NATIONAL COMMODITY & DERIVATIVES EXCHANGE LIMITED
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1 NATIONAL COMMODITY & DERIVATIVES EXCHANGE LIMITED Circular to all trading and clearing members of the Exchange Circular No : NCDEX/TRADING-164/2014/342 Date : October 30, 2014 Subject : Modification in contract specifications Chilli Teja (CHILLI) futures contract Trading and Clearing Members are requested to note that the Exchange, as per the Bye-laws, Rules and Regulations of the Exchange and with the approval of the Forward Markets Commission, has modified the contract specification in the Chill Teja futures contract (Symbol: CHILLI) expiring in the months of March 2015 and thereafter. The contract expiring in the months of March 2015, April 2015 and June 2015 will be available for trading from November 03, Contracts for further expiries will be launched as per the enclosed contract launch calendar. The futures contract to be launched on November 03, 2014 shall be additionally governed by the Product Note as is notified on the Exchange Website under the Tab Products. Members and Participants are requested to kindly go through the same and get acquainted with the product launched and its trading and related process put in place by the Exchange. Currently, Chilli Teja futures contracts (Symbol: CHILLI) expiring in November 2014 and December 2014 are available for trading and would continue to be traded as per existing contract specifications. Summary of modifications in contract specifications for Chilli Teja futures contract expiring in March 2015 and thereafter is given in Annexure I. Existing Contract specifications applicable for Chilli Teja futures contract (Symbol: CHILLI) expiring in November 2014 and December 2014 are given in Annexure II. Modified contract specifications applicable for Chilli Teja futures contract (Symbol: CHILLI) expiring in March 2015 and thereafter are given in Annexure III. Location premium/ discount for the contract expiring in March 2015, April 2015 and June 2015 are provided in Annexure IV. 1 / 21
2 The contracts and the transactions therein will be subject to Rules, Bye Laws and Regulations of the Exchange and circulars issued by the Exchange as well as directives, if any, issued from time to time by the Forward Markets Commission. It is clarified that it is the sole obligation and responsibility of the Members and market participants to ensure that apart from the approved quality standards stipulated by the Exchange, the commodity deposited / traded / delivered through the approved warehouses of Exchange is in due compliance with the applicable regulations laid down by authorities like Food Safety Standard Authority of India, AGMARK, BIS, etc. as also other State/Central laws and authorities issuing such regulations in this behalf from time to time, including but not limited to compliance of provisions and rates relating to Sales Tax, Value Added Tax, APMC Tax, Mandi Tax, LBT, Octroi, Excise duty, stamp duty, etc. as applicable from time to time on the underlying commodity of any contract offered for deposit / trading / delivery and the Exchange shall not be responsible or liable on account of any non-compliance thereof. For and on behalf of National Commodity & Derivatives Exchange Limited Avinash Mohan Executive Vice President Exchange Operations For further information / clarifications, please contact 1. Mr. Shivaprithivi/ Mr. Sachin Purwar on Phone (91) , (040) / (91) Customer Service Group on toll free number: Customer Service Group by to : askus@ncdex.com 2 / 21
3 Annexure-I Summary of the modifications in contract specifications Chilli Teja futures contracts: Parameter Basis Delivery Center Additional Delivery Center Delivery Mechanism Existing Contract Specification Chilli (Paala) traded as Teja delivery to the Seller s specified / nominated warehouse Khammam exclusive of Sales Tax / VAT Khammam (up to the radius of 50 Kms from the municipal limits) Guntur (up to the radius of 50 Kms from the municipal limits) Location Premium/ Discount as notified by the Exchange from time to time. Direct Delivery Tender Period Tender Date T Tender Period: The tender period shall start on 11th of every month in which the contract is due to expire. In case 11th happens to be a Saturday, a Sunday or a holiday at the Exchange, the tender period would start from the next working day. Modified Contract Specification Chilli Teja Guntur exclusive of Sales Tax/VAT Guntur (up to the radius of 50 Kms from the municipal limits) Khammam (up to the radius of 50 Kms from the municipal limits) Location Premium/ Discount as notified by the Exchange from time to time. Not Applicable Tender Date T Tender Period: The tender period shall start on 11th of every month in which the contract is due to expire. In case 11th happens to be a Saturday, a Sunday or a holiday at the Exchange, the tender period would start from the next working day. Pay-in and Pay-out: If the tender date is T then, Funds Pay In happens at T+2, and Pay Out happens at T+8. If any such day happens to be a Saturday, a Sunday or a holiday at the Exchange, clearing banks or any of the service providers, Pay-In/ Pay- Pay-in and Pay-out: On a T+2 basis. If the tender date is T, then pay-in and payout would happen on T+2 day (excluding Saturday). If such a T+2 day happens to be a Saturday, a Sunday or a holiday at the exchange, clearing banks or any of the service providers, 3 / 21
4 Closing contract of Out would be effected on the next working day. Clearing and settlement of contracts will commence with the commencement of Tender Period by compulsory delivery of each open position tendered by the seller between T+3 to T+7 to the corresponding buyer matched by the process put in place by the Exchange. pay-in and pay-out would be effected in the next working day. Clearing and settlement of contracts will commence with the commencement of Tender Period by compulsory delivery of each open position tendered by the seller on T + 2 to the corresponding buyer matched by the process put in place by the Exchange. In case the seller does not mark delivery intention before expiry of the contract, it would be deemed as sellers default and positions would get closed out. Upon the expiry of the contract all the outstanding open position shall result in compulsory delivery. Delivery specification Upon the expiry of the contract all the outstanding open position shall result in compulsory delivery. During the Tender period, if any delivery is tendered by the seller, the corresponding buyer having open position and matched as per process put in place by the Exchange, shall be bound to settle by taking physical delivery. Upon expiry of the contracts all the outstanding open positions shall result in compulsory delivery. During the Tender period, if any delivery is tendered by seller, the corresponding buyer having open position and matched as per process put in place by the Exchange, shall be bound to settle by taking delivery on T + 2 day from the delivery center where the seller has delivered same. The penalty structure for failure to meet delivery obligations will be as per circular no. NCDEX/ TRADING-086/2008/216 dated 4 / 21
5 Special Margin Special margin of 5% of the value of the contract will be levied whenever the rise or fall in price exceeds 20% of the 90-day prior settlement price. The margin will be payable by the buyer or the seller depending on whether price rises or falls respectively. The margins shall remain in force so long as the price stays beyond the 20% limit and will be withdrawn as soon as the price is within the 20% band. September 16, 2008 and NCDEX/CLEARING- 021/2014/271 dated September 09, In case of unidirectional price movement/ increased volatility, an additional/ special margin at such other percentage, as deemed fit by the Regulator /Exchange, may be imposed on the buy and the sell side or on either of the buy or sell sides in respect of all outstanding positions. Reduction/ removal of such additional/ special margins shall be at the discretion of the Regulator /Exchange 5 / 21
6 Annexure-II Existing Contract Specification Chilli Teja futures contract (Applicable for contracts expiring in November 2014 and December 2014) Type of Contract Name of commodity Ticker symbol Trading system Basis Unit of trading Delivery unit Futures Contract Chilli Teja CHILLI NCDEX Trading System Chilli (Paala) traded as Teja delivery to the Seller s specified / nominated warehouse Khammam exclusive of Sales Tax/VAT 5 MT 5 MT Maximum order 250 MT size Quotation/Base Rs. Per Quintal value Tick size Rs. 2 Chilli Teja Colour Bright Red Length Not less than 4 cms Chillies less than 4 cms will be allowed to a maximum of 5% by weight Quality specification Moisture should not be more than 11% Foreign matter should not be more than 1% Broken Chillies should not be more than 3.5%* Loose seeds should not be more than 0.9%** Unripe and marked fruits should not be more than 1.9%** Insect damaged matter should not be more than 1% Capsaicin content should not be less than 60,000 SHU *Tolerance up to 0.5% of the above limit only in the outbound deliveries will be allowed; 6 / 21
7 **Tolerance up to 0.1% of the above limit only in the outbound deliveries will be allowed Quantity variation Delivery center Additional delivery centre Hours of Trading Delivery Logic Opening of contracts Tender Period Delivery Mechanism +/- 2% Khammam (up to the radius of 50 Kms from the municipal limits) Guntur (up to the radius of 50 Kms from the municipal limits) Location Premium/ Discount as notified by the Exchange from time to time. As per directions of the Forward Markets Commission from time to time, currently: Mondays through Fridays: 10:00 a. m. to 5:00 p.m. The Exchange may vary the above timing with due notice. Compulsory Delivery Trading in any contract month will open on the 1 st day of the month. If 1 st happens to be a non-trading day, contracts would open on the next trading day Tender Date T Tender Period: The tender period shall start on 11 th of every month in which the contract is due to expire. In case 11 th happens to be a Saturday, a Sunday or a holiday at the Exchange, the tender period would start from the next working day. Pay-in and Pay-out: If the tender date is T then, Funds Pay In happens at T+2, and Pay Out happens at T+8. If any such day happens to be a Saturday, a Sunday or a holiday at the Exchange, clearing banks or any of the service providers, Pay-In/ Pay-Out would be effected on the next working day. Direct Delivery 7 / 21
8 Closing of contract Clearing and settlement of contracts will commence with the commencement of Tender Period by compulsory delivery of each open position tendered by the seller between T+3 to T+7 to the corresponding buyer matched by the process put in place by the Exchange. In case the seller does not mark delivery intention before expiry of the contract, it would be deemed as sellers default and positions would get closed out. Upon the expiry of the contract all the outstanding open position shall result in compulsory delivery. Expiry date of the contract: Due date/expiry date Delivery Specification Final Settlement Price No. of active contracts 20th day of the delivery month. If 20th happens to be a holiday, a Saturday or a Sunday then the due date shall be the immediately preceding trading day of the Exchange, which is other than a Saturday. The settlement of contract would be by a staggered system of Pay-in and Pay-out including the Last Pay- in and Pay-out which would be the Final Settlement of the contract. During the Tender period, if any delivery is tendered by seller, the corresponding buyer having open position and matched as per process put in place by the Exchange, shall be bound to settle by taking physical delivery. The Final Settlement Price (FSP) shall be arrived at by taking the simple average of the last polled spot prices of the last three trading days viz., E0 (expiry day), E-1 and E-2. In the event of the spot prices for any one of the E-1 and E-2 is not available; the spot price of E-3 would be used for arriving at the average. In case the spot prices are not available for both E-1 and E-2, then the average of E0 and E-3 (two days) would be taken. If all the three days prices viz., E-1, E-2 and E-3 are not available, then only one day s price viz., E0 will be taken as the FSP. As per Launch calendar 8 / 21
9 Daily price fluctuation limit Daily price limit will be 2%. If the trade hits the prescribed daily price limit there will be a cooling off period for 15 minutes. Trade will be allowed during this cooling off period within the price band. Thereafter, price limit would be extended by another (+/-) 2%. No trade would be permitted during the day beyond the price limit (+/-) 4% from the previous day s closing price. Member: Maximum of 12,500 MT for all contracts or 15% of market open position whichever is higher Client: Maximum of 2,500 MT for all contracts The above limits will not apply to bona fide hedgers. For bona fide hedgers, the Exchange will, on case to case basis decide the hedge limits. Please refer to Circular No. NCDEX/CLEARING-018/2014/228 dated July 22, Position limits For near month contracts: The following limits would be applicable from 1st of every month in which the contract is due to expire. If 1 st happens to be a non-trading day, the near month limits would start from the next trading day Member: Maximum of 4,000 MT or 15% of market wide near month open position whichever is higher Special margins Minimum Initial margin Client: Maximum of 800 MT Special margin of 5% of the value of the contract will be levied whenever the rise or fall in price exceeds 20% of the 90-day prior settlement price. The margin will be payable by the buyer or the seller depending on whether price rises or falls respectively. The margins shall remain in force so long as the price stays beyond the 20% limit and will be withdrawn as soon as the price is within the 20% band. 5% 9 / 21
10 Tolerance limit for outbound deliveries: Commodity Specifications Basis Acceptable quality range as per contract specifications Permissible Tolerance Quality Teja - - Colour Bright Red - - Length Not less than 4 cms Chillies less than 4 cm will be allowed 5% max weight - - Moisture 11% Max - - Foreign matter 1% Max - - Broken Chillies 3.5% Max % Loose seeds 0.9% Max - +/-0.1% Unripe and marked fruits 1.9% - +/- 0.1% Max Loss (for all the characteristics) +/- 0.5% 10 / 21
11 Delivery mechanism (Direct Delivery Sellers Warehouse Model) Salient Features 1. The proposed direct delivery mechanism, exactly replicates that in the physical market, and essentially requires the allocated buyer, to arrange for assaying by Exchange approved assayer, at the seller s warehouse, and lift goods directly from there. 2. Goods tendered by a seller, should be from a cold storage, would necessarily have to be assayed & lifted by buyer if found within the specifications by the Assayer. 3. All Premium/ Discount related to quality, based on the report of the Exchange approved assayer, would be applicable 4. In case the goods tendered for delivery, on assaying, fails to conform to the tenderable range of contract specifications, it would constitute a Seller s default. 5. The process would not involve any kind of deposit in Exchange approved warehouses, and therefore no Validity, FED or Standard Deductions would be applicable. T+1 1. The details of allocation displayed to buyers and sellers so that required information can be updated. 2. Exchange will allot an empanelled assayer to the respective buyer upon the tender and the buyer has to compulsorily get the goods assayed by the allotted assayer. 3. The appointed assayer would have to confirm his availability by T/E+1. If he doesn t confirm, then another assayer would be appointed. T+2 1. Pay in of funds from allocated Buyers on basis grade 2. Seller will give details of warehouse at delivery location (within 50 km radius) 11 / 21
12 3. Buyer will give details for tax settlement, and correspondence address 4. Seller will give details for correspondence address T+3 to T+7 Assaying and Lifting Period 1. Depending on the total allocated quantity, Assayer will inform both the buyer and seller of the delivery schedule, so that the assaying results are available to Exchange latest by EOD on T Buyer will lift the goods from the seller s informed location. 3. All Buyers who have been allocated deliveries would necessarily have to assay & lift the goods, if found within the specifications by the Assayer, and follow the process as prescribed by the Exchange, and bear all costs associated with it. In case the buyer fails to lift goods by E+7, it will be considered as Buyer s default to the extent of goods not lifted and applicable penalties shall be levied. 4. Assayer will be present at seller s informed location, according to the delivery schedule, and will conduct assaying of goods. 5. Assayer will upload the report of quality and quantity of goods and accordingly accept/reject the goods, as per Exchange specified quality norms. 6. Buyer will give necessary details to the exchange for tax settlement. 7. Seller & Buyer or their representatives have an option to supervise the assaying process. 8. Assayer will give final confirmation for delivery. 9. The entire process needs to be completed by T+7 EOD. 10. All risk and costs associated with storage of goods in the Seller s warehouse, for the entire duration of assaying, i.e. till the time settlement is completed, would be borne by the Seller. T+8 (Pay Out) Case 1 the goods are accepted Pay out to seller 12 / 21
13 Tax details will be passed on to Seller to be updated Case 2 the goods are rejected This will be considered as Seller s default and applicable penalties shall be levied T+9 Settlement of Tax Seller issues Invoice Delivery Defaults Seller s Default-This could happen under the following situations Case 1: Seller does not mark delivery intention before expiry of the contract Case 2: Seller fails to deliver goods after giving an intention and allocation Case 3: The lot delivered by Seller fails on assaying Case 4: The lot assayed by the buyer with an Exchange approved assayer, and stack locked subsequently, if later found to have been tampered or damaged in any way, at the day of lifting Case 5: If the lots could not be lifted by the Buyer within the stipulated time frame, due to established issues at the Seller s end, then penalty for the proportionate unlifted lots would be imposed on Seller In case of seller default, the prescribed penalty will be 3% and will be used as under; a) 1.75 % component of the penalty shall be deposited in the Settlement Guarantee Fund of the Exchange; b) 1 % component of the penalty shall go to the Buyer who was entitled to receive delivery; and c) Balance 0.25 % component of penalty shall be retained by the Exchange towards administrative expenses. d) This penalty shall be settled on T+8 13 / 21
14 The difference between the Final Settlement Price (FSP) and the average of three highest of the last spot prices of 8 (Eight) succeeding days after the expiry of contract (T+ 1 to T +8 days), if the average spot price so determined is higher than FSP will also be charged to the seller. This differential penalty shall be settled on T+9 and will go to the buyer. Buyer s Default - This could happen under the following situations Case1: Buyer fails to get assaying done within the stipulated time frame, i.e. if the report is not submitted by EOD on T+7 for whatsoever reasons Case 2: Buyer fails to lift some or all of the lots within lifting period (T+3 to T+7) the buyer would be penalized and 3% penalty will be levied on buyer and will be used as under: a) 1.75 % component of the penalty shall be deposited in the Settlement Guarantee Fund of the Exchange; b) 1 % component of the penalty shall go to the Seller who was supposed to give delivery; and c) Balance 0.25 % component of penalty shall be retained by the Exchange towards administrative expenses d) This penalty shall be settled on T+8 The difference between the Final Settlement Price (FSP) and the average of three lowest of the last spot prices of 8 (Eight) succeeding days after the expiry of contract (T+ 1 to T +8 days), if the average spot price so determined is lower than FSP will also be charged from the buyer. This differential penalty shall be settled on T+9 and will go to the seller. The delivery pay-in taken from the buyer shall be refunded on T+8 in case of buyers default. The delivery pay-in taken from the buyer shall be refunded on T+8 in case of sellers default. 14 / 21
15 Contract Launch Calendar Contract Launch Month Contract Expiry Month July 2014 November 2014 August 2014 December / 21
16 Annexure-III Modified Contract Specification Chilli Teja futures contract (Applicable for contracts expiring in March 2015 and thereafter) Type of Contract Name of commodity Ticker symbol Futures Contract Chilli Teja CHILLI Trading system NCDEX Trading System Basis Unit of trading Delivery unit Chilli Teja Guntur exclusive of Sales Tax/VAT 5 MT 5 MT Maximum order size Quotation/Base value 250 MT Tick size Rs. 2 Rs. Per Quintal Quality specification Chilli Teja Colour Bright Red Length Not less than 4 cms Chillies less than 4 cms will be allowed to a maximum of 5% by weight Moisture should not be more than 11% Foreign matter should not be more than 1% Broken Chillies should not be more than 3.5%* Loose seeds should not be more than 0.9%** Unripe and marked fruits should not be more than 1.9%** Insect damaged matter should not be more than 1% Capsaicin content should not be less than 60,000 SHU *Tolerance up to 0.5% of the above limit only in the outbound deliveries will be allowed; Quantity variation **Tolerance up to 0.1% of the above limit only in the outbound deliveries will be allowed +/- 2% 16 / 21
17 Delivery center Additional delivery centre Hours of Trading Delivery Logic Opening of contracts Tender Period Guntur (up to the radius of 50 Kms from the municipal limits) Khammam (up to the radius of 50 Kms from the municipal limits) Location Premium/ Discount as notified by the Exchange from time to time. As per directions of the Forward Markets Commission from time to time, currently: Mondays through Fridays: 10:00 a. m. to 5:00 p.m. The Exchange may vary the above timing with due notice. Compulsory Delivery Trading in any contract month will open on the 1 st day of the month. If 1 st happens to be a non-trading day, contracts would open on the next trading day Tender Date T Tender Period: The tender period shall start on 11 th of every month in which the contract is due to expire. In case 11 th happens to be a Saturday, a Sunday or a holiday at the Exchange, the tender period would start from the next working day. Pay-in and Pay-out: On a T+2 basis. If the tender date is T, then pay-in and payout would happen on T+2 day (excluding Saturday). If such a T+2 day happens to be a Saturday, a Sunday or a holiday at the Exchange, clearing banks or any of the service providers, pay-in and pay-out would be effected in the next working day. Closing of contract Clearing and settlement of contracts will commence with the commencement of Tender Period by compulsory delivery of each open position tendered by the seller on T + 2 to the corresponding buyer matched by the process put in place by the Exchange. Upon the expiry of the contract all the outstanding open position shall result in compulsory delivery. Expiry date of the contract: Due date / Expiry date 20th day of the delivery month. If 20th happens to be a holiday, a Saturday or a Sunday then the due date shall be the immediately preceding trading day of the Exchange, which is other than a Saturday. 17 / 21
18 The settlement of contract would be by a staggered system of Pay-in and Pay-out including the Last Pay- in and Pay-out which would be the Final Settlement of the contract. Upon expiry of the contracts all the outstanding open positions shall result in compulsory delivery. Delivery Specification During the Tender period, if any delivery is tendered by seller, the corresponding buyer having open position and matched as per process put in place by the Exchange, shall be bound to settle by taking delivery on T + 2 day from the delivery center where the seller has delivered same. Final Settlement Price No. of active contracts Daily price fluctuation limit The penalty structure for failure to meet delivery obligations will be as per circular no. NCDEX/ TRADING-086/2008/216 dated September 16, 2008 and NCDEX/CLEARING- 021/2014/271 dated September 09, The Final Settlement Price (FSP) shall be arrived at by taking the simple average of the last polled spot prices of the last three trading days viz., E0 (expiry day), E-1 and E-2. In the event of the spot prices for any one of the E-1 and E-2 is not available; the spot price of E-3 would be used for arriving at the average. In case the spot prices are not available for both E-1 and E-2, then the average of E0 and E-3 (two days) would be taken. If all the three days prices viz., E-1, E-2 and E-3 are not available, then only one day s price viz., E0 will be taken as the FSP. As per Launch calendar Daily price limit will be 2%. If the trade hits the prescribed daily price limit there will be a cooling off period for 15 minutes. Trade will be allowed during this cooling off period within the price band. Thereafter, price limit would be extended by another (+/-) 2%. No trade would be permitted during the day beyond the price limit (+/-) 4% from the previous day s closing price. 18 / 21
19 Member: Maximum of 12,500 MT for all contracts or 15% of market open position whichever is higher Client: Maximum of 2,500 MT for all contracts The above limits will not apply to bona fide hedgers. For bona fide hedgers, the Exchange will, on case to case basis decide the hedge limits. Please refer to Circular No. NCDEX/CLEARING-018/2014/228 dated July 22,2014. Position limits For near month contracts: The following limits would be applicable from 1st of every month in which the contract is due to expire. If 1 st happens to be a non-trading day, the near month limits would start from the next trading day Special margins Minimum Initial margin Member: Maximum of 4,000 MT or 15% of market wide near month open position whichever is higher Client: Maximum of 800 MT In case of unidirectional price movement/ increased volatility, an additional/ special margin at such other percentage, as deemed fit by the Regulator/Exchange, may be imposed on the buy and the sell side or on either of the buy or sell sides in respect of all outstanding positions. Reduction/ removal of such additional/ special margins shall be at the discretion of the Regulator/Exchange 5% Tolerance limit for outbound deliveries: Commodity Specifications Basis Acceptable quality range as per contract specifications Permissible Tolerance Quality Teja - - Colour Bright Red - - Length Not less than 4 cms / 21
20 Chillies less than 4 cm will be allowed 5% max weight - - Moisture 11% Max - - Foreign matter 1% Max - - Broken Chillies 3.5% Max % Loose seeds 0.9% Max - +/-0.1% Unripe and marked 1.9% - +/- 0.1% fruits Max Loss (for all the characteristics) +/- 0.5% Continuous Contract Launch calendar Contract Launch month November 2014 Contract Expiry month March 2015, April 2015, June 2015 December 2014 July 2015 January 2015 February 2015 No Launch No Launch March 2015 August 2015 April 2015 September 2015 May 2015 No Launch June 2015 October 2015 July 2015 November 2015 August 2015 December / 21
21 Annexure-IV: Premium/ Discount for delivery location difference: Commodity (Base Centre) Addition Delivery Centre (+) Premium/ (-) Discount Chilli Teja (Guntur) Khammam No Premium/Discount 21 / 21
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Contract Specifications of Turmeric futures contract (Applicable for contracts expiring in the month of November 2016, December 2016 and April 2017)) Type of Contract Name of commodity Ticker symbol Trading
More information2. Existing contract specifications applicable for Turmeric (TMCFGRNZM) Futures contracts is given in Annexure II.
NATIONAL COMMODITY & DERIVATIVES EXCHANGE LIMITED Circular to all members of the Exchange Circular No : NCDEX/TRADING-008/2019 Date : March 22, 2019 Subject : Modifications in Contract Specifications of
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Contract Specification Turmeric futures contract (Applicable for contracts expiring in April 2014 and thereafter) Type of Contract Name of commodity Ticker symbol Trading system Basis Unit of trading Delivery
More informationThe contents of this product note are subject to Rules, Byelaws and Regulations of NCDEX as in force from time to time and be read therewith.
CHAPTER 1 - TRADING PARAMETERS... 2 Authority... 2 Unit of Trading... 2 Months Traded In... 2 Tick Size... 2 Basis Price... 2 Unit for Price Quotation... 2 Hours of Trading... 2 Last Day of Trading...
More informationThe above exchange rate will be used to arrive at the FSP of respective monthly contract. For example, August contract will be settled as;
NATIONAL COMMODITY & DERIVATIVES EXCHANGE LIMITED Circular to all trading and clearing members of the Exchange Circular No. : NCDEX/TRADING-080/2014/192 Date : June 19, 2014 Subject : Modification in contract
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Contract specification Mustard Seed Name of Commodity Ticker symbol Basis centre Unit of trading Delivery Type Delivery unit Price quotation Tick size Mustard Seed MUSTARD Ex-Warehouse Jaipur (inclusive
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Contract specification Mustard Seed Name of Commodity Ticker symbol Basis centre Unit of trading Delivery Type Delivery unit Price quotation Tick size Mustard Seed MUSTARD Ex-Warehouse Jaipur (inclusive
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... CHAPTER 1 - TRADING PARAMETERS... 3 Authority... 3 Unit of Trading... 3 Months Traded In... 3 Tick Size... 3 Basis Price... 3 Unit for Price Quotation... 3 Hours of Trading... 3 Last Day of Trading...
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CHAPTER 1 - TRADING PARAMETERS... 2 Authority... 2 Unit of Trading... 2 Months Traded In... 2 Tick Size... 2 Basis Price... 2 Unit for Price Quotation... 2 Hours of Trading... 2 Last Day of Trading...
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CONTENTS CHAPTER 1 - TRADING PARAMETERS... 4 Authority... 4 Unit of Trading... 4 Months Traded In... 4 Tick Size... 4 Basis Price... 4 Unit of Price Quotation... 4 Trading Hours... 4 Contract Expiry Date...
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More informationThe contents of this product note are subject to Rules, Byelaws and Regulations of NCDEX as in force from time to time and be read therewith.
CHAPTER 1 - TRADING PARAMETERS... 2 Authority... 2 Unit of Trading... 2 Months Traded In... 2 Tick Size... 2 Basis Price... 2 Unit for Price Quotation... 2 Hours of Trading... 2 Last Day of Trading...
More informationThe contents of this product note are subject to Rules, Byelaws and Regulations of NCDEX as in force from time to time and be read therewith.
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