Announcements

ITC Limited has declared to the Exchange the issuance and allotment of 1 equity share of ITC Hotels for every 10 equity shares of ITC Limited held by existing shareholders. The record date to determine which shareholders will be eligible for this is 6 January 2025.

Due to this corporate action, keep in mind the following impact on your F&O contracts

1. All existing contracts in the underlying ITC with expiry dates of 30 January, 27 February, and 27 March shall expire on 3 January 2025 and shall be physically settled as per the Exchange rules

2. The methodology of settlement shall be separately intimated by respective Clearing
Corporations.

3. To take physical delivery of shares for your ITC position (or to cover a short position), you need to maintain the contract's full value by the end of 2 January 2025.

4. No fresh position will be allowed under the F&O segment in ITC from 2 January 2025

5. ITC positions with insufficient fund value or stock (in case of a short position) will be squared off anytime after 10 AM on 3 January 2025 on a best-effort basis

6. Collateral Margins (Margin Pledge) on ITC will be subject to a 50% haircut value from 3 January 2025, onwards

7. All MTF positions in ITC will be either squared off or converted to delivery, based on the availability of funds post 10 AM on 3 January 2025 on a best effort basis

8. Derivatives contracts on ITC shall be introduced again (with an expiry of 30 January 2025, 27 February 2025 and 27 March 2025) from 6 January 2025 onwards

You can also refer to the circular here.

As per a recent Exchange circular, the expiry days for F&O index contracts have been revised. Starting January 2025:
- NSE index F&O contracts will expire on the last Thursday of each month.
- BSE index F&O contracts will expire on the last Tuesday of each month.

Here’s a detailed table for your reference:

Keep in mind
- There is no change in expiry day for NIFTY monthly, weekly, quarterly & half yearly F&O contracts. They will continue to expire on Thursdays.
- There will be no change in the existing SENSEX weekly F&O contracts expiring on 3 January 2025.
- New F&O BSE Index contracts placed after 1 January 2025, will have an expiry day of Tuesday

To learn more, you can refer to the: NSE circular | BSE circular

Please note, the following securities will be removed from SEBI’s list of approved securities for Margin Pledge.

As a result, you will not receive margins for F&O trading against these scrips starting Tuesday, 31 December 2024 : Click here for scrip details

NOTE: If you have pledged any of the above, starting 31 December 2024, you will not receive margins pledge benefit and you will be required to fulfil the full margin requirement. If you’re unable to pay, we will have to automatically square off your positions to recover the amount by 1 January 2025.
We have attached a list of these stocks for your reference.

Please review your portfolio and make necessary adjustments to avoid any inconvenience. Thank you for your understanding and cooperation.

On account of Christmas, there will be a trading holiday on Wednesday, 25 December 2024.

Keep in mind:

🔸Equity, Derivative and Commodity markets will be closed on 25 December. Trading will resume on 26 December.
🔸Standard Fund Withdrawal requests placed after 8 AM on 24 December will be processed on 26 December
🔸Instant Fund Withdrawal facility will not be available on 25 December

As per our previous communication, we would like to remind you about the lot size revisions and subsequent actions for BANKNIFTY, NIFTY, and SENSEX quarterly and half-yearly contracts. The revised lot sizes are detailed in the following table:

Which contracts are impacted by this?
The quarterly/half-yearly contracts expiring from March 2025 onwards are getting impacted.

What action is required from you?
If your existing quarterly/half-yearly positions are not in multiples of the revised lot size, you would be required to square off the existing position or purchase more lots.

Example: If you hold an existing position with 1 lot of NIFTY (March 2025 expiry and later) and the current lot size is 25, you have two options to align with the revised lot size of 75:
1. Add 2 more lots 
2. Square off your existing 1-lot

Why is this recommended?
Post revision, if your existing positions aren’t in multiples of the new lot size, you won’t be able to close/square off the position or book profit / losses.

IMPORTANT: Such a position may be worthless on the day of expiry

What actions shall be taken by Upstox?

1. If you don’t have existing Futures positions with quarterly/half-yearly expiry, you won’t be able to place fresh orders in such contracts. Fresh orders shall be permitted only after the expiry of the existing December 2024 contract.

2. If you have a long (Option Buy) position with quarterly/half-yearly expiry of March 2025 and later, no action shall be taken by Upstox. You can either exit the position or purchase further lots to match it to the new lot size. Otherwise, such positions may become worthless.

3. If you have a short (Option Sell) position with quarterly/half-yearly expiry of March 2025
and later, you shall be permitted to trade in such contracts until restricted by Upstox.

4. If your existing short positions are not in multiples of the revised lot size by the below deadline, margin and MTM requirements will apply. As we won’t be able to square off such positions in case there is a margin shortfall post revision of lot size, we will fully or partially square off the existing short position in December itself.

The permitted timeline for matching short positions in the revised multiples is as follows:

Please take cognisance of all your positions and plan your trade accordingly.