective March 12-13, 2026, with ABMINTLLTD and S&SPOWER moving to Stage II.
Impact
High
Severity
High
Justification
Directly affects trading conditions for specific securities — mandatory 100% margin, shift to Trade-for-Trade segment, and 2% price band under Periodic Call Auction impose significant restrictions on market participants holding or trading these stocks.
NSE announces inclusion of Aakash Exploration Services Limited under ESM Stage-I effective March 10-11, 2026, with 100% margin requirement and shift to Trade-for-Trade segment.
Impact
High
Severity
High
Justification
Mandatory 100% margin requirement and forced migration from rolling settlement to trade-for-trade segment directly impacts trading of affected securities, restricting liquidity and increasing cost of participation.
NSE includes 4 securities under ESM Stage I and moves 2 securities from Stage I to Stage II effective March 05-06, 2026, with mandatory 100% margin requirements and shift to Trade-for-Trade settlement.
Impact
High
Severity
High
Justification
Directly affects trading conditions for 6 securities with mandatory 100% margin requirements and forced segment shift from rolling to trade-for-trade settlement, significantly impacting liquidity and trading costs.
NSE releases the updated list of 300+ securities subject to the Reversal Trade Cancellation Mechanism (RTCM) for March 2026, a surveillance measure to cancel trades that are reversed within a short timeframe.
Impact
Medium
Severity
Medium
Justification
Affects 300+ securities listed on NSE; RTCM is an active surveillance tool that can result in trade cancellations for reversal patterns, directly impacting traders and brokers dealing in these stocks. High importance due to the large number of securities covered; medium impact as it targets a specific trading behaviour rather than broad market restrictions.
NSE adds Ascom Leasing and Excellent Wires to Enhanced Surveillance Measure Stage I with 100% margin requirement and trade-for-trade settlement effective January 29, 2026.
Impact
High
Severity
High
Justification
Requires immediate action with 100% margin on affected securities and shifts them to trade-for-trade segment, significantly impacting trading liquidity and position management
NSE announces list of 323 securities subject to Reversal Trade Mechanism (RTCM) effective February 2026.
Impact
Medium
Severity
Medium
Justification
RTCM is a surveillance measure affecting 323 securities with enhanced monitoring and potential trading reversals to manage market risk and protect investors from abnormal price movements.
NSE circular listing 324 securities subject to Reversal Trade Cancellation Mechanism (RTCM) for November 2025, a surveillance measure to prevent price manipulation.
Impact
High
Severity
Medium
Justification
RTCM is a critical surveillance mechanism affecting 324 securities, enabling NSE to cancel erroneous or manipulative trades. High impact on trading operations and investor protection, though routine monthly update.