class="MsoNormal">The Multi-Commodity Exchange Clearing Corporation Limited (MCX) on July 08, 2026, notified regarding the revised Concentration Margin Framework for Commodity Futures and Index Options.
The following has been stated:
• MCX has revised its Concentration Margin framework, modifying its earlier circular dated June 9, 2026, with the new provisions effective from the beginning of trading on July 15, 2026. Under the revised framework, non-agricultural commodities will attract a concentration margin if their open interest value exceeds 5% of the Exchange-wide open interest or prescribed commodity-specific thresholds, while agricultural commodities will be subject to threshold-based criteria. For new and re-launched commodities, minimum open interest value thresholds of ₹250 crore (narrow/sensitive commodities) and ₹500 crore (broad commodities) will apply for one year from launch. Index options will attract concentration margin when the index open interest exceeds 5% of the Exchange-wide open interest (Futures + Options).
• The circular also revises the client-level and clearing member-level concentration margin slabs, prescribes the methodology for calculating open interest for commodity futures and index options, excludes approved hedge positions from the levy, and clarifies that concentration margin will be over and above all other applicable margins. The margin will be calculated daily, blocked from members' collateral for the next trading day, and reported through designated SFTP files.
• Clearing Members are also required to report the collection of concentration margins from clients in accordance with the existing client margin reporting framework.
[Notification no. - MCX/MCXCCL/393/2026]
