The National Commodity & Derivatives Exchange Limited (NCDEX), (NCDEX) on November 25, 2025, issued a circular announcing the applicability of the Event-Based Additional Surveillance Margin (E-ASM) on select commodities pursuant to earlier surveillance circulars. The mechanism evaluates volatility through the High-Low variation formula and imposes additional margins to strengthen market integrity and risk mitigation.
NCDEX has informed that, based on the recent High–Low price variation exceeding the prescribed threshold, an E-ASM of 2.5% has been re-triggered for Coriander and will apply to all running and upcoming contracts until December 16, 2025. For other commodities such as Barley, Castor Seed, Guar Gum, Guar Seed, and Jeera, no triggers have been recorded, while Turmeric continues under its earlier E-ASM applicability till December 5, 2025.
The Exchange clarified that all other applicable margins remain unchanged, and members must ensure compliance with the revised surveillance margins. The trigger table indicating movement-based activation has been provided to guide members regarding commodity-wise applicability.
[Circular No. NCDEX/SURVEILLANCE & INVESTIGATION-067/2025]
