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Futures Contract Specifications of Crude Palm Oil
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| Name of Commodity |
Crude Palm Oil |
| Ticker symbol |
CRDPOLKDL |
| Basis |
Ex-tank Kandla exclusive
of Sales Tax / VAT |
| Unit of trading |
10 MT |
| Delivery unit |
10 MT |
| Quotation/base value |
Rs per 10 kg |
| Tick size |
5 Paise |
| Quality specification
|
| Moisture & Impurities |
0.10 % Max |
| Refractive Index, 50°C |
1.4491-1.4552 |
| Specific Gravity, 42°C |
0.895-0.897 |
| Saponification Value |
195-205 |
| Iodine Value |
50-55 |
| Unsaponification Value |
1.2 % Max |
| Melting Point, Capillary Slip Method |
37°C Max |
| FFA |
5 % Max |
|
| Quantity variation |
+ /- 2% |
| Delivery center |
Kandla (within a radius of 50
km from the municipal limits) |
| Additional delivery
center |
Kakinada, with location
wise premium/discount as announced 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 AM to 5:00 PM
Saturdays :
10.00 AM to 2.00 PM
The Exchange may vary the above timing with due notice. |
| Delivery specification |
Upon expiry of the
contract, the delivery position would be arrived at by the Exchange
based on the information to give/take delivery furnished by the sellers
and buyers as per the process put in place by the Exchange for effecting
physical delivery. |
| No. of active contracts |
As per Launch Calendar |
| Opening of contracts |
Trading in any contract
month will open 10th day of the month. If the 10th day happens to
be a non-trading day, contracts would open on next trading day. |
| Due date/Expiry date |
Last trading day of the month
If last day happens to be a trading holiday, a Saturday or a Sunday
then the due date shall be the immediately preceding trading day of
the Exchange |
| Closing of contract |
On the expiry of the contract,
all outstanding positions not resulting in giving/taking of physical
delivery of the commodity shall be closed out at the Final Settlement
Price announced by the Exchange. |
| Price band |
Daily price fluctuation
limit is (+/-) 3%. 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 the
price band would be raised by (+ / -) 1% and trade will Be resumed.
If the price hits the revised price band (4%) again during the day,
trade will only be allowed within the revised price band. No trade
/ order shall be permitted during the day beyond the revised limit
of (+/-) 4% |
| Position limits |
Member level: Maximum
of 30,000 MT or 15 % of Market Open Position in the commodity, whichever
is higher
Client level: 10,000 MT
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 circular no. NCDEX/TRADING-100/2005/219 dated
October 20, 2005
Near month limit (Applicable from 28 days prior to expiry date)
Member level : Maximum of 10,000 MT or 15 % of the total near
month Open Position in the commodity, whichever is higher
Client level : 3,000 MT
Position limits applicable from April 01, 2010
Member level: Maximum of 60,000 MT or 15 % of Market
Open Position in the commodity, whichever is higher
Client level: 20,000 MT
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 circular no. NCDEX/TRADING-100/2005/219 dated
October 20, 2005
Near month limit (Applicable from 28 days prior to expiry date)
Member level : Maximum of 18,000 MT or 15 % of the
total near month Open Position in the commodity, whichever is higher
Client level : 6,000 MT |
| Special margins |
In case of additional
volatility, a special margin at such other percentage, as deemed fit,
will be imposed in respect of outstanding positions, which will remain
in force as long as the volatility exists, after which the special
margin may be relaxed. |
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Contract Launch Calendar :-
| Contract Launch Month |
Contract Expiry Month |
| March 16, 2010 |
March 2010 |
| April 2010 |
| May 2010 |
| June 2010 |
| April 2010 |
July 2010 |
| May 2010 |
August 2010 |
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Contract Launch Calendar :-
| Contract Launch Month |
Contract Expiry Month |
| July 2010 |
September 2010
October 2010 |
| August 2010 |
November 2010 |
| September 2010 |
December 2010 |
| October 2010 |
January 2011 |
| November 2010 |
February 2011 |
| December 2010 |
March 2011 |
| January 2010 |
April 2011 |
| February 2011 |
May 2011 |
| March 2011 |
June 2011 |
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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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