SEBI has initiated changes in Eligibility criteria for inclusion of stocks in future and options segment.
Now a Stock has to fulfill following criteria to be included in the F&O Segment
- The stock shall be chosen from amongst the top 500 stocks in terms of average daily market capitalization and average daily traded value in the previous six months on a rolling basis.
- The stock’s median quarter sigma order size over the last six months shall be not less than Rs. 5 lakhs.
- The market wide position limit (MWPL) in the stock shall not be less than Rs. 100 crores.
A stock will be excluded from F&O on the basis of following criteria
- The Market wide position limit in the stock falls below Rs. 60 Crores and if Stock’s median quarter-sigma order size over the last six months is less than Rs. 2 Lacs for a period of continuous three months.
Further, once the stock is excluded from the F&O list, it shall not be considered for re-inclusion for a period of one year.
Based on the above criteria, the stock exchanges have issued a circular effective from 4th May,2009 excluding 50 stocks from F&O Segments. The existing unexpired contracts for the month of and April, May and June 2009 would continue to be available for trading till their respective expiry and new strikes would also be introduced in these existing contract months.
Prominent stocks excluded from F&O segment include 3i Infotech, Alok Industries, Aptech Limited, Gitanjali Gems, Jet Airways, NDTV, Rajesh Exports, Karnataka Bank, Amtek Auto, GNFC, Thermax, Hindustan Oil Exploration, RIIL and WockhardtRead More!