Revised Expiry Schedule for Index Derivative Contracts

04 Dec 2024|

1 min read |

by ICICI Securities Team

As part of various measures introduced by SEBI for strengthening the equity derivative framework, exchanges have recently introduced significant revisions in the expiry days for specific index derivative contracts, effective from end-of-day (EOD) January 1, 2025. These changes are part of regulators continuous efforts to streamline trading and settlement processes, reduce operational complexities, and enhance market efficiency.

Below is a detailed overview of the changes and their implications for market participants.

Revised Expiry Days for Index Derivatives

The expiry days for certain index derivative contracts have been modified as follows:

NSE contracts:

Index Derivatives on	Current Expiry Day	Revised Expiry Day
BANKNIFTY monthly & quarterly contracts	Last Wednesday of expiry month	Last Thursday of the Expiry Month
FINNIFTY monthly contracts	Last Tuesday of expiry month
MIDCPNIFTY monthly contracts	Last Monday of expiry month
NIFTYNXT50 monthly contracts	Last Friday of expiry month

Please Note: The expiry schedule for NIFTY contracts (monthly, weekly, quarterly, and half-yearly) remains unchanged.

Rollover positions for NIFTY contracts are closed for the months of December – January and January- February.

BSE contracts:

Contract Period	Index	Existing expiry day	Revised expiry day
Weekly contracts	SENSEX	Friday of every week	Tuesday of every week
Monthly contracts	SENSEX	Last Friday of the expiry month	Last Tuesday of the expiry month
	BANKEX	Last Monday of the expiry month
	SENSEX50	Last Thursday of the expiry month
Quarterly & Semi-annually Contracts	SENSEX	Last Friday of the expiry month	Last Tuesday of the expiry month

Key Points to Note

1. Implementation Timeline

The changes will come into effect from January 1, 2025 (EOD). From this date, all existing contracts will adopt the new expiry schedule. Contracts created on or after this date will automatically follow the revised expiry day.

2. Availability of Updated Data

Revised expiry details for all existing index derivatives contracts will be available in the updated contract files generated at the end of January 1, 2025. These will apply to trading from January 2, 2025 onwards.

3. Operational Adjustments

The revised expiry schedule minimizes overlaps with other market events and holidays, reducing operational complexities for market participants.

The revised contract expiries which will be available for the below Index derivatives contracts on trading date of January 02,2025 are given below:

FOR NSE: