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A securities regulator mandated prudential eligibility criteria for derivatives on Non-Benchmark Indices: minimum 14 constituents, top constituent weight ≤20%, top three ≤45%, and descending individual weights. Stock exchanges must submit proposals and may comply by adjusting constituents/weights; two indices will adjust in a single tranche, while a major index will rebalance over four monthly tranches with iterative weight reductions and redistribution of excess to other constituents. Implementation deadlines were set: the phased index by March 31, 2026, and the two single-tranche indices by December 31, 2025. Exchanges and clearing corporations must update systems, rules and notify market participants.