National Spot Exchange Limited Circular

Transcription

1 National Spot Exchange Limited Circular Ref. No: NSEL/TRD/2012/224 December 10, 2012 Dear Members, Commencement of Spot Trading in Kapas (Raw Cotton) Farmers Contracts In terms of the provisions of the Rules, Bye-Laws and Business Rules of the Exchange, the Members of the Exchange are notified that Kapas (Raw Cotton) Farmers contracts for 6 (Six) delivery centers in Maharashtra will be launched for trading from Tuesday, the 11 th December Contracts details and settlement procedure are as under: 1) Contract Specifications and Details of Exchange Designated Ginning & Pressing Factory - enclosed as Annexure 1 to 6, 2) Settlement schedule, Quality Parameter, Charges and Delivery Process for All Kapas (Raw Cotton) Farmers Maharashtra (T+0) Contracts refer Circular No. NSEL/DEL/2012/192 dated 30th October The terms and conditions of the above referred contract and the process relating to the settlement thereof will be binding on all members of the Exchange and clients trading through them. For any clarification, the following Exchange officials can be contacted: 1) Mr. Siraj Pinjari at or th rough at siraj.pinjari@nationalspotexchange.com and 2) Mr. Pankaj Khambayat at or through at pankaj.khambayat@nationalspotexchange.com For and on behalf of National Spot Exchange Ltd. H. B. Mohanty Asst. Vice President Encl.: As above Registered office FT Tower, CTS No 256 & 257, 4th Floor, Suren Road, Chakala, Andheri (East), Mumbai Tel.: Fax: NSEL-Trading@nationalspotexchange.com

2 Annexure 1 Contract Specifications of Kapas (Raw Cotton) Farmer s Ex-Malkapur Dist. Buldana Contract Commodity Details Commodity Symbol Description Contract Specifications Daily contract Trading period Trading session UCC Code Kapas (Raw Cotton) FKMLKJAYMN Kapas (Raw Cotton) Malkapur Dist. Buldana, Jayman Textiles Pvt.Ltd delivery contract. Short Selling is Strictly Prohibited. All farmer sellers should possess commodities before giving sale order. Buying and selling on intra-day basis will be permitted, but all positions outstanding at end of trading session on the same day must result into compulsory delivery. Commodities should be deposited in the Exchange designated delivery center by farmer on the same date of execution of trade. Monday to Saturday except Exchange specified holidays Monday to Friday : 10:00 AM to 8:00 PM Saturday : 10:00 AM to 2:00 PM As unique Client Code (UCC) is made mandatory, both buyer and seller must ensure UCC client registration before entering order. Trading Related Parameters Trading unit Quotation / Base Value 1 Kg 1 quintal Tick size (minimum price movement) ` 1/- Daily price limits 10 % Price Quote Price per quintal Ex-NSEL designated factory exclusive of expenses, APMC Cess and taxes (Price of Raw Kapas at NSEL Designated Ginning & Pressing Factory delivery). Initial margin 1% Maximum Order Size Delivery Related Parameters 20 tons Deliverable Grade Maharashtra Kapas (Raw Cotton) Delivery unit Delivery Period Margin 10% 1 Qtl. and above in multiples of 1 Kg. The seller will be paid proportionately for the kapas delivered by him. Delivery center(s) Delivery Logic Packaging Weighment Settlement of Trades in case of default by parties: Exchange Designated Ginning & Pressing Factory in Malkapur Market Area. Compulsory Loose Kapas (Raw Cotton) Loose Kapas (Raw Cotton) weighed individually through Weigh scale. OR Kapas (Raw Cotton) arriving in loose form in trailers / trucks / carts can be weighed at weighbridge and treated as a single delivery unit. Farmer s sales their commodities on the assumption that the Ginning Pressing Factory (party) has inspected and approved the quality for which the rates are quoted.

3 In case of non-payment of funds obligation, entire security amount deposited by the party subject to maximum of sale value of un-lifted stocks shall stand forfeited. Out of the forfeited amount, 90% will be given to the seller and balance 10% shall be retained by the Exchange. However, in case 90% of the forfeited amount is lesser to compensate the loss to the seller as per the prevalent market price, the Buyer has to compensate the actual loss of seller for defaulted quantity. Details of Exchange Designated Ginning & Pressing Factory where Kapas can be accepted in Malkapur Market Area: Sr. No. Name of the Ginning & Pressing Factories Address of the Ginning & Pressing Factories. 1. Jayman Textiles Pvt. Ltd C/o. Panasian Impex Pvt. Ltd. Gate No.49/2, N.H. No.6 By pass Road, Malkapur Taluka Malkapur Dist. Buldana Maharashtra Malkapur APMC Area

4 Annexure 2 Contract Specifications of Kapas (Raw Cotton) Farmer s Ex-Phulambri Dist-Aurangabad Contract Commodity Details Commodity Symbol Description Contract Specifications Daily contract Trading period Trading session UCC Code Trading Related Parameters Trading unit Quotation / Base Value Kapas (Raw Cotton) FKPHLBARYA Kapas (Raw Cotton) Phulambri Dist. Aurangabad, Arya Cotton Company delivery contract. Short Selling is Strictly Prohibited. All farmer sellers should possess commodities before giving sale order. Buying and selling on intra-day basis will be permitted, but all positions outstanding at end of trading session on the same day must result into compulsory delivery. Commodities should be deposited in the Exchange designated delivery center by farmer on the same date of execution of trade. Monday to Saturday except Exchange specified holidays Monday to Friday : 10:00 AM to 8:00 PM Saturday : 10:00 AM to 2:00 PM As unique Client Code (UCC) is made mandatory, both buyer and seller must ensure UCC client registration before entering order. 1 Kg 1 quintal Tick size (minimum price ` 1/- movement) Daily price limits 10 % Price Quote Price per quintal Ex-NSEL designated factory exclusive of expenses, APMC Cess and taxes (Price of Raw Kapas at NSEL Designated Ginning & Pressing Factory delivery). Initial margin 1% Maximum Order Size 20 tons Delivery Related Parameters Deliverable Grade Maharashtra Kapas (Raw Cotton) Delivery unit 1 Qtl. And above in multiples of 1 Kg. The seller will be paid proportionately for the kapas delivered by him. Delivery Period Margin 10% Delivery center(s) Delivery Logic Packaging Weighment Settlement of Trades in case of default by parties: Exchange Designated Ginning & Pressing Factory in Phulambri Market Area. Compulsory Loose Kapas (Raw Cotton) Loose Kapas (Raw Cotton) weighed individually through Weigh scale. OR Kapas (Raw Cotton) arriving in loose form in trailers / trucks / carts can be weighed at weighbridge and treated as a single delivery unit. Farmer s sales their commodities on the assumption that the Ginning Pressing Factory (party) has inspected and approved the quality for which the rates are quoted.

5 In case of non-payment of funds obligation, entire security amount deposited by the party subject to maximum of sale value of un-lifted stocks shall stand forfeited. Out of the forfeited amount, 90% will be given to the seller and balance 10% shall be retained by the Exchange. However, in case 90% of the forfeited amount is lesser to compensate the loss to the seller as per the prevalent market price, the Buyer has to compensate the actual loss of seller for defaulted quantity. Details of Exchange Designated Ginning & Pressing Factory where Kapas can be accepted in Phulambri Market Area. Sr. No. Name of the Ginning & Pressing Factories Address of the Ginning & Pressing Factories. 1. Arya Cotton Company Gate No. 91 & 93 At post Lahanyachi Wadi Taluka Phulambri, Dist. Aurangabad Maharashtra Phulambri APMC Area

6 Annexure 3 Contract Specifications of Kapas (Raw Cotton) Farmer s Ex-Phulambri Dist. Aurangabad Contract Commodity Details Commodity Symbol Description Contract Specifications Daily contract Trading period Trading session UCC Code Trading Related Parameters Trading unit Quotation / Base Value Kapas (Raw Cotton) FKPHLBGDKR Kapas (Raw Cotton) Phulambri Dist. Aurangabad, Gadekar Ginning & Pressing Pvt. Ltd. Delivery contract. Short Selling is Strictly Prohibited. All farmer sellers should possess commodities before giving sale order. Buying and selling on intra-day basis will be permitted, but all positions outstanding at end of trading session on the same day must result into compulsory delivery. Commodities should be deposited in the Exchange designated delivery center by farmer on the same date of execution of trade. Monday to Saturday except Exchange specified holidays Monday to Friday : 10:00 AM to 8:00 PM Saturday : 10:00 AM to 2:00 PM As unique Client Code (UCC) is made mandatory, both buyer and seller must ensure UCC client registration before entering order. 1 Kg 1 quintal Tick size (minimum price ` 1/- movement) Daily price limits 10 % Price Quote Price per quintal Ex-NSEL designated factory exclusive of expenses, APMC Cess and taxes (Price of Raw Kapas at NSEL Designated Ginning & Pressing Factory delivery). Initial margin 1% Maximum Order Size Delivery Related Parameters Deliverable Grade Delivery unit 20 tons Delivery Period Margin 10% Delivery center(s) Delivery Logic Packaging Weighment Settlement of Trades in case of default by parties: Maharashtra Kapas (Raw Cotton) 1 Qtl. And above in multiples of 1 Kg. The seller will be paid proportionately for the kapas delivered by him. Exchange Designated Ginning & Pressing Factory in Phulambri Market Area. Compulsory Loose Kapas (Raw Cotton) Loose Kapas (Raw Cotton) weighed individually through Weigh scale. OR Kapas (Raw Cotton) arriving in loose form in trailers/trucks/carts can be weighed at weighbridge and treated as a single delivery unit. Farmer s sales their commodities on the assumption that the Ginning Pressing Factory (party) has inspected and approved the quality for which the rates are quoted.

7 In case of non-payment of funds obligation, entire security amount deposited by the party subject to maximum of sale value of un-lifted stocks shall stand forfeited. Out of the forfeited amount, 90% will be given to the seller and balance 10% shall be retained by the Exchange. However, in case 90% of the forfeited amount is lesser to compensate the loss to the seller as per the prevalent market price, the Buyer has to compensate the actual loss of seller for defaulted quantity. Details of Exchange Designated Ginning & Pressing Factory where Kapas can be accepted in Phulambri Market Area. Sr. No. Name of the Ginning & Pressing Factories Address of the Ginning & Pressing Factories. 1. Gadekar Ginning & Pressing Pvt. Ltd. Gate No. 367 Dongargaon (K) Taluka Phulambri Dist. Aurangabad Maharashtra Phulambri APMC Area

8 Annexure 4 Contract Specifications of Kapas (Raw Cotton) Farmer s Ex-Warud Dist Amravati Contract Commodity Details Commodity Symbol Description Contract Specifications Daily contract Trading period Trading session UCC Code Trading Related Parameters Trading unit Quotation / Base Value Kapas (Raw Cotton) FKWRUDGMTI Kapas (Raw Cotton) Warud Dist. Amravati, Gomati Ginning Industries delivery contract. Short Selling is Strictly Prohibited. All farmer sellers should possess commodities before giving sale order. Buying and selling on intra-day basis will be permitted, but all positions outstanding at end of trading session on the same day must result into compulsory delivery. Commodities should be deposited in the Exchange designated delivery center by farmer on the same date of execution of trade. Monday to Saturday except Exchange specified holidays Monday to Friday : 10:00 AM to 8:00 PM Saturday : 10:00 AM to 2:00 PM As unique Client Code (UCC) is made mandatory, both buyer and seller must ensure UCC client registration before entering order. 1 Kg 1 quintal Tick size (minimum price ` 1/- movement) Daily price limits 10 % Price Quote Price per quintal Ex-NSEL designated factory exclusive of expenses, APMC Cess and taxes (Price of Raw Kapas at NSEL Designated Ginning & Pressing Factory delivery). Initial margin 1% Maximum Order Size Delivery Related Parameters Deliverable Grade Delivery unit 20 tons Maharashtra Kapas (Raw Cotton) 1 Qtl. And above in multiples of 1 Kg. The seller will be paid proportionately for the kapas delivered by him. Delivery Period Margin 10% Delivery center(s) Exchange Designated Ginning & Pressing Factory in Warud Market Area. Delivery Logic Packaging Weighment Settlement of Trades in case of default by parties: Compulsory Loose Kapas (Raw Cotton) Loose Kapas (Raw Cotton) weighed individually through Weigh scale. OR Kapas (Raw Cotton) arriving in loose form in trailers / trucks / carts can be weighed at weighbridge and treated as a single delivery unit. Farmer s sales their commodities on the assumption that the Ginning Pressing Factory (party) has inspected and approved the quality for which the rates are quoted.

9 In case of non-payment of funds obligation, entire security amount deposited by the party subject to maximum of sale value of un-lifted stocks shall stand forfeited. Out of the forfeited amount, 90% will be given to the seller and balance 10% shall be retained by the Exchange. However, in case 90% of the forfeited amount is lesser to compensate the loss to the seller as per the prevalent market price, the Buyer has to compensate the actual loss of seller for defaulted quantity. Details of Exchange Designated Ginning & Pressing Factory where Kapas can be accepted in Warud Market Area. Sr. No. Name of the Ginning & Pressing Factories Address of the Ginning & Pressing Factories. 1. Gomati Ginning Industries. Gate No. 79 Shahapur, Amarvati Road Taluka Warud Dist.- Amravati Maharashtra Warud APMC Area

10 Annexure 5 Contract Specifications of Kapas (Raw Cotton) Farmer s Ex-Warud Dist Amravati Contract Commodity Details Commodity Symbol Description Contract Specifications Daily contract Trading period Trading session UCC Code Trading Related Parameters Trading unit Quotation / Base Value Kapas (Raw Cotton) FKWRUDTRPT Kapas (Raw Cotton) Warud Dist Amravati, Shree Tirupati Ginning Factory delivery contract. Short Selling is Strictly Prohibited. All farmer sellers should possess commodities before giving sale order. Buying and selling on intra-day basis will be permitted, but all positions outstanding at end of trading session on the same day must result into compulsory delivery. Commodities should be deposited in the Exchange designated delivery center by farmer on the same date of execution of trade. Monday to Saturday except Exchange specified holidays Monday to Friday : 10:00 AM to 8:00 PM Saturday : 10:00 AM to 2:00 PM As unique Client Code (UCC) is made mandatory, both buyer and seller must ensure UCC client registration before entering order. 1 Kg 1 quintal Tick size (minimum price ` 1/- movement) Daily price limits 10 % Price Quote Price per quintal Ex-NSEL designated factory exclusive of expenses, APMC Cess and taxes (Price of Raw Kapas at NSEL Designated Ginning & Pressing Factory delivery). Initial margin 1% Maximum Order Size Delivery Related Parameters 20 tons Deliverable Grade Maharashtra Kapas (Raw Cotton) Delivery unit 1 Qtl. And above in multiples of 1 Kg. The seller will be paid proportionately for the kapas delivered by him. Delivery Period Margin 10% Delivery center(s) Delivery Logic Packaging Weighment Settlement of Trades in case of default by parties: Exchange Designated Ginning & Pressing Factory in Warud Market Area. Compulsory Loose Kapas (Raw Cotton) Loose Kapas (Raw Cotton) weighed individually through Weigh scale. OR Kapas (Raw Cotton) arriving in loose form in trailers / trucks / carts can be weighed at weighbridge and treated as a single delivery unit. Farmer s sales their commodities on the assumption that the Ginning Pressing Factory (party) has inspected and approved the quality for which the rates are quoted.

11 In case of non-payment of funds obligation, entire security amount deposited by the party subject to maximum of sale value of un-lifted stocks shall stand forfeited. Out of the forfeited amount, 90% will be given to the seller and balance 10% shall be retained by the Exchange. However, in case 90% of the forfeited amount is lesser to compensate the loss to the seller as per the prevalent market price, the Buyer has to compensate the actual loss of seller for defaulted quantity. Details of Exchange Designated Ginning & Pressing Factory where Kapas can be accepted in Warud Market Area. Sr. No. Name of the Ginning & Pressing Factories Address of the Ginning & Pressing Factories. 1. Shree Tirupati Ginning Factory Roshankheda Taluka - Warud Dist.- Amravati Maharashtra Warud APMC Area

12 Annexure 6 Contract Specifications of Kapas (Raw Cotton) Farmer s Ex-Deoli Dist Wardha Contract Commodity Details Commodity Symbol Description Contract Specifications Daily contract Trading period Trading session UCC Code Trading Related Parameters Trading unit Quotation / Base Value Kapas (Raw Cotton) FKDEOLSKRI Kapas (Raw Cotton) Deoli Dist- Wardha, Shrikrishna Ginning & Pressing Factory delivery contract. Short Selling is Strictly Prohibited. All farmer sellers should possess commodities before giving sale order. Buying and selling on intra-day basis will be permitted, but all positions outstanding at end of trading session on the same day must result into compulsory delivery. Commodities should be deposited in the Exchange designated delivery center by farmer on the same date of execution of trade. Monday to Saturday except Exchange specified holidays Monday to Friday : 10:00 AM to 8:00 PM Saturday : 10:00 AM to 2:00 PM As unique Client Code (UCC) is made mandatory, both buyer and seller must ensure UCC client registration before entering order. 1 Kg 1 quintal Tick size (minimum price ` 1/- movement) Daily price limits 10 % Price Quote Price per quintal Ex-NSEL designated factory exclusive of expenses, APMC Cess and taxes (Price of Raw Kapas at NSEL Designated Ginning & Pressing Factory delivery). Initial margin 1% Maximum Order Size Delivery Related Parameters 20 tons Deliverable Grade Maharashtra Kapas (Raw Cotton) Delivery unit 1 Qtl. and above in multiples of 1 Kg. The seller will be paid proportionately for the kapas delivered by him. Delivery Period Margin 10% Delivery center(s) Delivery Logic Packaging Weighment Settlement of Trades in case of default by parties: Exchange Designated Ginning & Pressing Factory in Deoli Market Area. Compulsory Loose Kapas (Raw Cotton) Loose Kapas (Raw Cotton) weighed individually through Weigh scale. OR Kapas (Raw Cotton) arriving in loose form in trailers / trucks / carts can be weighed at weighbridge and treated as a single delivery unit. Farmer s sales their commodities on the assumption that the Ginning Pressing Factory (party) has inspected and approved the quality for which the rates are quoted.

13 In case of non-payment of funds obligation, entire security amount deposited by the party subject to maximum of sale value of un-lifted stocks shall stand forfeited. Out of the forfeited amount, 90% will be given to the seller and balance 10% shall be retained by the Exchange. However, in case 90% of the forfeited amount is lesser to compensate the loss to the seller as per the prevalent market price, the Buyer has to compensate the actual loss of seller for defaulted quantity. Details of Exchange Designated Ginning & Pressing Factory where Kapas can be accepted in Deoli Market Area. Sr. No. Name of the Ginning & Pressing Factories Address of the Ginning & Pressing Factories. 1. Shri krishna Ginning & Pressing Factory A5 II, MIDC Deoli Taluka Deoli, Dist. - Wardha Maharashtra Deoli APMC Area ***********