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NSE Adjusts Futures and Options Contracts for HINDPETRO Post-Dividend

The NSE Clearing Limited has announced adjustments to the Futures and Options (F&O) contracts of Hindustan Petroleum Corporation Limited (HINDPETRO) following a dividend declaration. The adjustments will be effective from August 08, 2024, ensuring smooth clearing and settlement processes.

Key Adjustments to Futures Contracts

Futures Contracts Adjustment

NSE Clearing will adjust the futures contracts of HINDPETRO based on the reference rate from August 08, 2024, which is the last cum-dividend date. The reference rate for adjustment will be the daily mark-to-market settlement price, reduced by the dividend amount of ₹11.00.

• Adjustment Date: August 08, 2024
• Dividend Amount: ₹11.00
• Reference Rate: Daily settlement price on August 08, 2024, minus ₹11.00

Impact on Open Positions

Positions in futures contracts as of August 08, 2024, will be marked-to-market based on the adjusted settlement price. This adjustment will carry forward to the next trading day, August 09, 2024, with margins computed on the adjusted values.

• Example:
  • Pre-Adjustment Value: ₹400.00 per share
  • Post-Adjustment Value: ₹389.00 per share

Key Adjustments to Options Contracts

Options Contracts Strike Price Adjustment

The full dividend value of ₹11.00 will be deducted from the cum-dividend strike prices of HINDPETRO options contracts on August 09, 2024. The adjusted strike prices will reflect this deduction, and all existing positions will continue in the new strike prices.

• Adjustment Date: August 09, 2024
• New Strike Prices: Adjusted to nearest tick size, post ₹11.00 deduction.

Example of Strike Price Adjustment

• Pre-Adjustment Strike Price: ₹390.00 CE
• Post-Adjustment Strike Price: ₹379.00 CE

Detailed File Provisioning

Files Provided to Members

To ensure transparency and accuracy, NSE Clearing will provide two additional files to members at the end of the day on August 08, 2024:

Existing Positions: File detailing positions before adjustment.

• File Name: HINDPETRO_<Member Code>_EXISTING_POSITIONS.CSV

Adjusted Positions: File detailing positions after adjustment.

• File Name: HINDPETRO_<Member Code>_ADJUSTED_POSITIONS.CSV

File Structure Details

Both files will include comprehensive data at the client level, ensuring all members have access to accurate information regarding their futures and options contracts in HINDPETRO.