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Untitled Document
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Untitled Document
| Cotton Seed Oilcake |
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Introduction
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Premium Discount Matrix
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Click Here -
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Contract Specifications (Applicable for all contracts expiring upto December 2009)
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Click Here -
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Modified Contract Specifications applicable for contracts expiring in January 2010 onwards
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Contract Specifications of Undecorticated Cotton Seed Oilcake- Akola
(Applicable for all contracts expiring upto December 2009)
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| Type of Contract |
Futures Contract
Specifications |
| Name of Commodity |
Undecorticated Cotton seed oilcake
- Akola |
| Ticker symbol |
COCUDCAKL |
| Trading System |
NCDEX Trading System |
| Basis |
Ex-Warehouse Akola,
inclusive of sales tax |
| Unit of trading
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10 MT |
| Delivery unit |
10 MT |
| Quotation/base value |
Rs. Per 50 Kg |
| Tick size |
10 Paisa |
| Quality specification
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Pure unadulterated
cotton seed oilcake in pellet form
• Moisture Content: 9% (Max)
• Oil Content: 6% ( Min)
• Fibre: 27% ( Max)
• Sand and Silica: 2.5% (Max)
• Protein: 22% (Min)
• Colour : Greenish yellow
Free from adulterants like Rice Bran cake, Rice Bran husk, Castor
seed husk, safflower cake (Kardi cake) |
| Quantity variation |
+/- 2% |
| Delivery center |
Akola (up to the radius of 50
km from the municipal limits) |
| Additional delivery
centres |
Kadi (within a radius
of 50 km from the municipal limits) Location wise premium/discount
as announced by the Exchange from time to time. |
| Trading hours |
As per directions of the Forward
Markets Commission from time to time, currently-
Monday through Friday: 10:00 AM to 05:00 PM
Saturday – 10.00 AM to 2.00 PM
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 of the Exchange
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| Delivery specification |
Upon expiry of the
contracts, sellers having open position shall give delivery of the
commodity. The corresponding buyers with open position as matched
by the process put in place by the Exchange shall be bound to settle
by taking physical 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. |
| Closing of contract |
On the expiry of the
contract, all the outstanding position shall be bound to settle by
physical delivery |
| Opening of contracts |
Trading in any contract
month will open on the 10th day of the month.
If the 10th day happens to be a non-trading day, contracts would open
on the next trading day |
| No. of active contracts |
As per the launch calendar |
| Price limit |
Daily price limit of 3% provided
that there will be a cooling period of 15 minutes after the trade
hits the prescribed daily price limit. Thereafter the price band will
be raised upto 4% and trade will be resumed. If the price hits the
revised price band again during the day, no trade/ order shall be
permitted beyond the revised limit during the day |
| Position limits |
Member level:
As per Annexure or 15 % of Market Open Interest whichever is higher
Client level: As per Annexure
The above limits will not apply to bonafide hedgers. For bonafide
hedgers, the Exchange will, on a case to case basis, decide the hedge
limits.
Near month limit (Applicable from 28 days prior to expiry
date of contract)
Member level: 7,200 MT or 15% of market wide near
month open-position whichever is higher.
Client level: 2,400 MT |
Quality Allowance
(for Delivery)
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None |
| Special Margins |
Special margin of 4 % of the value
of the contract will be levied whenever the rise or fall in price
exceeds 20 % of the 90 days prior settlement price. The margin will
be payable by the buyers 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 % limit. |
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COMMODITY: COTTONSEED OILCAKE (Akola)
| Commodity
Specifications |
Basis |
Acceptable
quality range as per contract specification |
Permissible
Tolerance |
| Moisture Content |
9% (Max) |
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| Oil Content |
6 % (Min) |
+/- 0.25% |
| Fibre |
27 % (Max) |
+/- 0.25% |
| Sand and Silica |
2.5 % (Max) |
+/- 0.25% |
| Protein |
22% (Min) |
+/- 0.25% |
| Colour |
Greenish yellow |
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| Max Tolerance (for
all characteristics) |
+/- 0.75% |
| 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. |
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Launch Calendar for Cotton Seed Oil Cake Akola contract
| Contract Launch Month |
Contract Expiry Month |
| April 2009 |
August 2009 |
| May 2009 |
September 2009 |
| July 2009 |
December 2009 |
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Modified Contract Specifications applicable for contracts expiring in January
2010 onwards
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| Type of Contract |
Futures Contract
Specifications |
| Name of Commodity |
Undecorticated Cotton seed oil
cake - Akola |
| Ticker symbol |
COCUDAKL |
| Trading System |
NCDEX Trading System |
| Basis |
Ex-Warehouse Akola,
inclusive of sales tax |
| Unit of trading
|
10 MT |
| Delivery unit |
10 MT |
| Quotation/base value |
Rs. Per Quintal |
| Tick size |
50 Paisa |
| Quality specification
|
Pure unadulterated
cotton seed oil cake in pellet form
• Moisture Content: 9% (Max)
• Oil Content: 6% ( Min)
• Fibre: 27% ( Max)
• Sand and Silica: 2.5% (Max)
• Protein: 22% (Min)
• Colour : Greenish yellow
Free from adulterants like Rice Bran cake, Rice Bran husk, Castor
seed husk, safflower cake (Kardi cake) |
| Quantity variation |
+/- 2% |
| Delivery center |
Akola (up to the radius of 50
km from the municipal limits) |
| Additional delivery
centres |
Kadi (within a radius
of 50 km from the municipal limits) Location wise premium/discount
as announced by the Exchange from time to time. |
| Trading hours |
As per directions of the Forward
Markets Commission from time to time, currently-
Monday through Friday: 10:00 AM to 05:00 PM
Saturday – 10.00 AM to 2.00 PM
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 of the Exchange
|
| Delivery specification |
Upon expiry of the
contracts, sellers having open position shall give delivery of the
commodity. The corresponding buyers with open position as matched
by the process put in place by the Exchange shall be bound to settle
by taking physical 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. |
| Closing of contract |
On the expiry of the
contract, all the outstanding position shall be bound to settle by
physical delivery |
| Opening of contracts |
Trading in any contract
month will open on the 10th day of the month.
If the 10th day happens to be a non-trading day, contracts would open
on the next trading day. |
| No. of active contracts |
As per the launch calendar |
| Price limit |
Daily price limit of 3% provided
that there will be a cooling period of 15 minutes after the trade
hits the prescribed daily price limit. Trade will be allowed during
this cooling off period within the price band. Thereafter the price
band will be raised upto 4% and trade will be resumed. If the price
hits the revised price band again during the day, no trade/ order
shall be permitted beyond the revised limit during the day |
| Position limits |
Member level: As
per Annexure or 15 % of Market Open Interest whichever is higher
Client level: As per Annexure
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 .
Near month limit (Applicable from 28 days prior to expiry
date of contract)
Member level: 7,200 MT or 15% of market wide near
month open-position whichever is higher.
Client level: 2,400 MT |
Quality Allowance
(for Delivery)
|
None |
| Special Margins |
Special margin of 4 % of the value
of the contract will be levied whenever the rise or fall in price
exceeds 20 % of the 90 days prior settlement price. The margin will
be payable by the buyers 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 % limit. |
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Tolerance Limit: COTTONSEED OIL CAKE
| Commodity
Specifications |
Basis |
Acceptable
quality range as per contract specification |
Permissible
Tolerance |
| Moisture Content |
9% (Max) |
|
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| Oil Content |
6 % (Min) |
+/- 0.25% |
| Fibre |
27 % (Max) |
+/- 0.25% |
| Sand and Silica |
2.5 % (Max) |
+/- 0.25% |
| Protein |
22% (Min) |
+/- 0.25% |
| Colour |
Greenish yellow |
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| Max Tolerance (for
all characteristics) |
+/- 0.75% |
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Contract Launch calendar
| Contract Launch Month |
Contract Expiry Month |
| July 2009 |
January 2010 |
| August 2009 |
February 2010 |
| September 2009 |
March 2010 |
| October 09 |
No Launch |
| November 09 |
No Launch |
| December 2009 |
April 2010 |
| January 2010 |
May 2010 |
| February 2010 |
June 2010 |
| March 2010 |
July 2010 |
| April 2010 |
August 2010 |
| May 2010 |
September 2010 |
| June 2010 |
December 2010 |
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Annexure - Position Limits at Commodity Level (in MT)
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COCUDCAKL (applicable
for contracts expiring upto December 2009) |
COCUDAKL (applicable
for contracts expiring in January 2010 onwards) |
| Date |
MEMBER |
CLIENT |
MEMBER |
CLIENT |
| Up to 22-Jul-2009 |
36,000 |
12,000 |
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| From 23-Jul-09 to 09-Aug-09 |
27,000 |
9,000 |
9,000 |
3,000 |
| From 10-Aug-09 to 20-Aug-09 |
21,600 |
7,200 |
14,400 |
4,800 |
| From 21-Aug-09 to 09-Sep-09 |
18,000 |
6,000 |
18,000 |
6,000 |
| From 10-Sep-09 to 18-Sep-09 |
14,400 |
4,800 |
21,600 |
7,200 |
| From 19-Sep-09 to 09-Dec-09 |
9,000 |
3,000 |
27,000 |
9,000 |
| From 10-Dec-09 to 18-Dec-09 |
7,200 |
2,400 |
28,800 |
9,600 |
| 19-Dec-09 Onwards |
- |
- |
36,000 |
12,000 |
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Please note that as per the contract specifications, for individual
symbols COCUDCAKL and COCUDAKL, the upper limit at Member level would
be either the maximum absolute limit mentioned in the table above
or 15% of Market Open Interest, whichever is higher.
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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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