Starting November 20, 2024 until April 1, 2025, SEBI introduced a set of seven measures for the futures and options market. They included:
| Measures | Effective From |
| Rationalisation of Weekly Index Derivative Products | November 20, 2024 |
| Increase in tail risk coverage on options expiry day | November 20, 2024 |
| Increased Contract Size For Index Derivatives | January 2, 2025 |
| Rationalisation of Monthly Index Derivative Products | January 2025 |
| Upfront Collection of Option Premium from Buyers | February 10, 2025 |
| Removal Of Calendar Spread Treatment On Expiry | February 10, 2025 |
| Intraday Monitoring Of Position Limits | April 1, 2025 |
As a result, between the third and fourth quarter of financial year 2025, the number of traders within the Equity Derivatives Space fell to 42.7 lakh from 53.5 lakh.
The net loss made by traders during this period also narrowed to ₹24,745 crore from ₹33,661 crore.At the end of the fourth quarter, the percentage of loss-making traders stood at 86.4% from 88.5% earlier, while the average loss per trader also declined to ₹57,920 from ₹62,975 in the third quarter, according to the SEBI study.
| Quarter | % Loss Making | Average Loss Per Trader (₹) |
| Q1 FY25 | 84.5 | 34,606 |
| Q2 fy25 | 86.3 | 43,847 |
| Q3 FY25 | 88.5 | 62,975 |
| Q4 FY25 | 86.4 | 57,920 |
Post the introduction of these measures, the number of unique traders across categories has also see a decline. Between December 2024 to May 2025, the number of traders with a traded value of less than ₹10,000, fell by 30% when compared to December 2023 to May 2024. Other segments also witnessed losses.
| Traded Value | Change (YoY) |
| < ₹10,000 | -30% |
| ₹10,000 – ₹1 Lakh | -22% |
| ₹ 1 lakh – ₹ 10 lakh | -24% |
| ₹10 Lakh – ₹1 Crore | -14% |
| ₹1 Crore – ₹10 Crore | -4% |
| > ₹10 Crore | -11% |
Despite this decline, the SEBI study maintains that India continues to see relatively very high activity within the equity derivatives market, in comparison to other countries.
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