BSE updates 14-20 September 2026: KYC rules and IRD contracts

Trading members may permit trading only for clients whose KYC status is KYC Registered or KYC Validated, and must upload all client KYC records to the KRA. From 26 September, clients uploaded from 1 to 31 August 2026 who are On Hold cannot trade or square off, those positions run to contract expiry, and non-compliant PANs are flagged Not Permitted to Trade.

From 21 September, BSE offers interest rate futures and options on the 7.06 percent 2041, 6.57 percent 2033, and 6.53 percent 2031 government bonds.

BSE refreshed trade-to-trade, GSM, ESM, and ASM lists: trade-for-trade names draw 100 percent VAR and cannot be netted, new ESM names draw a minimum 100 percent margin and move to trade-for-trade, and short-term ASM Stage I is 50 percent or the existing margin, whichever is higher, capped at 100 percent, with Stage II at 100 percent. High-encumbrance names in Annexure I draw at least 75 percent margin in equity and equity derivatives on open positions as of 18 September and on new positions from 21 September.

Listed InvITs must calculate net distributable cash flows under the SEBI framework BSE circulated. The requirement takes effect immediately.

From 30 September, self-clearing members and clearing members who are also NSE brokers submit 14 common reports only to NSE under Samuhik Prativedan Manch, and NSE shares them with the clearing corporations. Trading members must file a corrective action report for the cyber security and cyber resilience audit for the period ended 31 March 2026 on the BSE Electronic Filing System, while members registered with NSE file their audit reports with NSE only.

Trading members and BSE Clearing members must integrate with the DoT Mobile Number Revocation List, reconcile customer records, and use the 1600 series only for service and transactional calls. Variable fields in SMS templates must be pre-tagged.

From 21 September, members and clients who give early pay-in of a commodity through the collateral system are exempt from margins on open positions in derivative contracts on that commodity.