BSE Ltd.

10/24/2025 | Press release | Distributed by Public on 10/23/2025 22:26

Consolidated penalties for trading-limit violations and position-limit violations across segments

NOTICES
Notice No. 20251024-2 Notice Date 24 Oct 2025
Category Settlement/RMS Segment General
Subject Consolidated penalties for trading-limit violations and position-limit violations across segments
Content

To,

Members are hereby requested to note that for the ease of information, a consolidated summary of penalties applicable for trading limit violation and position limit violations for various segment is provided below:<_o3a_p>

Trading Limit Violation (RRM Violation) for Equity Cash, Equity & Currency Derivatives Segment:<_o3a_p>

Table 1.1<_o3a_p>

Instances in a Calendar Month<_o3a_p>

Violation Amount<_o3a_p>

Penalty<_o3a_p>

1st Instance<_o3a_p>

Any amount<_o3a_p>

0.07% per day<_o3a_p>

2nd to 5th Instance<_o3a_p>

<_o3a_p>

≤ Rs 1 crore<_o3a_p>

0.07% per day + Rs 1,000 per instance<_o3a_p>

> Rs 1 crore<_o3a_p>

0.07% per day + Rs 5,000 per instance<_o3a_p>

6th to 10th Instance<_o3a_p>

<_o3a_p>

≤ Rs 1 crore<_o3a_p>

0.07% per day + Rs 4,000 (cumulative for 2nd-5th) + Rs 2,000 per instance (6th-10th)<_o3a_p>

> Rs 1 crore<_o3a_p>

0.07% per day + Rs 20,000 (cumulative for 2nd-5th) + Rs 10,000 per instance (6th-10th)<_o3a_p>

11th Instance Onwards<_o3a_p>

<_o3a_p>

≤ Rs 1 crore<_o3a_p>

0.07% per day + Rs 14,000 (cumulative for 2nd-10th) + Rs 2,000 per instance<_o3a_p>

> Rs 1 crore<_o3a_p>

0.07% per day + Rs 70,000 (cumulative for 2nd-10th) + Rs 10,000 per instance<_o3a_p>

*Note: From the 11th instance onwards, the Member will also be referred to the Member Committee for suitable action.<_o3a_p>

Trading Limit Violation (RRM Violation) for Securities Lending & Borrowing Segment:

Table 1.2<_o3a_p>

Instance of Disablement<_o3a_p>

Penalty<_o3a_p>

1st<_o3a_p>

0.07% per day<_o3a_p>

2nd to 5th<_o3a_p>

0.07% per day + Rs 5,000 per instance<_o3a_p>

6th to 10th<_o3a_p>

0.07% per day + Rs 10,000 per instance<_o3a_p>

11th onwards<_o3a_p>

0.07% per day + Rs 10,000 per instance + Referral to Member Committee<_o3a_p>

Penalty for violation in Position Limit for Trading Member/ FPI / Mutual Fund Level Violations (Equity Derivatives):<_o3a_p>

  • Penalty of 1% of violation value (violation value = violated quantity * underlying price) subject to minimum of Rs. 5000 and maximum of Rs. 1,00,000 per entity per stock per day shall be levied. <_o3a_p>

Position Limit Violation Trading Member Level (Currency Derivatives):<_o3a_p>

Table 1.3<_o3a_p>

Instances in a Month<_o3a_p>

Penalty<_o3a_p>

1st Instance<_o3a_p>

No penalty<_o3a_p>

2nd to 5th<_o3a_p>

Rs 5,000 per instance<_o3a_p>

6th to 10th<_o3a_p>

Rs 20,000 (cumulative for 2nd-5th) + Rs 10,000 per instance (6th-10th)<_o3a_p>

11th Onwards<_o3a_p>

Rs 70,000 (cumulative for 2nd-10th) + Rs 1,000 × cumulative instance count (e.g., Rs 11,000 for 11th, Rs 12,000 for 12th, etc.) + Referral to Member Committee<_o3a_p>

<_o3a_p>

The instances referred include all instances of position limit breaches occurring within a single calendar month. Penalties will be levied based on the number of position limit violations by a trading member across all underlying's within a calendar month.<_o3a_p>

<_o3a_p>

Position Limit Violation Client Level (Currency Derivatives):<_o3a_p>

  • When the open position of any client in Currency pair/ Interest Rate Derivative, exceeds the specified limit at the end of the day the same shall be treated as a violation.<_o3a_p>
  • In the event of violation, a penalty of Rs. 5,000/- per violation per client shall be levied to the Clearing members for each day of violation.<_o3a_p>
  • The above penalties shall be collected from the clearing member of the respective trading member and client. The concerned Clearing / Trading member may in turn recover such penalty amounts from the clients who committed the violation and are liable, therefore.<_o3a_p>

Position Limit Violation (Securities Lending & Borrowing Segment):<_o3a_p>

Table 1.4<_o3a_p>

Instance in a Month<_o3a_p>

Penalty<_o3a_p>

1st<_o3a_p>

No penalty for 1st instance <_o3a_p>

2nd to 5th<_o3a_p>

Rs 5,000 per instance<_o3a_p>

6th to 10th<_o3a_p>

Rs 10,000 per instance<_o3a_p>

11th onwards<_o3a_p>

Rs 10,000 per instance + Referral to Member Committee<_o3a_p>

Entity level penalty of positions violation during ban period:<_o3a_p>

  • Penalty of 1% of violation value (violation value = violated quantity * underlying price) subject to minimum of Rs. 5000 and maximum of Rs. 1,00,000 per entity per stock per day shall be levied.
    <_o3a_p>

Members are requested to take note of the above.<_o3a_p>

For and on behalf of Indian Clearing Corporation Ltd

Mr. Sushant Majhi<_o3a_p>

Chief Risk Officer<_o3a_p>

<_o3a_p>

Risk Department<_o3a_p>

Email<_o3a_p>

[email protected] / [email protected]<_o3a_p>

Contact No:<_o3a_p>

+91-22-2272 5059/8811<_o3a_p>

<_o3a_p>

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