SEBI/HO/MIRSD/MIRSD -PoD/P/CIR/2025/109 — THE SECURITIES AND EXCHANGE BOARD OF INDIA ACT, 1992

CIRCULAR SEBI/HO/MIRSD/MIRSD -PoD/P/CIR/2025/109 To, All Recognized Stock Exchanges All Clearing Corporations Madam / Sir, Sub: Operational Efficiency in Monitoring of Non-Resident Indians (NRI) Position Limits in Exchange Traded Derivatives Contracts - Ease of Doing Investment SEBI, vide Para II of Circular no. SEBI/DNPD/Cir-17/2003/10/29 dated October 29, 2003 (hereinafter mentioned as 'circular'), inter alia, specified the operational modalities of monitoring of NRI position limits which required NRIs to notify the names of the Clearing Member/s for clearing derivative trades to the Exchange and assignment of a unique client code i.e. Custodial Participant (CP) Code to the NRI by the Exchange. The Exchange, in turn, would use this information to monitor the position limits of such NRI clients. As a step towards ease of doing investment and convenience to NRIs for trading in exchange traded derivatives contracts, to bring in operational efficiency and in line with the recommendation received from Brokers' Industry Standards Forum, it has been decided to do away with the mandatory requirement of NRIs having to notify the names of the Clearing Member/s and subsequent assignment of CP Code to the NRIs by the Exchange. Accordingly, for NRIs trading in exchange traded derivative contracts without CP code, the Exchange/Clearing Corporation shall monitor the NRI position limits in the manner similar to the client level position limits monitored by them. Position limits for NRIs shall be same as the client level position limits specified by SEBI from time to time. July 29, 2025 The Stock Exchanges/Clearing Corporations are directed to: 3.1. bring the provisions of this circular to the notice of their members and also disseminate the same on their websites; 3.2. make necessary