SEBI Approves Stricter Norms For Inclusion Of Derivative Trading On Individual Stocks

Further, the stock’s market-wide position limit should not be less than Rs 1,500 crore. The stock’s Median Quarter-Sigma Order Size over the last six months should be Rs 75 lakh against Rs 25 lakh at present.The stock’s minimum rolling average daily delivery value in the cash market in the previous six months should be Rs 35 crore. Currently, this is Rs 10 crore.To evaluate the exit of a stock from the derivative segment, Sebi said that at least 15 per cent of active traders or 200 members, whichever is low, should have traded in the stock on the stock being reviewed, average daily turnover should be at least Rs 75 crore and average daily notional open interest (futures + options notional) should be at least Rs 500 crore of that particular stock.The criteria for exit should apply to only those stocks, which have completed at least 6 months from the month of entry into the derivative segment. Further, for existing stocks in the derivatives segment, the exit criteria on the basis of performance would be applicable 3 months after the date of issuance of the circular.

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