Futures Contract Specifications.
(Contract specifications applicable for Chilli) |
| Type of contract |
Futures Contract Specifications |
| Name of commodity
|
Chilli |
| Ticker symbol
|
CHLL334GTR |
| Trading system
|
NCDEX Trading System |
| Basis
|
Chilli (Paala)
traded as LCA 334 ex warehouse Guntur inclusive of all taxes and Market
Cess |
| Unit of trading
|
5 MT
|
| Delivery unit
|
5 MT |
| Quotation/ Base value
|
Rs. per Quintal |
| Tick size
|
Re. 1 |
| Quality specification
|
- LCA 334
- Colour - Bright Red
- Length
a) Not less than 5 cms
b) Chillies less than 5 cms will be allowed to a
maximum of 5% by weight
- Moisture should not be more than 12.5*%
- Foreign matter should not be more than 2%
- Broken Chillies should not be more than 7%*
- Loose seeds should not be more than 2%
- Damaged and discolored pods - Basis 6%*
Acceptable up to 7% with 1:1 discount
- Pods without stalks should not be more than 8%*
*Tolerance up to 0.5% of the above limits only in the outbound deliveries
will be allowed |
| Also Deliverable |
Guntur Sannam with
a premium of Rs. 150 per Quintal |
| Quantity variation
|
+/- 2% |
| Delivery center
|
Guntur (up to the
radius of 50 Kms from the municipal limits) |
| Additional delivery centre |
Warangal (up to the
radius of 50 Kms from the municipal limits) Location Premium/Discount
as notified by the Exchange from time to time. |
| Hours of Trading |
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.
Saturdays: 10.00 a.m. to 2.00 p.m.
The Exchange may vary the above timing with due notice. |
| 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 (other than a
Saturday) of the Exchange |
| Delivery specification
|
Upon expiry of the
contract all outstanding positions will result in delivery.
The penalty structure for failure to meet delivery obligations will
be as per circular no. NCDEX/TRADING-086/2008/216 dated September
16, 2008. |
| Delivery Logic |
Compulsory Delivery |
| Opening of contracts |
Trading in any contract month
will open on the 10th day of the month. If 10th happens to be a non-trading
day, contracts would open on the next trading day |
| Closing of contract |
On the expiry of the contract,
all the outstanding position would have to be settled by physical
delivery |
| No. of active contracts |
As per Annexure A |
| Daily price fluctuation
limit |
Daily price limit will be 2%.
If the price touches 2%, trading will continue with 2% limit for the
15 minutes period from the time 2% limit was reached. Thereafter,
price limit would be extended by another (+)/ (-) 2%. No trade would
be permitted during the day beyond the price limit of (+)/(-)4% from
the previous day's closing price |
| Position limits
|
Member: Maximum
of 4,500 MT for all contracts or 15% of market open position whichever
is higher.
Client: Maximum of 1,500 MT for all contracts
The above limits will not apply to bona fide hedgers.
For bona fide hedgers, the Exchange will, on a case to case basis,
decide the hedge limits. Please refer to Circular No. NCDEX/TRADING-100/2005/219
dated October 20,2005.
For near month contracts:
The following limits would be applicable from 28 days prior to expiry
date of a contract
Member: Maximum of 1,500 MT or 15% of market wide open interest in near month whichever is higher
Client: Maximum of 500 MT |
| Special margins |
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. |
|
Note: Tolerance limit is applicable only for outbound deliveries. Variation in quality parameters within the prescribed tolerance limit as above will be treated as good delivery when members/clients lift the materials from warehouse. These permissible variations shall be based on the parameters found as per the immediate preceding test certificate given by NCDEX approved assayer.
COMMODITY : CHILLI
For Contracts expiring in February 2008 and thereafter
| Commodity Specifications |
Basis |
Acceptable quality range as per
contract specification
|
Permissible Tolerance |
| Quality |
LCA 334 |
- |
- |
| Colour |
Bright Red |
- |
- |
| Length - |
- |
- |
- |
| Not less than 5 cms |
- |
- |
- |
| Chillies less than 5 cms will be allowed |
5% max. by weight |
- |
- |
| Moisture |
12.5% Max. |
- |
+0.5% |
| Foreign matter |
2% Max. |
- |
- |
| Broken Chillies should |
7% Max. |
- |
+0.5% |
| Loose seeds should |
2% Max. |
- |
- |
| Damaged and discolored pods |
6% basis. |
Damaged & Discolored pods basis 6% and
acceptable upto 7% with 1:1 discount |
+/- 1% |
| Pods without stalks |
8% Max. |
- |
+0.5% |
| Max Loss (for all
the characteristics) |
+/- 2.00 % |
|
| Note: Tolerance limit is applicable
only for outbound deliveries. Variation in quality parameters within the
prescribed tolerance limit as above will be treated as good delivery when
members/clients lift the materials from warehouse. These permissible variations
shall be based on the parameters found as per the immediate preceding test
certificate given by NCDEX approved assayer.
|
Chilli launch calendar for all the contracts
expiring in the year 2010 :
| Contract Launch Month |
Contract Expiry Month |
| August 2009 |
February 2010 |
| October 2009 |
March 2010 |
| December 2009 |
April 2010 |
| February 2010 |
June 2010 |
| March 2010 |
July 2010 |
| April 2010 |
August 2010 |
| June 2010 |
September 2010 |
| July 2010 |
October 2010 |
| August 2010 |
November 2010 |
| September 2010 |
December 2010 |
|
Contract Launch Calendar of Chilli :-
| Contract Launch Month |
Contract Expiry Month |
| October 2010 |
February 2011 |
| November 2010 |
March 2011 |
| December 2010 |
April 2011 |
| January 2011 |
No Launch |
| February 2011 |
June 2011 |
| March 2011 |
July 2011 |
| April 2011 |
August 2011 |
| May 2011 |
No Launch |
| June 2011 |
September 2011 |
| July 2011 |
October 2011 |
| August 2011 |
November 2011 |
| September 2011 |
December 2011 |
|
|
Members and market participants who enter into buy and sell transactions may
please note that they need to be aware of all the factors that go into the
mechanism of trading and clearing, as well as all provisions of the Exchange's
Bye Laws, Rules, Regulations, Product Notes, circulars, directives,
notifications of the Exchange as well as of the Regulators, Governments and
other authorities.
Members and market participants trading on the Exchange in the
commodity contracts shall be deemed to be aware of applicable laws and
amendments thereof from time to time, including provisions and rates relating
to the sales tax, value added tax APMC Tax, Mandi Tax, octroi, excise duty,
stamp duty, etc., applicable on the underlying commodity of any contract
offered for trading.
The Exchange shall not be responsible or liable on account of non
compliance by any of the members and market participants of any such applicable
laws or any amendments thereof including not being aware of rates of taxes,
levies, etc., on the underlying commodity of any contract offered for trading.
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