EQUITY SWAPS

Case 1. CONTRACT TCS Vs NIFTY50

JP Morgan
NOTIONAL VALUE 1 ₹ 5,000,000.00
NOTIONAL VALUE 2 ₹ 5,000,000.00
U/L ASSET 1. TCS BULLISH
2. NIFTY50 BEARISH
CONTRACT PERIOD 3 YEARS

JP MORGAN'S BOOKS

CHANGE %

1. TCS JP MORGAN TO MORGAN STANLEY ₹ 555,555.56

2. NIFTY50 MORGAN STANLEY TO JP MORGAN ₹ 75,301.20
₹ 630,856.76

CHANGE %

1. TCS JP MORGAN TO MORGAN STANLEY ₹ 375,000.00

2. NIFTY50 MORGAN STANLEY TO JP MORGAN ₹ -61,162.08
₹ 313,837.92

CHANGE %
1. TCS JP MORGAN TO MORGAN STANLEY ₹ -581,395.35
2. NIFTY50 MORGAN STANLEY TO JP MORGAN ₹ -102,719.03
₹ -684,114.38
EQUITY SWAPS
CONTRACT TCS Vs NIFTY50
MORGAN STANLEY
NOTIONAL VALUE 1 ₹ 5,000,000.00
NOTIONAL VALUE 2 ₹ 5,000,000.00
U/L ASSET 1. TCS
2. NIFTY50
CONTRACT PERIOD 3 YEARS

MARCH 12,2022
1. TCS ₹ 3,600.00 MORGAN STANLEY'S BOOKS
2. NIFTY50 ₹ 16,600.00

MARCH 12,2023
1. TCS ₹ 4,000.00
2. NIFTY50 ₹ 16,350.00

1. TCS 11%
2. NIFTY50 -2%

RECEIVE 1. TCS MORGAN STANLEY TO JP MORGAN ₹ -555,555.56

RECEIVE 2. NIFTY50 JP MORGAN TO MORGAN STANLEY ₹ -75,301.20
NET ₹ -630,856.76

MARCH 12,2024
1. TCS ₹ 4,300.00
2. NIFTY50 ₹ 16,550.00

1. TCS 8%
2. NIFTY50 1.22%

RECEIVE 1. TCS MORGAN STANLEY TO JP MORGAN ₹ -375,000.00

PAY 2. NIFTY50 JP MORGAN TO MORGAN STANLEY ₹ 61,162.08
NET ₹ -313,837.92

MARCH 12,2025
1. TCS ₹ 3,800.00
2. NIFTY50 ₹ 16,890.00

1. TCS -12%
2. NIFTY50 2%
PAY 1. TCS MORGAN STANLEY TO JP MORGAN ₹ 581,395.35
PAY 2. NIFTY50 JP MORGAN TO MORGAN STANLEY ₹ 102,719.03
NET ₹ 684,114.38
 Case 2. CONTRACT

NOTIONAL VALUE 1
NOTIONAL VALUE 2
BEARISH U/L ASSET
BULLISH
CONTRACT PERIOD

PAY 1. HDFC BANK JP MORGAN TO MORGAN STANLEY

PAY 2. AXIS BANK MORGAN STANLEY TO JP MORGAN
NET

PAY 1. HDFC BANK JP MORGAN TO MORGAN STANLEY

RECEIVE 2. AXIS BANK MORGAN STANLEY TO JP MORGAN
NET
RECEIVE 1. HDFC BANK JP MORGAN TO MORGAN STANLEY
RECEIVE 2. AXIS BANK MORGAN STANLEY TO JP MORGAN
NET
 EQUITY SWAPS
HDFC BANK VS AXIS BANK
JP Morgan
₹ 100,000.00
₹ 100,000.00
1. HDFC BANK BULLISH
2. AXIS BANK BEARISH
3 YEARS

MARCH 12,2022
JP MORGAN'S BOOKS 1. HDFC BANK ₹ 1,450.00
2. AXIS BANK ₹ 820.00

MARCH 12,2023
1. HDFC BANK ₹ 1,550.00
2. AXIS BANK ₹ 780.00

CHANGE % 1. HDFC BANK 7%

2. AXIS BANK -5%

MORGAN TO MORGAN STANLEY ₹ 6,896.55 RECEIVE 1. HDFC BANK MORGAN STANLEY TO JP MORGAN
ORGAN STANLEY TO JP MORGAN ₹ 4,878.05 RECEIVE 2. AXIS BANK JP MORGAN TO MORGAN STANLEY
₹ 11,774.60 NET

MARCH 12,2024
1. HDFC BANK ₹ 1,900.00
2. AXIS BANK ₹ 850.00

CHANGE % 1. HDFC BANK 23%

2. AXIS BANK 8.97%

MORGAN TO MORGAN STANLEY ₹ 22,580.65 RECEIVE 1. HDFC BANK MORGAN STANLEY TO JP MORGAN
ORGAN STANLEY TO JP MORGAN ₹ -8,974.36 PAY 2. AXIS BANK JP MORGAN TO MORGAN STANLEY
₹ 13,606.29 NET

MARCH 12,2025
1. HDFC BANK ₹ 1,780.00
2. AXIS BANK 925

CHANGE % 1. HDFC BANK -6%

2. AXIS BANK 9%
MORGAN TO MORGAN STANLEY ₹ -6,315.79 PAY 1. HDFC BANK MORGAN STANLEY TO JP MORGAN
ORGAN STANLEY TO JP MORGAN ₹ -8,823.53 PAY 2. AXIS BANK JP MORGAN TO MORGAN STANLEY
₹ -15,139.32 NET
 CONTRACT HDFC BANK VS AXIS BANK
MORGAN STANLEY
NOTIONAL VALUE 1 ₹ 100,000.00
NOTIONAL VALUE 2 ₹ 100,000.00
U/L ASSET 1. HDFC BANK BEARISH
2. AXIS BANK BULLISH
CONTRACT PERIOD 3 YEARS

MORGAN STANLEY'S BOOKS

MORGAN STANLEY TO JP MORGAN ₹ -6,896.55 PAY

JP MORGAN TO MORGAN STANLEY ₹ -4,878.05 PAY
₹ -11,774.60 NET

MORGAN STANLEY TO JP MORGAN ₹ -22,580.65 PAY

JP MORGAN TO MORGAN STANLEY ₹ 8,974.36 RECEIVE
₹ -13,606.29 NET
MORGAN STANLEY TO JP MORGAN ₹ 6,315.79 RECEIVE
JP MORGAN TO MORGAN STANLEY ₹ 8,823.53 RECEIVE
₹ 15,139.32 NET
 EQUITY SWAPS
Case 3. CONTRACT HUL VS NIFTYFMCG
JP Morgan
NOTIONAL VALUE 1 ₹ 1,500,000.00
NOTIONAL VALUE 2 ₹ 1,500,000.00
U/L ASSET 1. HUL BULLISH
2. NIFTYFMCG BEARISH
CONTRACT PERIOD 3 YEARS

MARCH 12,2022
JP MORGAN'S BOOKS 1. HUL
2. NIFTYFMCG

MARCH 12,2023
1. HUL
2. NIFTYFMCG

CHANGE % 1. HUL
2. NIFTYFMCG

1. HUL JP MORGAN TO MORGAN STANLEY ₹ 314,285.71 RECEIVE

2. NIFTYFMCG MORGAN STANLEY TO JP MORGAN ₹ 108,428.57 RECEIVE
₹ 422,714.29 NET

MARCH 12,2024
1. HUL
2. NIFTYFMCG

CHANGE % 1. HUL
2. NIFTYFMCG

1. HUL JP MORGAN TO MORGAN STANLEY ₹ 242,125.98 RECEIVE

2. NIFTYFMCG MORGAN STANLEY TO JP MORGAN ₹ -107,637.82 PAY
₹ 134,488.16 NET

MARCH 12,2025
1. HUL
2. NIFTYFMCG
 CHANGE % 1. HUL
2. NIFTYFMCG

1. HUL JP MORGAN TO MORGAN STANLEY ₹ -260,338.98 PAY

2. NIFTYFMCG MORGAN STANLEY TO JP MORGAN ₹ -37,931.03 PAY
₹ -298,270.02 NET
ITY SWAPS
CONTRACT HUL VS NIFTYFMCG
MORGAN STANLEY
NOTIONAL VALUE 1 ₹ 1,500,000.00
NOTIONAL VALUE 2 ₹ 1,500,000.00
U/L ASSET 1. HUL BEARISH
2. NIFTYFMCG BULLISH
CONTRACT PERIOD 3 YEARS

MARCH 12,2022
₹ 2,100.00 MORGAN STANLEY'S BOOKS
₹ 35,000.00

MARCH 12,2023
₹ 2,540.00
₹ 32,470.00

21%
-7%

1. HUL MORGAN STANLEY TO JP MORGAN ₹ -314,285.71 PAY

2. NIFTYFMCG JP MORGAN TO MORGAN STANLEY ₹ -108,428.57 PAY
₹ -422,714.29 NET

MARCH 12,2024
₹ 2,950.00
₹ 34,800.00

16%
7.18%

1. HUL MORGAN STANLEY TO JP MORGAN ₹ -242,125.98 PAY

2. NIFTYFMCG JP MORGAN TO MORGAN STANLEY ₹ 107,637.82 RECEIVE
₹ -134,488.16 NET

MARCH 12,2025
₹ 2,438.00
₹ 35,680.00
 -17%
3%

1. HUL MORGAN STANLEY TO JP MORGAN ₹ 260,338.98 RECEIVE

2. NIFTYFMCG JP MORGAN TO MORGAN STANLEY ₹ 37,931.03 RECEIVE
₹ 298,270.02 NET
 EQ
Case 4. CONTRACT M&M VS EICHER MOTORS
JP Morgan
NOTIONAL VALUE 1 ₹ 600,000.00
NOTIONAL VALUE 2 ₹ 600,000.00
U/L ASSET 1. M&M BULLISH
2. EICHER MOTORS BEARISH
CONTRACT PERIOD 3 YEARS

JP MORGAN'S BOOKS

1. M&M JP MORGAN TO MORGAN STANLEY

2. EICHER MOTO MORGAN STANLEY TO JP MORGAN

1. M&M JP MORGAN TO MORGAN STANLEY

2. EICHER MOTO MORGAN STANLEY TO JP MORGAN
1. M&M JP MORGAN TO MORGAN STANLEY
2. EICHER MOTO MORGAN STANLEY TO JP MORGAN
 EQUITY SWAPS
CONTRACT M&M VS EICHER MOTORS
MORGAN STANLEY
NOTIONAL VALUE 1 ₹ 600,000.00
NOTIONAL VALUE 2 ₹ 600,000.00
U/L ASSET 1. M&M
2. EICHER MOTORS
CONTRACT PERIOD 3 YEARS

MARCH 12,2022
1. M&M ₹ 760.00 MORGAN STANLEY'S BOOKS
2. EICHER MO ₹ 3,000.00

MARCH 12,2023
1. M&M ₹ 820.00
2. EICHER MO ₹ 2,745.00

CHANGE % 1. M&M 8%
2. EICHER MO -9%

₹ 47,368.42 RECEIVE 1. M&M MORGAN STANLEY TO JP MORGAN ₹ -47,368.42

₹ 51,000.00 RECEIVE 2. EICHER MOTO JP MORGAN TO MORGAN STANLEY ₹ -51,000.00
₹ 98,368.42 NET ₹ -98,368.42

MARCH 12,2024
1. M&M ₹ 950.00
2. EICHER MO ₹ 3,310.00

CHANGE % 1. M&M 16%

2. EICHER MO 20.58%

₹ 95,121.95 RECEIVE 1. M&M MORGAN STANLEY TO JP MORGAN ₹ -95,121.95

₹ -123,497.27 PAY 2. EICHER MOTO JP MORGAN TO MORGAN STANLEY ₹ 123,497.27
₹ -28,375.32 NET ₹ 28,375.32

MARCH 12,2025
1. M&M ₹ 885.00
2. EICHER MO 3480
CHANGE % 1. M&M -7%
2. EICHER MO 5%

₹ -41,052.63 PAY 1. M&M MORGAN STANLEY TO JP MORGAN ₹ 41,052.63

₹ -30,815.71 PAY 2. EICHER MOTO JP MORGAN TO MORGAN STANLEY ₹ 30,815.71
₹ -71,868.34 NET ₹ 71,868.34
S EICHER MOTORS

BEARISH
BULLISH

PAY
PAY
NET

PAY
RECEIVE
NET
RECEIVE
RECEIVE
NET
 EQUITY SWAPS
Case 5. CONTRACT INFOSYS VS SENSEX
JP Morgan
NOTIONAL VALUE 1 ₹ 1,500,000.00
NOTIONAL VALUE 2 ₹ 1,500,000.00
U/L ASSET 1. INFOSYS BULLISH
2. SENSEX BEARISH
CONTRACT PERIOD 3 YEARS

MARCH 12,2022
JP MORGAN'S BOOKS 1. INFOSYS
2. SENSEX

MARCH 12,2023
1. INFOSYS
2. SENSEX

CHANGE % 1. INFOSYS
2. SENSEX

1. INFOSYS JP MORGAN TO MORGAN STANLEY ₹ 461,666.67 RECEIVE

2. SENSEX MORGAN STANLEY TO JP MORGAN ₹ 14,459.46 RECEIVE
₹ 476,126.13 NET

MARCH 12,2024
1. INFOSYS
2. SENSEX

CHANGE % 1. INFOSYS
2. SENSEX

1. INFOSYS JP MORGAN TO MORGAN STANLEY ₹ 379,779.10 RECEIVE

2. SENSEX MORGAN STANLEY TO JP MORGAN ₹ -131,128.90 PAY
₹ 248,650.20 NET

MARCH 12,2025
1. INFOSYS
2. SENSEX
 CHANGE % 1. INFOSYS
2. SENSEX

1. INFOSYS JP MORGAN TO MORGAN STANLEY ₹ -260,338.98 PAY

2. SENSEX MORGAN STANLEY TO JP MORGAN ₹ -67,759.75 PAY
₹ -328,098.73 NET
ITY SWAPS
CONTRACT INFOSYS VS SENSEX
MORGAN STANLEY
NOTIONAL VALUE 1 ₹ 1,500,000.00
NOTIONAL VALUE 2 ₹ 1,500,000.00
U/L ASSET 1. INFOSYS BEARISH
2. SENSEX BULLISH
CONTRACT PERIOD 3 YEARS

MARCH 12,2022
₹ 1,800.00 MORGAN STANLEY'S BOOKS
₹ 55,500.00

MARCH 12,2023
₹ 2,354.00
₹ 54,965.00

31%
-1%

1. INFOSYS MORGAN STANLEY TO JP MORGAN ₹ -461,666.67 PAY

2. SENSEX JP MORGAN TO MORGAN STANLEY ₹ -14,459.46 PAY
₹ -476,126.13 NET

MARCH 12,2024
₹ 2,950.00
₹ 59,770.00

25%
8.74%

1. INFOSYS MORGAN STANLEY TO JP MORGAN ₹ -379,779.10 PAY

2. SENSEX JP MORGAN TO MORGAN STANLEY ₹ 131,128.90 RECEIVE
₹ -248,650.20 NET

MARCH 12,2025
₹ 2,438.00
₹ 62,470.00
 -17%
5%

1. INFOSYS MORGAN STANLEY TO JP MORGAN ₹ 260,338.98 RECEIVE

2. SENSEX JP MORGAN TO MORGAN STANLEY ₹ 67,759.75 RECEIVE
₹ 328,098.73 NET
 E
Case 6. CONTRACT CIPLA VS AURBINDO PHARMA
JP Morgan
NOTIONAL VALUE 1 ₹ 600,000.00
NOTIONAL VALUE 2 ₹ 600,000.00
U/L ASSET 1. CIPLA BULLISH
2. AURBINDO PHARMA BEARISH
CONTRACT PERIOD 3 YEARS

JP MORGAN'S BOOKS

1. CIPLA JP MORGAN TO MORGAN STANLEY

2. AURBINDO P MORGAN STANLEY TO JP MORGAN

1. CIPLA JP MORGAN TO MORGAN STANLEY

2. AURBINDO P MORGAN STANLEY TO JP MORGAN
1. CIPLA JP MORGAN TO MORGAN STANLEY
2. AURBINDO P MORGAN STANLEY TO JP MORGAN
 EQUITY SWAPS
CONTRACT CIPLA VS AURBINDO PHARMA
MORGAN STANLEY
NOTIONAL VALUE 1 ₹ 600,000.00
NOTIONAL VALUE 2 ₹ 600,000.00
U/L ASSET 1. CIPLA
2. AURBINDO PHARMA
CONTRACT PERIOD 3 YEARS

MARCH 12,2022
1. CIPLA ₹ 1,050.00 MORGAN STANLEY'S BOOKS
2. AURBINDO ₹ 650.00

MARCH 12,2023
1. CIPLA ₹ 1,245.00
2. AURBINDO ₹ 600.00

CHANGE % 1. CIPLA 19%

2. AURBINDO -8%

₹ 111,428.57 RECEIVE 1. CIPLA MORGAN STANLEY TO JP MORGAN ₹ -111,428.57

₹ 46,153.85 RECEIVE 2. AURBINDO P JP MORGAN TO MORGAN STANLEY ₹ -46,153.85
₹ 157,582.42 NET ₹ -157,582.42

MARCH 12,2024
1. CIPLA ₹ 1,436.00
2. AURBINDO ₹ 790.00

CHANGE % 1. CIPLA 15%

2. AURBINDO 31.67%

₹ 92,048.19 RECEIVE 1. CIPLA MORGAN STANLEY TO JP MORGAN ₹ -92,048.19

₹ -190,000.00 PAY 2. AURBINDO P JP MORGAN TO MORGAN STANLEY ₹ 190,000.00
₹ -97,951.81 NET ₹ 97,951.81

MARCH 12,2025
1. CIPLA ₹ 1,354.00
2. AURBINDO 850
CHANGE % 1. CIPLA -6%
2. AURBINDO 8%

₹ -34,261.84 PAY 1. CIPLA MORGAN STANLEY TO JP MORGAN ₹ 34,261.84

₹ -45,569.62 PAY 2. AURBINDO P JP MORGAN TO MORGAN STANLEY ₹ 45,569.62
₹ -79,831.46 NET ₹ 79,831.46
AURBINDO PHARMA

BEARISH
BULLISH

PAY
PAY
NET

PAY
RECEIVE
NET
RECEIVE
RECEIVE
NET
 EQUITY SWAPS
Case 7. CONTRACT CDSL VS BSE SMALLCAP
JP Morgan
NOTIONAL VALUE 1 ₹ 1,500,000.00
NOTIONAL VALUE 2 ₹ 1,500,000.00
U/L ASSET 1. CDSL BULLISH
2. BSE SMALLCAP BEARISH
CONTRACT PERIOD 3 YEARS

MARCH 12,2022
JP MORGAN'S BOOKS 1. CDSL
2. BSE SMALLCA

MARCH 12,2023
1. CDSL
2. BSE SMALLCA

CHANGE % 1. CDSL
2. BSE SMALLCA

1. CDSL JP MORGAN TO MORGAN STANLEY ₹ 465,000.00 RECEIVE

2. BSE SMALL MORGAN STANLEY TO JP MORGAN ₹ 43,922.65 RECEIVE
₹ 508,922.65 NET

MARCH 12,2024
1. CDSL
2. BSE SMALLCA

CHANGE % 1. CDSL
2. BSE SMALLCA

1. CDSL JP MORGAN TO MORGAN STANLEY ₹ 358,778.63 RECEIVE

2. BSE SMALL MORGAN STANLEY TO JP MORGAN ₹ -68,582.81 PAY
₹ 290,195.81 NET

MARCH 12,2025
1. CDSL
2. BSE SMALLCA
 CHANGE % 1. CDSL
2. BSE SMALLCA

1. CDSL JP MORGAN TO MORGAN STANLEY ₹ -103,490.76 PAY

2. BSE SMALL MORGAN STANLEY TO JP MORGAN ₹ -155,660.38 PAY
₹ -259,151.14 NET
ITY SWAPS
CONTRACT CDSL VS BSE SMALLCAP
MORGAN STANLEY
NOTIONAL VALUE 1 ₹ 1,500,000.00
NOTIONAL VALUE 2 ₹ 1,500,000.00
U/L ASSET 1. CDSL BEARISH
2. BSE SMALLCAP BULLISH
CONTRACT PERIOD 3 YEARS

MARCH 12,2022
₹ 1,500.00 MORGAN STANLEY'S BOOKS
₹ 27,150.00

MARCH 12,2023
₹ 1,965.00
₹ 26,355.00

31%
-3%

1. CDSL MORGAN STANLEY TO JP MORGAN ₹ -465,000.00 PAY

2. BSE SMALLCAP JP MORGAN TO MORGAN STANLEY ₹ -43,922.65 PAY
₹ -508,922.65 NET

MARCH 12,2024
₹ 2,435.00
₹ 27,560.00

24%
4.57%

1. CDSL MORGAN STANLEY TO JP MORGAN ₹ -358,778.63 PAY

2. BSE SMALLCAP JP MORGAN TO MORGAN STANLEY ₹ 68,582.81 RECEIVE
₹ -290,195.81 NET

MARCH 12,2025
₹ 2,267.00
₹ 30,420.00
 -7%
10%

1. CDSL MORGAN STANLEY TO JP MORGAN ₹ 103,490.76 RECEIVE

2. BSE SMALLCAP JP MORGAN TO MORGAN STANLEY ₹ 155,660.38 RECEIVE
₹ 259,151.14 NET
 E
Case 8. CONTRACT PIDILITE VS CAMS
JP Morgan
NOTIONAL VALUE 1 ₹ 700,000.00
NOTIONAL VALUE 2 ₹ 700,000.00
U/L ASSET 1. PIDILITE BULLISH
2. CAMS BEARISH
CONTRACT PERIOD 3 YEARS

JP MORGAN'S BOOKS

1. PIDILITE JP MORGAN TO MORGAN STANLEY

2. CAMS MORGAN STANLEY TO JP MORGAN

1. PIDILITE JP MORGAN TO MORGAN STANLEY

2. CAMS MORGAN STANLEY TO JP MORGAN
1. PIDILITE JP MORGAN TO MORGAN STANLEY
2. CAMS MORGAN STANLEY TO JP MORGAN
 EQUITY SWAPS
CONTRACT PIDILITE VS CAMS
MORGAN STANLEY
NOTIONAL VALUE 1 ₹ 700,000.00
NOTIONAL VALUE 2 ₹ 700,000.00
U/L ASSET 1. PIDILITE
2. CAMS
CONTRACT PERIOD 3 YEARS

MARCH 12,2022
1. PIDILITE ₹ 2,300.00 MORGAN STANLEY'S BOOKS
2. CAMS ₹ 2,500.00

MARCH 12,2023
1. PIDILITE ₹ 2,860.00
2. CAMS ₹ 2,335.00

CHANGE % 1. PIDILITE 24%

2. CAMS -7%

₹ 170,434.78 RECEIVE 1. PIDILITE MORGAN STANLEY TO JP MORGAN ₹ -170,434.78

₹ 46,200.00 RECEIVE 2. CAMS JP MORGAN TO MORGAN STANLEY ₹ -46,200.00
₹ 216,634.78 NET ₹ -216,634.78

MARCH 12,2024
1. PIDILITE ₹ 3,150.00
2. CAMS ₹ 2,755.00

CHANGE % 1. PIDILITE 10%

2. CAMS 17.99%

₹ 70,979.02 RECEIVE 1. PIDILITE MORGAN STANLEY TO JP MORGAN ₹ -70,979.02

₹ -125,910.06 PAY 2. CAMS JP MORGAN TO MORGAN STANLEY ₹ 125,910.06
₹ -54,931.04 NET ₹ 54,931.04

MARCH 12,2025
1. PIDILITE ₹ 2,990.00
2. CAMS 3425
CHANGE % 1. PIDILITE -5%
2. CAMS 24%

₹ -35,555.56 PAY 1. PIDILITE MORGAN STANLEY TO JP MORGAN ₹ 35,555.56

₹ -170,235.93 PAY 2. CAMS JP MORGAN TO MORGAN STANLEY ₹ 170,235.93
₹ -205,791.49 NET ₹ 205,791.49
ILITE VS CAMS

BEARISH
BULLISH

PAY
PAY
NET

PAY
RECEIVE
NET
RECEIVE
RECEIVE
NET
 EQUITY SWAPS
Case 9. CONTRACT SBI VS NIFTY BANK
JP Morgan
NOTIONAL VALUE 1 ₹ 1,500,000.00
NOTIONAL VALUE 2 ₹ 1,500,000.00
U/L ASSET 1. SBI BULLISH
2. NIFTYBANK BEARISH
CONTRACT PERIOD 3 YEARS

MARCH 12,2022
JP MORGAN'S BOOKS 1. SBI
2. NIFTYBANK

MARCH 12,2023
1. SBI
2. NIFTYBANK

CHANGE % 1. SBI
2. NIFTYBANK

1. SBI JP MORGAN TO MORGAN STANLEY ₹ 270,000.00 RECEIVE

2. NIFTYBANK MORGAN STANLEY TO JP MORGAN ₹ 92,826.09 RECEIVE
₹ 362,826.09 NET

MARCH 12,2024
1. SBI
2. NIFTYBANK

CHANGE % 1. SBI
2. NIFTYBANK

1. SBI JP MORGAN TO MORGAN STANLEY ₹ 343,220.34 RECEIVE

2. NIFTYBANK MORGAN STANLEY TO JP MORGAN ₹ -148,540.09 PAY
₹ 194,680.25 NET

MARCH 12,2025
1. SBI
2. NIFTYBANK
 CHANGE % 1. SBI
2. NIFTYBANK

1. SBI JP MORGAN TO MORGAN STANLEY ₹ -196,551.72 PAY

2. NIFTYBANK MORGAN STANLEY TO JP MORGAN ₹ -59,249.37 PAY
₹ -255,801.09 NET
ITY SWAPS
CONTRACT SBI VS NIFTY BANK
MORGAN STANLEY
NOTIONAL VALUE 1 ₹ 1,500,000.00
NOTIONAL VALUE 2 ₹ 1,500,000.00
U/L ASSET 1. SBI BEARISH
2. NIFTYBANK BULLISH
CONTRACT PERIOD 3 YEARS

MARCH 12,2022
₹ 500.00 MORGAN STANLEY'S BOOKS
₹ 34,500.00

MARCH 12,2023
₹ 590.00
₹ 32,365.00

18%
-6%

1. SBI MORGAN STANLEY TO JP MORGAN ₹ -270,000.00 PAY

2. NIFTYBANK JP MORGAN TO MORGAN STANLEY ₹ -92,826.09 PAY
₹ -362,826.09 NET

MARCH 12,2024
₹ 725.00
₹ 35,570.00

23%
9.90%

1. SBI MORGAN STANLEY TO JP MORGAN ₹ -343,220.34 PAY

2. NIFTYBANK JP MORGAN TO MORGAN STANLEY ₹ 148,540.09 RECEIVE
₹ -194,680.25 NET

MARCH 12,2025
₹ 630.00
₹ 36,975.00
 -13%
4%

1. SBI MORGAN STANLEY TO JP MORGAN ₹ 196,551.72 RECEIVE

2. NIFTYBANK JP MORGAN TO MORGAN STANLEY ₹ 59,249.37 RECEIVE
₹ 255,801.09 NET
 E
Case 10. CONTRACT IRCTC VS BPCL
JP Morgan
NOTIONAL VALUE 1 ₹ 600,000.00
NOTIONAL VALUE 2 ₹ 600,000.00
U/L ASSET 1. IRCTC BULLISH
2. BPCL BEARISH
CONTRACT PERIOD 3 YEARS

JP MORGAN'S BOOKS

1. IRCTC JP MORGAN TO MORGAN STANLEY

2. BPCL MORGAN STANLEY TO JP MORGAN

1. IRCTC JP MORGAN TO MORGAN STANLEY

2. BPCL MORGAN STANLEY TO JP MORGAN
1. IRCTC JP MORGAN TO MORGAN STANLEY
2. BPCL MORGAN STANLEY TO JP MORGAN
 EQUITY SWAPS
CONTRACT IRCTC VS BPCL
MORGAN STANLEY
NOTIONAL VALUE 1 ₹ 600,000.00
NOTIONAL VALUE 2 ₹ 600,000.00
U/L ASSET 1. IRCTC
2. BPCL
CONTRACT PERIOD 3 YEARS

MARCH 12,2022
1. IRCTC ₹ 750.00 MORGAN STANLEY'S BOOKS
2. BPCL ₹ 400.00

MARCH 12,2023
1. IRCTC ₹ 830.00
2. BPCL ₹ 355.00

CHANGE % 1. IRCTC 11%

2. BPCL -11%

₹ 64,000.00 RECEIVE 1. IRCTC MORGAN STANLEY TO JP MORGAN ₹ -64,000.00

₹ 67,500.00 RECEIVE 2. BPCL JP MORGAN TO MORGAN STANLEY ₹ -67,500.00
₹ 131,500.00 NET ₹ -131,500.00

MARCH 12,2024
1. IRCTC ₹ 945.00
2. BPCL ₹ 475.00

CHANGE % 1. IRCTC 14%

2. BPCL 33.80%

₹ 83,132.53 RECEIVE 1. IRCTC MORGAN STANLEY TO JP MORGAN ₹ -83,132.53

₹ -202,816.90 PAY 2. BPCL JP MORGAN TO MORGAN STANLEY ₹ 202,816.90
₹ -119,684.37 NET ₹ 119,684.37

MARCH 12,2025
1. IRCTC ₹ 885.00
2. BPCL 535
CHANGE % 1. IRCTC -6%
2. BPCL 13%

₹ -38,095.24 PAY 1. IRCTC MORGAN STANLEY TO JP MORGAN ₹ 38,095.24

₹ -75,789.47 PAY 2. BPCL JP MORGAN TO MORGAN STANLEY ₹ 75,789.47
₹ -113,884.71 NET ₹ 113,884.71
CTC VS BPCL

BEARISH
BULLISH

PAY
PAY
NET

PAY
RECEIVE
NET
RECEIVE
RECEIVE
NET