The key revisions include a new method for calculating Open Interest (OI) as Future Equivalent Open Interest (FutEq OI) at a portfolio level, using delta adjustments for futures and options. The Market Wide Position Limit (MWPL) for single stocks will now be lower of 15% of free float or 65 times the Average Daily Delivery Value, with a 10% free float floor. During a ban period for single stocks, any trading must result in a reduction of FutEq OI by the end of the day. Intraday monitoring of MWPL utilization will be performed randomly by stock exchanges.
— New position limits for index futures and options have been set, with a glide path for implementation of index options limits until December 5, 2025. Additionally, the pre-open session will extend to current-month futures contracts, and new eligibility criteria for derivatives on non-benchmark indices have been defined. Also, individual entity-level position limits for single stocks have been recalibrated based on the new MWPL definition. These changes will be implemented in phases, with various effective dates ranging from 1st July 2025, to 6th December 2025.