We would like to inform you that, as per the NSE Circular NSE/FAOP/64625 dated 18th October 2024, and the BSE Notice No. 20241021-13 dated 21st October 2024, the contract sizes for various index derivatives have been revised.

These changes took effect from 20th November 2024 for the quarterly and half-yearly contracts of NSE's Nifty and Bank Nifty, as well as BSE's Sensex. Long-dated contracts with expiries in March 2025 and beyond will retain their current lot sizes until the following dates:

1. Bank Nifty: Revised lot size will apply from 24th December 2024 (Tuesday), end of the day (EOD).
   • Any open positions not in a multiple of 30 must be squared off by 3:00 PM on 24th December 2024.
2. Nifty: Revised lot size will apply from 26th December 2024 (Thursday), EOD.
   • Any open positions not in a multiple of 75 must be squared off by 3:00 PM on 26th December 2024.
3. BSE Sensex: Revised lot size will apply from 27th December 2024 (Friday), EOD.
   • Any open positions not in a multiple of 20 must be squared off by 3:00 PM on 27th December 2024.

Key Details:

• Bank Nifty: Revised lot size applies from 24th December 2024 (Tuesday), EOD. Any open position not in a multiple of 30 must be squared off by 3:00 PM on 24th December 2024.
• Nifty: Revised lot size applies from 26th December 2024 (Thursday), EOD. Any open position not in a multiple of 75 must be squared off by 3:00 PM on 26th December 2024.
• BSE Sensex: Revised lot size applies from 27th December 2024 (Friday), EOD. Any open position not in a multiple of 20 must be squared off by 3:00 PM on 27th December 2024.

Important Actions:

• On the specified dates, any unadjusted positions will be squared off by Navia on a best-effort basis by 3:00 PM.
• No new positions can be initiated after 2:00 PM on the specified dates.
• Any open positions not adjusted to the new lot size will remain frozen until the expiry of the specific contract.

Example:

If you hold 3 lots of Bank Nifty 51200 CE (45 qty) with an expiry of 27th March 2025, the adjustment will occur as follows:

• On 24th December 2024, EOD, 2 lots will be adjusted to the new lot size (30 qty), and 1 lot (15 qty) should be squared off by 3:00 PM  

Action Required:

It is client’s responsibility to adjust positions to the new lot size before the specified cutoff time and date. Navia will square off positions on a best-effort basis and will not be liable for any losses, charges, or consequences arising from the square-off or non-square-off of positions as per the Risk Management Policy.

For any clarifications, please feel free to contact us at 7010075500 or email us at [email protected].