NSE reduces Bank Nifty lot size to 15 from July 2023 expiry
Stock exchange NSE has reduced Bank Nifty’s lot size to 15 from 25 earlier from July 2023 monthly expiry. However, the stock exchange has left other market lots of derivatives contracts on indices unchanged, namely Nifty 50, Nifty Financial Services and Nifty Midcap Select, at 50, 45 and 75, respectively.
The NSE circular would come into effect from 28 April this year.
“Only the far month contract i.e. July 2023 expiry contracts will be revised for market lots. Contracts with maturity of April 2023, May 2023 and June 2023 would continue to have the existing market lots. All subsequent contracts (i.e. July 2023 monthly expiry and beyond) will have revised market lots,” the NSE circular read.
The lot size of all existing Nifty Bank long-term options contracts (having expiry greater than 3 months) shall be revised from 25 to 15 after expiry of June 2023 contracts (i.e. June 30, 2023), the NSE said.
The day spread order book will not be available for the combination contract of May 2023 July 2023 and June 2023 July 2023 expiries, it said.
NSE further said that contracts with August 2023 Weekly expiry and beyond will have revised market lots.
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Ganesh
http://ganesh@finplay.inFinance enthusiast, Mutual fund expert.