Silver Gets Pricier To Trade: NSE Imposes 2.5% Extra Margin On Futures From October 23

NSE tightens margin norms for silver contracts

In a fresh regulatory update, the National Stock Exchange (NSE) has announced a 2.50% additional margin on silver futures contracts across all variants, effective October 23, 2025. This includes SILVER, SILVERM, SILVERMIC, and SILVER1KG contracts traded on the commodity derivatives segment.

The margin hike is part of NSE’s broader strategy to enhance market stability and protect clearing corporations from potential price shocks. With silver prices fluctuating due to global economic uncertainty, the exchange aims to curb excessive speculation and ensure prudent trading practices.

Why the margin hike matters

Silver has seen heightened volatility in recent weeks, driven by shifting interest rate expectations, currency movements, and geopolitical tensions. The added margin will be imposed over and above the existing SPAN and extreme loss margins, increasing the cost of leveraged positions.

Brokerages have begun alerting clients to review their exposure and maintain sufficient funds in their trading accounts. The move is expected to impact short-term traders and those operating with high leverage, especially in mini and micro contracts.

Key highlights of the margin update

- NSE to impose 2.50% additional margin on silver futures contracts from October 23  
- Applies to all variants: SILVER, SILVERM, SILVERMIC, and SILVER1KG  
- Aimed at enhancing risk controls amid global price volatility  
- Margin hike is in addition to existing SPAN and extreme loss margins  
- Traders advised to reassess positions and maintain adequate margins  
- Brokerages issuing alerts to clients ahead of implementation  
- Silver prices have ranged between ₹1,571 and ₹1,606 per 10 grams this week  
- Commodity evening session remains unaffected by the margin change  

Looking ahead

As festive demand and macroeconomic factors continue to influence bullion prices, traders are urged to stay updated on margin circulars and adjust strategies accordingly. The margin revision may lead to cautious trading in the short term, especially among retail participants.

Sources: NSE India, DollarRupee.in, Zerodha Varsity