Applicability of Short-Term Additional Surveillance Measure (ST-ASM) · NSE/SURV/ 77135
NSE circular NSE/SURV/ 77135 · 27 Oct 2026
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The National Stock Exchange of India includes specific securities in Short-Term Additional Surveillance Measure (ST-ASM) Stage I and Stage II. Members must apply a 50 percent margin rate for Stage I securities. Members must apply a 100 percent margin rate for Stage II securities. These margin requirements apply to all open positions as of October 28, 2026. These requirements also apply to new positions created from October 29, 2026. The maximum margin rate is 100 percent. The ASM framework operates with other existing surveillance measures. The inclusion of securities in the ASM list is a market surveillance action and not an adverse action against the company.
What you must do
- Apply 50 percent margin or existing margin for ST-ASM Stage I securities.
- Apply 100 percent margin or existing margin for ST-ASM Stage II securities.
Key dates
Document text
National Stock Exchange of India Limited
Circular
| Department: SURVEILLANCE | |
|---|---|
| Download Ref No: NSE/SURV/ 77135 | Date: October 27, 2026 |
| Circular Ref. No: 827/2026 |
To All NSE Members
Sub: Applicability of Short-Term Additional Surveillance Measure (ST-ASM)
This is further to Exchange Circular nos. NSE/SURV/39265, NSE/SURV/46557, NSE/SURV/52144, NSE/SURV/58558 and NSE/SURV/64066 dated October 27, 2018, December 04, 2020, April 28, 2022, September 25, 2023, and September 20, 2024, respectively, in respect of Additional Surveillance Measure (ASM).
Members are hereby requested to note that the securities as per attached Annexure I have satisfied the criteria for inclusion under ST-ASM Stage I. The applicable surveillance actions shall be as per provisions of the Short-Term Additional Surveillance Measure (ST-ASM) which are as under:
- Applicable rate of margin shall be 50% or existing margin, whichever is higher, subject to maximum rate of margin capped at 100% w.e.f. October 29, 2026, on all open positions as on October 28, 2026, and new positions created from October 29, 2026.
Securities as per attached Annexure I have satisfied the criteria for inclusion under ST-ASM Stage II. The applicable surveillance actions shall be as per provisions of the Short-Term Additional Surveillance Measure (ST-ASM) which are as under:
- Applicable margin rate shall be 100% or existing margin whichever is higher subject to maximum rate of margin capped at 100% w.e.f. October 29, 2026, on all open positions as on October 28, 2026, and new positions created from October 29, 2026.
Continuation Sheet
National Stock Exchange of India Limited
Market participants may note that ASM framework shall be in conjunction with all other prevailing surveillance measures being imposed by the Exchanges from time to time.
Further, it may also be noted that the shortlisting of securities under ASM is purely on account of market surveillance, and it should not be construed as an adverse action against the concerned company / entity.
For more information on Additional Surveillance Measure please refer to our Frequently Asked Questions (FAQs) - https://www.nseindia.com/regulations/additional-surveillance-measure
In case of any further queries, you may write to us at surveillance@nse.co.in.
For and on behalf of
National Stock Exchange of India Limited
Amit Shinde
Chief Manager
Surveillance
Source details
- Source
- National Stock Exchange of India
- Type
- circular
- Published by source
- 27 Oct 2026
- Document number
- NSE/SURV/ 77135
- Issuing division
- SURVEILLANCE
- Effective date
- 29 Oct 2026
- Coverage area
- securities