The National Commodity & Derivatives Exchange Limited (NCDEX), on January 05, 2026, issued a circular informing trading and clearing members about the re-triggering of the Event based Additional Surveillance Margin (E-ASM) in line with earlier surveillance circulars issued between 2019 and 2021. The measure is based on high–low price variation criteria to manage heightened volatility in select agricultural commodities.
As per the circular, an E-ASM of 2.5% has been re-triggered and shall be applicable to all running contracts as well as yet-to-be-launched contracts in Guar Gum and Turmeric. The margin has been applied after the specified price movement thresholds were met, and it will remain effective up to January 27, 2026. The trigger dates and applicability periods have been detailed commodity-wise, while Guar Seed continues to remain under E-ASM till January 23, 2026 as per earlier triggers.
NCDEX has clarified that all other applicable margins will continue unchanged, and members are advised to take note of the enhanced surveillance requirement and ensure compliance while managing positions in the affected commodities.
[Circular No. NCDEX/SURVEILLANCE & INVESTIGATION-003/2026]
