Revision of Initial Margin in Crude Oil
BSE notice 20260515-24 · 15 May 2026
Official title
Revision of Initial Margin in Crude Oil (All variants).
Official record
Open source pageSummary
Check the official recordWhat changed
The Indian Clearing Corporation Limited revises the Minimum Initial Margin, Short Option Minimum Margin, and Volatility Scan Range for all Crude Oil contract variants. The authority reduces these margin requirements from 33.00 percent to 30.00 percent. Clearing Members must apply the higher value of the minimum initial margin or the Value at Risk scaled by the Margin Period of Risk. These changes apply to all Commodity Derivatives segment participants. The new margin requirements take effect from the beginning of the trading day on 18 May 2026.
What you must do
- Apply the higher of the minimum initial margin or the VaR scaled up by MPOR.
Key dates
- Effective from
- 18 May 2026
- Effective date of margin revision
- 18 May 2026
Document text
[Image omitted. See the official document.]
NOTICE
| Notice No. | 20260515-24 |
|---|---|
| Notice Date | 15 May 2026 |
| Category | Settlement/RMS |
| Segment | Commodity Derivatives |
| Department | ICCL |
| Subject | Revision of Initial Margin in Crude Oil (All variants). |
| Attachments | No Attachment |
[Image omitted. See the official document.]
To
All Members/Participants,
This circular is issued in modification of ICCL circular no. 20260310-8 dated 10th March 2026, with reference to revision of Initial Margin in Crude Oil (all variants). In accordance with the Rules, Bye-laws, and Regulations of the Indian Clearing Corporation Limited (ICCL), Clearing Members are hereby notified as under:
As a part of periodic review of adequacy of risk management measures and to mitigate systemic risk, ICCL has decided to revise the Minimum Initial Margin (IM), SOMM and VSR in Crude Oil contracts (all variants) from 33.00% to 30.00%.
Details of the applicable margins will be as under:
| Minimum Initial Margin (%) | Short Option Minimum Margin % (SOMM) | Applicable MPOR | Applicable VSR (%) |
|---|---|---|---|
| 30 | 30 | 3 | 30 |
Initial Margin in above contracts shall be higher of minimum initial margin or VaR scaled up by MPOR.
The provisions of this circular shall be applicable with effect from Begin of Day on Monday, 18th May 2026.
Members are requested to take note of the same.
Sushant Majhi
Chief Risk Officer – Risk Management
| Risk Department | |
|---|---|
| Email: | risk.monitoring@icclindia.com |
| Contact No: | +91-22-2272 5186/8902 |
Source details
- Source
- BSE Ltd (Bombay Stock Exchange)
- Type
- notice
- Published by source
- 15 May 2026
- Document number
- 20260515-24
- Issuing division
- ICCL
- Effective date
- 18 May 2026
- Coverage area
- securities