NATIONAL STOCK EXCHANGE OF INDIA LIMITED
FUTURES & OPTIONS SEGMENT
CIRCULAR
Circular
No. NSE/F&O/076/2008 July 18, 2008
Download No: NSE/FAOP/11005
Dear Members,
Subject: Adjustment of Futures and Options contracts in the
security INDIAINFO
In pursuance of SEBI guidelines for
adjustments to futures and options contracts on announcement of corporate
action of split of shares, the members are informed of the following:
Corporate action:
India
Infoline Limited has informed the Exchange that the
record date for the purpose of sub-division/stock split of 1 equity share of
Rs.10/- each into the 5 equity shares of Rs.2/- each is fixed as August 18,
2008.
Symbol : INDIAINFO
Stock split ratio : 10:2
Ex-date : August 08, 2008
Record Date : August 18, 2008
Adjustment factor:
Adjustment factor for Split of
shares of A:B is defined as A/B. In the case of
INDIAINFO the adjustment factor is 10/2 = 5,
since the split ratio is 10:2.
Adjustments for Options Contracts:
1. Strike Price: The adjusted strike price
shall be arrived at by dividing the old strike price by the adjustment factor.
2. Market
Adjustments for Futures Contracts:
1. Futures Base Price: The adjusted Futures
Base Price shall be arrived at by dividing the old Futures Base Price by the
adjustment factor.
2. Market
An example of the adjustments
described above is given in Annexure 1.
The methodology for position adjustments shall be separately
intimated by NSCCL.
The above changes shall be effective
from August 08, 2008
Members are advised to load the
following files in the NEATFO software before trading on August 08, 2008
1. Security.gz
2. Contract.gz
These files can be obtained from the directory faoftp/faocommon
in the Extranet server.
The details of the revised option strike prices will be
informed to members through a circular separately on August 07, 2008.
For any clarifications, members are advised to contact the
following officials:
Mr Altaf Shaikh,Mr. Sachin Dhar and Mr. Arvind Goyal at 022-26598151 and 022-26598152.
For and on
behalf of
National
Stock Exchange of India Limited
Suprabhat Lala
Asst. Vice
President
Annexure-1
Option
contracts before adjustment:
|
Instrument |
Symbol |
Expiry date |
Strike |
Type |
Market |
|
OPTSTK |
INDIAINFO |
28-AUG-2008 |
700 |
CA |
250 |
|
OPTSTK |
INDIAINFO |
28-AUG-2008 |
700 |
PA |
250 |
|
OPTSTK |
INDIAINFO |
28-AUG-2008 |
720 |
CA |
250 |
|
OPTSTK |
INDIAINFO |
28-AUG-2008 |
720 |
PA |
250 |
Options
contracts after adjustment:
|
Instrument |
Symbol |
Expiry date |
Strike |
Type |
Market |
|
OPTSTK |
INDIAINFO |
28-AUG-2008 |
140 |
CA |
1250 |
|
OPTSTK |
INDIAINFO |
28-AUG-2008 |
140 |
PA |
1250 |
|
OPTSTK |
INDIAINFO |
28-AUG-2008 |
144 |
CA |
1250 |
|
OPTSTK |
INDIAINFO |
28-AUG-2008 |
144 |
PA |
1250 |
Futures
contract before adjustment:
|
Instrument |
Symbol |
Expiry date |
Futures Base Price** |
Market |
|
FUTSTK |
INDIAINFO |
28-AUG-2008 |
592.95 |
250 |
Futures
contract after adjustment:
|
Instrument |
Symbol |
Expiry date |
Futures Base Price** |
Market |
|
FUTSTK |
INDIAINFO |
28-AUG-2008 |
118.60 |
1250 |
**The price is only an indicative value
for the purpose of example.