The National Stock Exchange (NSE) will terminate weekly index derivative contracts for Bank Nifty, Nifty Midcap Select and Nifty Financial Services. The changes come into effect on November 13, 18 and 19 respectively, as stated in a circular dated October 10. After these changes, the Nifty 50 will be the only index available for weekly derivatives trading.

The move follows SEBI’s recent directive, which requires exchanges to limit weekly options expiries to a single index per exchange, effective November 20. The new regulations also require exchanges to monitor intraday positions at least four times per day, with penalties for violations similar to those for end-of-day violations.

On October 1, SEBI announced a series of reforms aimed at strengthening investor protection and market stability in the derivatives segment. A key element of this reform is the limitation of weekly derivative contracts to a single benchmark per exchange.

These changes follow the volatility observed during contract expiration days, which is a concern for market stability. In line with these regulations, the BSE also confirmed that it will terminate weekly index derivatives for the SENSEX 50 on November 14 and for the BANKEX on November 18.