Here is a circular issued by the NSE to this effect.
High time and most welcome.
Could be a result of the discussions here, more power to traderji.
NATIONAL STOCK EXCHANGE OF INDIA LIMITED
FUTURES AND OPTIONS SEGMENT
CIRCULAR
Circular No.: NSE/F&O/010/2007 Date: February 6, 2007
Download No. NSE/FAOP/8483
Dear Members,
Subject: Revision of Market Lot of Derivative Contracts
Exchange reviews on a periodic basis the contract size/value of derivative contracts based on prescribed minimum value of INR 200,000 as per SEBI circular no. SEBI/DNPD/CIR- 20/2004/02/ 23 dated February 23, 2004. It is proposed to carry out revision of market lots for derivatives contract as given below:
Sr No
Underlying whose Derivative contract size /value is
Revising methodology
Effective date
Annexure Number for list of underlying
1
Higher than INR 800,000
Dividing existing lot by 4
February 23, 2007
(for all contracts)
1
2
Higher than INR 400,000
Dividing existing lot by 2
February 23, 2007
(for all contracts)
2
3
Higher than INR 800,000 but lot size not exactly divisible by 4
Dividing existing lot by 4 & rounding off to nearest integer.
February 23, 2007
(for May 2007 & later expiries)
3
4
Higher than INR 400,000 but lot size not exactly divisible by 2
Dividing existing lot by 2 & rounding off to nearest integer.
February 23, 2007
(for May 2007 & later expiries)
4
5
Lower than INR 200,000
Multiplying existing lot by 2
February 23, 2007
(for May 2007 & later expiries)
5
To avoid operational complexities, in cases 3, 4 & 5 above, only the far month contract i.e. May 2007 expiry contracts will be revised for market lots. Contracts with maturity of March 2007 and April 2007 would continue to have the existing market lots. All subsequent contracts (i.e., May 2007 expiry and beyond) will have revised market lots.
For any clarifications, members are advised to contact the following officials:
Mr. Arvind Goyal, Mr. Sachin Dhar & Ms. Shalini Rebeiro at 26598151 or 26598152
Yours faithfully,
For National Stock Exchange of India Ltd.
T S Jagadharini
Vice President
Annexure-1
List of underlying in which market lot is being revised downwards:
Sr No
Underlying
Symbol
Present Market Lot
Revised market Lot
1
IFCI Ltd
IFCI
31500
7875
Annexure-2
List of underlying in which market lot is being revised downwards:
Sr No
Underlying
Symbol
Present Market Lot
Revised market Lot
1
NSE 50 Index
NIFTY
100
50
2
BANK Nifty Index
BANKNIFTY
100
50
3
Allahabad Bank
ALBK
4900
2450
4
Alok Industries Ltd
ALOKTEXT
6700
3350
5
Andhra Bank Ltd
ANDHRABANK
4600
2300
6
Ashok Leyland Ltd
ASHOKLEY
9550
4775
7
Bank Of India
BANKINDIA
3800
1900
8
Bharti Airtel Limited
BHARTIARTL
1000
500
9
Century Textiles Ltd
CENTURYTEX
850
425
10
CESC Ltd
CESC
1100
550
11
Cummins India Ltd
CUMMINSIND
1900
950
12
Escorts India Ltd
ESCORTS
4800
2400
13
Gail ( India ) Ltd
GAIL
1500
750
14
HCL Technologies Ltd
HCLTECH
650
325
15
HDFC Ltd
HDFC
300
150
16
HDFC Bank Ltd
HDFCBANK
400
200
17
ICICI Bank Ltd.
ICICIBANK
700
350
18
Indus Dev Bank Of Ind Ltd
IDBI
4800
2400
19
Infra. Dev. Fin. Co. Ltd
IDFC
5900
2950
20
I-Flex Solutions Limited
I-FLEX
300
150
21
Indusind Bank Limited
INDUSINDBK
7700
3850
22
Infosys Technologies Ltd
INFOSYSTCH
200
100
23
IVRCL Infrast & Proj Ltd.
IVRCLINFRA
1000
500
24
J & K Bank Ltd.
J&KBANK
600
300
25
Jindal Steel & Power Ltd
JINDALSTEL
250
125
26
Jaiprakash Hydropow Ltd.
JPHYDRO
12500
6250
27
Jindal Stainless Ltd
JSTAINLESS
4000
2000
28
Karnataka Bank Limited
KTKBANK
2500
1250
29
Maharashtra Seamless Ltd
MAHSEAMLES
1200
600
30
Mphasis Limited
MPHASIS
1600
800
31
Nagarjuna Fertilizers Ltd
NAGARFERT
28000
14000
32
NDTV Ltd
NDTV
2200
1100
33
Nicolas Piramal India Ltd
NICOLASPIR
2090
1045
34
NTPC Ltd
NTPC
3250
1625
35
Oil And Natural Gas Corp.
ONGC
450
225
36
Punjab National Bank
PNB
1200
600
37
Polaris Software Lab Ltd
POLARIS
2800
1400
38
Reliance Industries Ltd
RELIANCE
300
150
39
State Bank Of India
SBIN
500
250
40
Sun Pharmaceuticals Ind.
SUNPHARMA
450
225
41
Sun TV Limited
SUNTV
250
125
42
Syndicate Bank
SYNDIBANK
7600
3800
43
Tata Power Co Ltd
TATAPOWER
800
400
44
Union Bank Of India
UNIONBANK
4200
2100
45
UTI Bank Ltd
UTIBANK
900
450
Annexure-3
List of underlying in which market lot is being revised downward and rounded off to nearest integer:
Sr No
Underlying
Symbol
Present Market Lot
Revised market Lot
1
Divis Lab Ltd
DIVISLAB
250
62
Annexure-4
List of underlying in which market lot is being revised downward and rounded off to nearest integer:
Sr No
Underlying
Symbol
Present Market Lot
Revised market Lot
1
Grasim Industries Ltd
GRASIM
175
88
2
Mahindra & Mahindra Ltd
M&M
625
312
3
Siemens Ltd
SIEMENS
375
188
4
Sterlite Inds (Ind ) Ltd
STER
875
438
5
Titan Industries Ltd
TITAN
411
206
Annexure-5
List of underlying in which market lot is being revised upwards:
Sr No
Underlying
Symbol
Present Market Lot
Revised market Lot
1
Bajaj Hindustan Ltd
BAJAJHIND
950
1900
2
Balrampur Chini Mills Ltd
BALRAMCHIN
2400
4800
3
Cairn India Limited
CAIRN
1250
2500
4
Chennai Petroleum Corp Lt
CHENNPETRO
900
1800
5
Colgate Palmolive (I) Ltd
COLGATE
525
1050
6
Gateway Distriparks Ltd.
GDL
1000
2000
7
The GeShpg.Ltd
GESHIP
600
1200
8
ITC Ltd
ITC
1125
2250
9
Shree Renuka Sugars Ltd
RENUKA
500
1000
10
Tata Tea Ltd
TATATEA
275
550
11
Triveni Engg. & Inds. Ltd
TRIVENI
3850
7700
12
Voltas Ltd
VOLTAS
1800
3600
High time and most welcome.
Could be a result of the discussions here, more power to traderji.
NATIONAL STOCK EXCHANGE OF INDIA LIMITED
FUTURES AND OPTIONS SEGMENT
CIRCULAR
Circular No.: NSE/F&O/010/2007 Date: February 6, 2007
Download No. NSE/FAOP/8483
Dear Members,
Subject: Revision of Market Lot of Derivative Contracts
Exchange reviews on a periodic basis the contract size/value of derivative contracts based on prescribed minimum value of INR 200,000 as per SEBI circular no. SEBI/DNPD/CIR- 20/2004/02/ 23 dated February 23, 2004. It is proposed to carry out revision of market lots for derivatives contract as given below:
Sr No
Underlying whose Derivative contract size /value is
Revising methodology
Effective date
Annexure Number for list of underlying
1
Higher than INR 800,000
Dividing existing lot by 4
February 23, 2007
(for all contracts)
1
2
Higher than INR 400,000
Dividing existing lot by 2
February 23, 2007
(for all contracts)
2
3
Higher than INR 800,000 but lot size not exactly divisible by 4
Dividing existing lot by 4 & rounding off to nearest integer.
February 23, 2007
(for May 2007 & later expiries)
3
4
Higher than INR 400,000 but lot size not exactly divisible by 2
Dividing existing lot by 2 & rounding off to nearest integer.
February 23, 2007
(for May 2007 & later expiries)
4
5
Lower than INR 200,000
Multiplying existing lot by 2
February 23, 2007
(for May 2007 & later expiries)
5
To avoid operational complexities, in cases 3, 4 & 5 above, only the far month contract i.e. May 2007 expiry contracts will be revised for market lots. Contracts with maturity of March 2007 and April 2007 would continue to have the existing market lots. All subsequent contracts (i.e., May 2007 expiry and beyond) will have revised market lots.
For any clarifications, members are advised to contact the following officials:
Mr. Arvind Goyal, Mr. Sachin Dhar & Ms. Shalini Rebeiro at 26598151 or 26598152
Yours faithfully,
For National Stock Exchange of India Ltd.
T S Jagadharini
Vice President
Annexure-1
List of underlying in which market lot is being revised downwards:
Sr No
Underlying
Symbol
Present Market Lot
Revised market Lot
1
IFCI Ltd
IFCI
31500
7875
Annexure-2
List of underlying in which market lot is being revised downwards:
Sr No
Underlying
Symbol
Present Market Lot
Revised market Lot
1
NSE 50 Index
NIFTY
100
50
2
BANK Nifty Index
BANKNIFTY
100
50
3
Allahabad Bank
ALBK
4900
2450
4
Alok Industries Ltd
ALOKTEXT
6700
3350
5
Andhra Bank Ltd
ANDHRABANK
4600
2300
6
Ashok Leyland Ltd
ASHOKLEY
9550
4775
7
Bank Of India
BANKINDIA
3800
1900
8
Bharti Airtel Limited
BHARTIARTL
1000
500
9
Century Textiles Ltd
CENTURYTEX
850
425
10
CESC Ltd
CESC
1100
550
11
Cummins India Ltd
CUMMINSIND
1900
950
12
Escorts India Ltd
ESCORTS
4800
2400
13
Gail ( India ) Ltd
GAIL
1500
750
14
HCL Technologies Ltd
HCLTECH
650
325
15
HDFC Ltd
HDFC
300
150
16
HDFC Bank Ltd
HDFCBANK
400
200
17
ICICI Bank Ltd.
ICICIBANK
700
350
18
Indus Dev Bank Of Ind Ltd
IDBI
4800
2400
19
Infra. Dev. Fin. Co. Ltd
IDFC
5900
2950
20
I-Flex Solutions Limited
I-FLEX
300
150
21
Indusind Bank Limited
INDUSINDBK
7700
3850
22
Infosys Technologies Ltd
INFOSYSTCH
200
100
23
IVRCL Infrast & Proj Ltd.
IVRCLINFRA
1000
500
24
J & K Bank Ltd.
J&KBANK
600
300
25
Jindal Steel & Power Ltd
JINDALSTEL
250
125
26
Jaiprakash Hydropow Ltd.
JPHYDRO
12500
6250
27
Jindal Stainless Ltd
JSTAINLESS
4000
2000
28
Karnataka Bank Limited
KTKBANK
2500
1250
29
Maharashtra Seamless Ltd
MAHSEAMLES
1200
600
30
Mphasis Limited
MPHASIS
1600
800
31
Nagarjuna Fertilizers Ltd
NAGARFERT
28000
14000
32
NDTV Ltd
NDTV
2200
1100
33
Nicolas Piramal India Ltd
NICOLASPIR
2090
1045
34
NTPC Ltd
NTPC
3250
1625
35
Oil And Natural Gas Corp.
ONGC
450
225
36
Punjab National Bank
PNB
1200
600
37
Polaris Software Lab Ltd
POLARIS
2800
1400
38
Reliance Industries Ltd
RELIANCE
300
150
39
State Bank Of India
SBIN
500
250
40
Sun Pharmaceuticals Ind.
SUNPHARMA
450
225
41
Sun TV Limited
SUNTV
250
125
42
Syndicate Bank
SYNDIBANK
7600
3800
43
Tata Power Co Ltd
TATAPOWER
800
400
44
Union Bank Of India
UNIONBANK
4200
2100
45
UTI Bank Ltd
UTIBANK
900
450
Annexure-3
List of underlying in which market lot is being revised downward and rounded off to nearest integer:
Sr No
Underlying
Symbol
Present Market Lot
Revised market Lot
1
Divis Lab Ltd
DIVISLAB
250
62
Annexure-4
List of underlying in which market lot is being revised downward and rounded off to nearest integer:
Sr No
Underlying
Symbol
Present Market Lot
Revised market Lot
1
Grasim Industries Ltd
GRASIM
175
88
2
Mahindra & Mahindra Ltd
M&M
625
312
3
Siemens Ltd
SIEMENS
375
188
4
Sterlite Inds (Ind ) Ltd
STER
875
438
5
Titan Industries Ltd
TITAN
411
206
Annexure-5
List of underlying in which market lot is being revised upwards:
Sr No
Underlying
Symbol
Present Market Lot
Revised market Lot
1
Bajaj Hindustan Ltd
BAJAJHIND
950
1900
2
Balrampur Chini Mills Ltd
BALRAMCHIN
2400
4800
3
Cairn India Limited
CAIRN
1250
2500
4
Chennai Petroleum Corp Lt
CHENNPETRO
900
1800
5
Colgate Palmolive (I) Ltd
COLGATE
525
1050
6
Gateway Distriparks Ltd.
GDL
1000
2000
7
The GeShpg.Ltd
GESHIP
600
1200
8
ITC Ltd
ITC
1125
2250
9
Shree Renuka Sugars Ltd
RENUKA
500
1000
10
Tata Tea Ltd
TATATEA
275
550
11
Triveni Engg. & Inds. Ltd
TRIVENI
3850
7700
12
Voltas Ltd
VOLTAS
1800
3600