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 updates Enhanced Surveillance Measure (ESM) framework effective March 04-05, 2026, with UNIVPHOTO moving from Stage I to Stage II and no new inclusions or exclusions.
Impact
High
Severity
High
Justification
ESM changes impose 100% margin requirements and shift securities to Trade-for-Trade settlement, significantly restricting trading in affected stocks. UNIVPHOTO is escalated to Stage II with a 2% price band under Periodic Call Auction, directly impacting liquidity and trading conditions.
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 announces changes to Enhanced Surveillance Measure framework with three securities moving from Stage II to Stage I effective February 1, 2026, and one security excluded from ESM framework.
Impact
Medium
Severity
Medium
Justification
Affects trading parameters for specific securities with margin and settlement changes, but limited number of securities involved
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 updates the list of securities under Enhanced Surveillance Measure (ESM) framework with movements between stages and exclusions effective January 12, 2026.
Impact
Medium
Severity
Medium
Justification
Regular surveillance framework update affecting multiple securities with stage movements and segment changes. Important for investors in listed securities but part of routine surveillance operations.
NSE updates the list of securities under Enhanced Surveillance Measure framework with new inclusions, exclusions, and stage movements effective December 29-30, 2025.
Impact
High
Severity
High
Justification
High impact due to mandatory 100% margin requirements, shift to Trade-for-Trade segment, and 2% price band restrictions for affected securities under periodic call auction
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.
NSE updates Enhanced Surveillance Measure classifications, moving securities between stages and imposing 100% margin requirements effective October 7, 2025.
Impact
High
Severity
High
Justification
Affects trading mechanism and margin requirements for multiple securities with immediate effect, shifting from rolling settlement to trade-for-trade and imposing 100% margin requirements