Type of contract

Futures Contract Specifications

Name of commodity

Jute Sacking bags 

Ticker symbol

JUTB65KOL

Trading system

NCDEX Trading System

Hours of Trading  

As per directions of the Forward Markets Commission from time to time, currently (with effect from April 25, 2005) -

Mondays through Fridays :
10:00 AM to 05:00 PM

Saturdays :
10.00 AM to 2.00 PM

The Exchange may vary the above timing with due notice. 

Basis

B twill 665 gm ex designated warehouse in West Bengal exclusive of all taxes

Unit of trading

25 bales (i.e. 500 bags per bale)

Delivery Unit

25 bales (i.e. 500 bags per bale for B twill 665 gm)

Quotation/Base Value

Rs per 100 bags

Tick size

Re 1

Quality specification

Size: 94 cms X 57 cms
Weight: 665gms (per bag)
Threads:76 X 28 threads (per dm)

Also Deliverable

a. B twill 907 gm

Size: 112 cms X 67.5 cm

Weight: 907 gms (per bag)

Threads:76 X 28 threads (per dm) (6 porters and 7 shots)

25 bales (i.e. 300 bags per bale for B twill 907 gm)

B twill 1020 gm

Size: 112 cms X 67.5 cm

Weight: 1020 gms (per bag)

Threads:76 X 31 threads (per dm) (6 porters and 8 shots)

25 bales (i.e. 300 bags per bale for B twill 1020 gm)

Quantity variation

+/- 2%

No. of active contracts

Maximum 12 monthly or minimum 2 monthly contracts running concurrently.

Delivery center

Warehouses notified by Exchange in West Bengal

Opening of contracts

Trading in any contract month will open on the 10th of the month. If the 10th day happens to be a non-trading day, contracts would open on the next trading day 

Due date

20th day of the delivery months. If 20th happens to be holiday then previous trading day.

Delivery specification

Upon expiry of the contracts, if any seller with open position desires to give delivery at a particular delivery center, then the corresponding buyer with open position as matched by the process put in place by the Exchange shall be bound to settle by taking physical delivery

Premium / Discount

Shall be notified by the Exchange on or before the expiry date

Price limit

Daily price limit will be (+) / (-) 6 % from the previous days closing price. If the trade hits this price limit, trade will stop for 15 minutes, where after the price limit would be extended by another (+) / (-) 3 %. No trade will be permitted during the day beyond the price limit of (+)/ (-) 9 % from the previous days closing price.

Position limits

Member: 12,00,000 bags for all contracts

Client: 6,00,000 bags for all contracts

The above limit will not apply to bona fide hedgers as determined by the Exchange

For bonafide hedgers, the Exchange will, on a case to case basis, decide the hedge limits.

For near month contracts: The following limits would be applicable from 28 days prior to expiry date of a contract

Member : Maximum of 240000 bags

Client : Maximum of 120000 bags

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 buyer or seller depending on whether price rises or falls respectively. The margin shall stay in force so long as price stays beyond the 20% limit and will be withdrawn as soon as the price is within the 20 % band.

Accreditation of Warehouse

The warehouse should be accredited up to the radius of 50 Kms from the municipal limits of all delivery centers.