HDFC's F&O Contracts To Expire On July 12

Housing Development Finance Corp. will be suspended from trading starting July 12.

The suspension will take effect at the close of trading hours on that day, the Bombay Stock Exchange and the National Stock Exchange have announced in separate filings.

July 13 has been fixed as the record date for determining the eligibility of shareholders who will get HDFC Bank shares under the merger deal. This move comes following the merger between HDFC Ltd. and HDFC Bank Ltd.

"All positions in existing futures and options contracts on underlying HDFC Ltd. shall cease to exist pursuant to the final settlement on July 12, 2023, and will result in a physical settlement," the NSE statement said.

Additionally, all existing futures and options contracts in HDFC with expiry dates after July 12 will expire on the same day. The contracts will be settled based on the settlement price of HDFC in the capital market segment on July 12.

The pay-in and pay-out of the final mark-to-market settlement of all futures contracts on HDFC shall be on July 13 (T+1 day).

HDFC closed nearly 3% lower on the exchanges.