List Of New Derivatives Lot Sizes With Min 5 Lakh Value

List Of New Derivatives Lot Sizes announced by National Stock Exchange of India on 07 Aug 2015 with minimum contract value of Rupees 5,00,000.  This is a huge revision upwards in lot sizes in recent years.  This increase in derivatives contracts sizes is due to the recent SEBI Circular for keeping the minimum lot value to 5 Lakh Rupees.  Nifty lot size is increased to 75 from existing contract size of 25 and BankNifty lot sizes from 25 to 30.  These revised derivatives lot sizes will be effective from Nov 2015 and later expiries only.  It means all the present contracts available for August, September and October will remain unaffected.

Update as on 17 Aug 2015: NSE has partially modified earlier circulated lot sizes which are updated in the below table.  Earlier most of the lots were having very odd lot sizes which appeared very difficult to remember.  The most logical reason for this partial modification by NSE in revision of the new lots appears to round off these lot sizes to nearest 100’s.  For example earlier the lot size of ADANIENT was 5700 which is now 6000 and similarly ADANIPOWER lot size was 17650 (Hard to remember. Is not it?) is rounded off to 20000 in the latest partial modification list.  After this, guess whats the stock with highest lot size?  If you guessed it as UNITECH, its correct.  The new lot size of unitech lot size is 77000 (Yes, three zeroes after 77) which is the highest lot size among all the indices and stocks traded in futures and options segment.

List Of New Derivatives Lot Sizes – Revised Upward

A total of 160 derivatives contracts for both index and stocks has been revised upwards.  After the revision MRF has minimum lot size of 15 among stocks.  Bank Nifty and DJIA indices with a lot size of 30 are lowest.  Unitech has highest lot size of 67350 followed by JPASSOCIAT with a lot size of 45175.  Lot sizes are decided based on the average price of underlying for the period from 08 July to 07 Aug 2015.

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List Of New Derivatives Lot Sizes – Revised Down

Out of 168 stocks available for trading in f&0 segment of National Stock Exchange of India (NSE) only 4 derivative contracts lot sizes are revised downwards.  Out of these 4, two contracts lot sizes are revised downwards but their new lot sizes are not in multiples of old sizes.  Below is the list of these new f&o lots sizes.  For BOSCHLTD and EICHERMOT the lot sizes are in multiples of old lot sizes (1/5th of earlier lot sizes).  But for MRF and PAGEIND new lot sizes are not exactly divisible with old lots. But the

Sr NoUnderlyingSymbolPresent Market LotRevised Market Lot
1BOSCH LIMITEDBOSCHLTD12525
2EICHER MOTORS LTDEICHERMOT12525
3MRF LTDMRF12515
4PAGE INDUSTRIES LTDPAGEIND12550

Unchanged List of f&o contracts

Two contract lot sizes are not effected with this revision of lot sizes after the SEBI’s decision of keeping minimum lot value to 5 lakh rupees.

Sr NoUnderlyingSymbolPresent Market Lot
1BAJAJ FINANCE LIMITEDBAJFINANCE125
2MARUTI SUZUKI INDIA LTD.MARUTI125

As per SEBI guidelines for periodic revision of lot sizes for derivatives contracts vide SEBI circular Number CIR/MRD/DP/14/2015 of 13 Jul 2015, and National Stock Exchange Circular  NSE/FAOP/30449 dated 07 Aug 2015 on revision in the market lot of derivatives contracts on Indices, the Exchange hereby notifies that the lot size of all existing NIFTY long term options contracts (having expiry greater than 3 months and including December 2015 contracts) shall be revised from 50 to 75 after expiry of September 2015 contracts (i.e. w.e.f. September 28, 2015).

The aim of this revision is mostly to keep retail investors with little margins away from derivatives segment.  It has been observed that most novice traders jump into derivatives trading without proper understanding of the nuances of the contracts.  The increase in these lot sizes may effect volumes initially on the exchanges.  The effect may be more in the options segment than in futures as most retail investors were participating in options segment with virtually very little amount.

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