The NSE IFSC Clearing Corporation issued a circular on May 27, 2026, regarding the implementation of cross-margin benefits between specified spread pairs.
The following has been stated:
This circular is issued in continuation of the earlier Circular Ref. No. NICCL/C&S/1098 dated April 01, 2026. Under the revised framework, NSEICC will provide cross-margin benefits for the following spread pairs:
NIFTY – BANKNIFTY
NIFTY – FINNIFTY
NIFTY – Constituents of NIFTY 50 Index
BANKNIFTY – FINNIFTY
INRUSD – QINRUSD
The applicable spread benefit percentage, spread priority, and cross margin ratio/delta details are provided in Annexure 1 of the circular.
Further, the cross margin ratio for INRUSD and QINRUSD contracts shall be calculated based on their respective contract values. The equivalent position in QINRUSD for one INRUSD position will be determined by dividing the contract value of INRUSD by the contract value of QINRUSD, using the underlying prices of both products.
The revised provisions shall come into effect from May 28, 2026. Members are advised to take note of the changes and ensure necessary compliance.
Please refer to the document attached below for more details.
[Circular Ref. No. 074/2026]
