NATIONAL STOCK EXCHANGE OF INDIA LIMITED
FUTURES & OPTIONS SEGMENT
CIRCULAR
Circular
No. NSE/F&O/099/2008 September 24, 2008
Download No: NSE/FAOP/11357
Dear Members,
Subject: Adjustment of Futures and Options contracts in the
security AIAENG
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:
Aia Engineering Limited has informed the Exchange that the
Board of Directors of the Company has fixed October 18, 2008 as the Record Date
for the purpose of Sub-division / Stock Split of Equity Shares of Face Value of
Rs. 10 each of the Company into the face value of Rs. 2 each.
Symbol : AIAENG
Stock split ratio : 10:2
Ex-date : October 13, 2008
Record Date : October 20, 2008
Adjustment factor:
Adjustment factor for Split of
shares of A:B is defined as A/B. In the case of AIAENG
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 Lot: The adjusted market lot
shall be arrived at by multiplying the old market lot by the adjustment factor.
The revised market lot would be 1000.
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 Lot: The adjusted market lot
shall be arrived at by multiplying the old market lot by the adjustment factor.
The revised market lot would be 1000
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 October 13, 2008
Members are advised to load the
following files in the NEATFO software before trading on October 13, 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 October 10, 2008.
For any clarifications, members are advised to contact the
following officials:
Mr. Sachin Dhar
and Mr. Janardhan Gujaran
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 Lot |
|
OPTSTK |
AIAENG |
25-SEP-2008 |
1110 |
CA |
200 |
|
OPTSTK |
AIAENG |
25-SEP-2008 |
1110 |
PA |
200 |
|
OPTSTK |
AIAENG |
25-SEP-2008 |
1140 |
CA |
200 |
|
OPTSTK |
AIAENG |
25-SEP-2008 |
1140 |
PA |
200 |
Options
contracts after adjustment:
|
Instrument |
Symbol |
Expiry date |
Strike |
Type |
Market Lot |
|
OPTSTK |
AIAENG |
25-SEP-2008 |
222 |
CA |
1000 |
|
OPTSTK |
AIAENG |
25-SEP-2008 |
222 |
PA |
1000 |
|
OPTSTK |
AIAENG |
25-SEP-2008 |
228 |
CA |
1000 |
|
OPTSTK |
AIAENG |
25-SEP-2008 |
228 |
PA |
1000 |
Futures
contract before adjustment:
|
Instrument |
Symbol |
Expiry date |
Futures Base Price** |
Market Lot |
|
FUTSTK |
AIAENG |
25-SEP-2008 |
1518.75 |
200 |
Futures
contract after adjustment:
|
Instrument |
Symbol |
Expiry date |
Futures Base Price** |
Market Lot |
|
FUTSTK |
AIAENG |
25-SEP-2008 |
303.75 |
1000 |
**The price is only an indicative
value for the purpose of example.