Regulation ASM stages

ASM stages 1 to 4 explained

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Long-term ASM has 4 escalating stages. Each stage adds restrictions:

StageRestrictions
Stage 1100% upfront margin; tightened price band
Stage 2T2T settlement (no intraday); plus Stage 1 restrictions
Stage 3Tighter price band (5% or 2%); plus Stages 1-2
Stage 4Periodic Call Auction matching; plus Stages 1-3

For the full details: Long-term ASM Stage 1 to 4 .

How scrips move between stages

  • Monthly trigger computation by exchange.
  • Escalation: Triggers continue; stage rises.
  • De-escalation: Triggers normalise; stage falls.
  • Exit: No active triggers; scrip removed from ASM.

See also

External references

References

  1. NSE India, LT-ASM operational guidelines, nseindia.com.
  2. SEBI, ASM framework, sebi.gov.in.

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