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    New Updates In Futures & Options

    What is a Quantity Freeze Limit in futures and options?

    A Quantity Freeze Limit is the maximum permissible order quantity for a single trade in Futures and Options (F&O) contracts. If an order quantity exceeds this limit, it is automatically rejected by the exchange system.

    The objective is to:

    • Prevent fat finger trades (unintentional large order entries).
    • Strengthen risk management.
    • Safeguard market stability.

    Previous vs. Revised Quantity Freeze Limits:

    Index Symbol

    Previous Limit (quantity)

    Revised Freeze Limit (quantity)

    (w.e.f. Sept 1, 2025)

    Revised Freeze Limit (quantity)

    (w.e.f. Dec 01, 2025)

    Revised Freeze Limit (quantity)

    (w.e.f. Feb 01, 2026)

    BANKNIFTY

    600

    900

    		  600 600 

    NIFTY50

    1,800

    1,800

    		  1800 1800 

    FINNIFTY

    1,800

    1,800

    		  1200 1800 

    MIDCPNIFTY

    2,800

    2,800

    		  2800 2800 

    NIFTYNXT50

    600

    600


    		  600 600 
     
    Note: As per the National Stock Exchange of India circular, the Nifty quantity freeze limit remains 1,800; however, with the revised lot size of 65, the effective freeze quantity becomes 1,755 (i.e., the highest divisible lot multiple below 1,800). This is only an example—other indices will follow the same methodology, where the maximum permissible lots are calculated based on the divisible lot size within the prescribed freeze quantity limit.

    For BSE:

    l. No. Index Name Freeze Quantity (in units) Freeze quantity (in lots)
    1 SENSEX 1000 50
    2 BANKEX 900 30

    Example for better understanding:

    Suppose a trader wants to place an order in Bank Nifty Futures:

    The freeze limit is 900.

    If the trader tries to place an order for 1,200 quantities in one go, the order will be rejected.

    Instead, it needs to be split into smaller chunks (e.g., 900 quantity + 300 quantity).

    Where can I check my turnover statement for futures and options? Why is there a difference between my profit and loss statement and turnover statement in futures and options?
    What is the Option 20 scheme? What is the GST amount for option trade? Where do I check the date from which I have been mapped under Options 20? Does ICICI Direct offer Futures & Options (F&O) contracts with up to 1-year expiry? What is VAR + ELM? Why is it required for stock options? What are the brokerage charges in Futures & Options if I am mapped to Option 7 scheme? Can I place an order before and after market hours for futures and options on ICICI Direct? What is the MTM (Mark-to-Market) process in F&O? Why am I unable to place an F&O order? Recent Price Revision in F&O When is Extreme Loss Margin(ELM) applicable? Why did my position in Futures and Options get squared-off ? What happens in case my F&O Limit goes negative due to placing Option Buy order at Market price? Why isn't my order getting executed even though it has been placed successfully in Futures and Options? Understanding EBA/F&O Entries in Your ICICI Account or Ledger How limits are displayed on limits page? What is settlement cycle in F&O? How to download STT statement for Futures and Options?
    What are the new lot sizes for index derivatives? When will the new lot sizes for weekly and monthly contracts be effective? What happens to existing contracts during the transition? Can different lot sizes co-exist in the same month? How do the new lot sizes impact margin requirements? What other changes has SEBI introduced in the F&O segment? What is the rationale behind the changes in Futures and Options new rules mentioned in circular dated November 2024? What are the implementation dates for the new changes? What is revised expiry schedule for NSE contracts? What is revised expiry schedule for BSE contracts? When will the new lot sizes for derivative contracts be effective? What is the change in lot size for long dated options and do I need to square off my long-dated positions? What are the deadlines to close my long-dated option positions? What Happens If I Do Not Square Off my long-dated options position?
    Removal of Calendar Spread Margin Benefits on Expiry Days What is the removal of calendar spread? What is a calendar spread? How does the removal of margin benefit work on the day of expiry? Which contracts are affected due to removal of calendar spread? What will happen to my calendar spread on expiry day? Will this rule apply to Options Calendar Spread as well? How can traders manage this change? Where can I see my total margins for my positions one day before the expiry? If I am unable to bring the margin how my position will be impacted?
    What is the timeline to act on a shortfall? What should I do in case of a margin shortfall? When does margin shortfall occur? How will I know if I have a margin shortfall?
    What can I do if I already have a position in a banned stock? What is MWPL? When does any stock enter Ban Period in F&O segment? Can I trade in a stock that is under MWPL ban period? What is Change in the Open Interest (OI) Calculation methodology - Delta-Based (Future-Equivalent) OI? What is Position Limit Monitoring for Index Futures and Index Options?
    For which instruments is pre-open session applicable in Equity Derivatives market? What are the pre-open session timings? What shall be the trading parameters for Equity Derivatives market for pre-open session? Will the Self Trade Prevention Check (STPC) mechanism be applicable during the pre-open session in the Equity Derivatives segment? The pre-open session comprises of how many sessions? What are the features? On what basis is the equilibrium / opening price determined for pre-open session? What happens to unmatched orders which are entered in the pre-open session? Will the orders received in pre-open session be validated at the applicable margins?
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