The gross open positions of the client across all contracts in the respective currency pairs shall not exceed the limits as mentioned below. For the purpose of computing the client level gross open position, Long position shall be considered as Long Futures, Long Calls, and Short Puts and Short Position shall be considered as Short Futures, Short Calls, and Long Puts

The Exchange would disseminate alerts if the gross open position of the client across all members (on the basis of PAN) across all contracts exceeds the aforesaid position limits or if the gross open position of the client across all members (on the basis of PAN) across all contracts exceeds 3% of the total open interest of the previous day’s trade at the end of the day

The gross open positions of the proprietary account across all contracts in the respective currency pairs shall not exceed the limits as mentioned below. For the purpose of computing the proprietary level gross open position, Long position shall be considered as Long Futures, Long Calls, and Short Puts and Short Position shall be considered as Short Futures, Short Calls, and Long Put

The gross open positions of the trading member across all contracts in the respective currency pairs shall not exceed the limits as mentioned below.

Domestic clients shall ensure that the position across exchanges is within the prescribed limit of USD 100 million equivalent. (Refer NSE circular: NSE/SURV/37410 dated April 03, 2018 and SEBI circular: SEBI/HO/MRD/DP/CIR/P/2018/50 dated March 15, 2018)

If position is in excess of USD 100 million equivalent, clients shall provide disclosure of underlying exposure to Trading Member as per existing practice.

In addition to the above, Exchanges shall monitor limits as per existing mechanism. When the client position reaches USD 75 million equivalent at a particular exchange, that exchange will intimate/caution the Trading Member(s) of that particular client regarding the combined single limit of USD 100 million equivalent. On basis of reply received by the Trading member, the exchange will take on record whether client has committed to remain within the limit or has confirmed about existence of underlying exposure.

Further, the member will be alerted if the client position reaches USD 85 million equivalent and USD 95 million equivalent respectively.

In case of FPI, existing mechanism for monitoring by the custodians shall remain unchanged.

For conversion to USD 100 million equivalent, members shall use the conversion ratio provided by Exchange’s on quarterly basis.

Clients / FPI have to ensure that their positions remain within the limit prescribed in para 5 of NSE circular no NSE/SURV/29575 dated April 29, 2015.

In case of positions taken to hedge underlying exposure, the position limit linked to open interest shall be applicable at the time of opening a position. Such positions shall not be required to be unwound in the event a drop of total open interest in a currency pair at a stock exchange. However, participants shall not be allowed to increase their existing positions or create new positions in the currency pair till they comply with the position limits.