24 Dec 2025, 12:28 PM

Adjustment of F&O contracts of MCX on account of Split

As per the circular, effective from January 02nd, 2026 (ex-date), the MCX F&O contracts will be revised based on the split adjustment factor.

Calculation of the adjustment factor: The adjustment factor for the stock split of A: B is defined as (A/B). In the case of MCX, the adjustment factor is (5/1) = 5, since the split ratio is 5:1.

Adjustment for Futures Contracts:

Futures base price: The adjusted futures base price will be arrived at by dividing the settlement price of the future one day before the ex-date by the adjustment factor.

Futures lot size:

The adjusted market lot will be arrived at by multiplying the old market lot by the adjustment factor. The revised market lot would be 625.

Example: If you are holding a position in MCX January FUT and on pre-ex-date (January 01, 2026), futures close at 10900, on ex-date the price will be adjusted to 2180 (Price on pre-ex-date: 10900 / Adjustment Factor: 5). While the lot size will be adjusted to 625 (Current lot size: 125 * Adjustment Factor: 5).

Adjustment for Options Contracts:

Strike Price: The adjusted strike price will be arrived at by dividing the old strike price by the adjustment factor.

Lot Size:

The adjusted lot size will be arrived at by multiplying the old market lot by the adjustment factor. The revised lot size would be 625.

Example: If you are holding a position in MCX January 10900 CE, the current lot size is 125. On ex-date, the 10900 CE will be adjusted to 2180 CE (Strike Price: 10900 / Adjustment Factor: 5), and the lot size will be adjusted to 625 (Current Lot Size: 125 * Adjustment Factor: 5).

Also, if you hold equity shares of MCX on the record date (January 02, 2026), you will be eligible to receive the split shares.

The credit of shares can take up to 2 working days from the record date (January 02, 2026). You can check out more details here.

If you have any queries, then post them on our TradingQ&A forum here.