Intraday position limits cap entity FutEq exposure, triggering random monitoring and penalties for breaches to protect market integrity. Entity-level intraday monitoring for index options sets FutEq-based caps: an intraday Net position limit of Rs.5,000 crore and an intraday Gross limit of Rs.10,000 crore (separate long/short). Stock Exchanges must perform at least four random intraday snapshots, including one near market close, considering underlying prices when taking snapshots. Additional exposure against eligible securities or cash/cash equivalents is permitted per the prior FutEq framework. Breaches will trigger trading-pattern reviews, client rationale requests, constituent trading checks, regulator discussions, and on expiry days may attract penalties or additional surveillance deposits as decided by Exchanges.
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Provisions expressly mentioned in the judgment/order text.
Intraday position limits cap entity FutEq exposure, triggering random monitoring and penalties for breaches to protect market integrity.
Entity-level intraday monitoring for index options sets FutEq-based caps: an intraday Net position limit of Rs.5,000 crore and an intraday Gross limit of Rs.10,000 crore (separate long/short). Stock Exchanges must perform at least four random intraday snapshots, including one near market close, considering underlying prices when taking snapshots. Additional exposure against eligible securities or cash/cash equivalents is permitted per the prior FutEq framework. Breaches will trigger trading-pattern reviews, client rationale requests, constituent trading checks, regulator discussions, and on expiry days may attract penalties or additional surveillance deposits as decided by Exchanges.
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