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Untitled Document
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Untitled Document
| Medium Staple Cotton |
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Introduction
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Premium Discount Matrix
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Click Here -
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Medium Staple Cotton Contract Specifications
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Medium Staple Cotton Contract Specifications. Updated as
on 09 August 2008.
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| Trading system |
NCDEX Trading System |
| Ticker symbol |
COTMSCABHR |
| Basis |
Ex-warehouse Abohar, exclusive
of all taxes |
| Unit of trading |
55 Bales with each
bale of 170 kg (= 93.5 Quintals) |
| Delivery unit |
55 Bales with each
bale of 170 kg (= 93.5 Quintals) |
| Quotation/base value |
Rs./ maund (0.373242
Quintal) |
| Tick size |
Re. 0.50 |
| Quality specification
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Medium Staple Cotton
- Staple length: As per HVI mode of assaying
- Basis: 26.5 mm
- Tenderable Range: 26 - 27.5 mm with no premium above 27.5
mm.
- Micronaire:
Basis: 4.0 - 5.0 with no premium/discount
- Strength: As per HVI mode of assaying
Basis: Min. 27 G/Tex with no premium above 27 G/Tex
- Grades:
- Basis: Fine
- Tenderable range of grades: `Fully Good', `Fine', `Superfine'
- Moisture:
Basis: Max. 8.5% with no premium below 8.5%
- Trash content:
- Basis: 4%
- Max tenderable upto 5% with a discount of 1:1.5 and a premium
of 1:1.5 below 4%
- For Roller Ginned cotton max. tenderable upto Max 3.5% and
also below 3.5% with a premium of 1:1.5
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| Quantity variation |
+/- 5% for total weight
of each deliverable lot |
| Trading and Delivery months |
January, February, March, April,
May, June, July, August, October, November and December |
| Delivery center |
Abohar (Punjab) |
| Additional centres where deliveries
can be made. |
Mansa (Punjab), Sirsa (Haryana),
Hanumangarh and Sriganganagar (Rajasthan) |
| Locational Premium/
discount |
Locational premium
discounts would be applicable for all additional delivery centres
with respect to the basis centre Abohar. The premium discounts would
be available at the time of the launch of the contracts. |
| Also deliverable |
Roller ginned cotton
would be deliverable at a premium for all centres. Exchange would
announce the premium for roller ginned cotton at the time of launch
of contract. |
| Trading hours |
As per directions of the Forward
Markets Commission from time to time, currently
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 |
| 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 |
| No. of active contracts |
As per launch calendar |
| Opening of contracts |
Trading in new contract month(s)
will open on the 10th day of the month. If 10th day happens to be
a non- trading then the contract will open on the next trading day. |
| Due date/Expiry date |
20th day of the delivery month
If 20th day 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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| Closing of contract |
All open positions will be settled
as per general rules and product specific regulations |
| 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 shall be raised by another (+/-) 1% and trade will be resumed.
If the price hits the revised price band 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 limit |
Member: Maximum
of 60,000 bales or 15% of market wide open position whichever is higher.
What is the position limit
Client: Maximum of 20,000 bales
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.
For near month contracts:
The following limits would be applicable from 10 days prior to expiry
date of a contract
Member: Maximum up to 12,000 Bales or 15% of the
market-wide near month open position, whichever is higher.
Client: Maximum up to 4,000 Bales |
| Special Margins |
In case of additional volatility,
a special margin of at such other percentage, as deemed fit, will
be imposed immediately on both buy and sell side in respect of all
outstanding positions, which will remain in force for next 2 days,
after which the special margin will be relaxed. |
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COMMODITY : MEDIUM STAPLE COTTON
| Commodity Specifications |
Basis |
Acceptable quality
range as per contract specification |
Permissible Tolerance |
| Staple Length |
26.5 mm |
26mm - 27.5 mm |
+/-0.25 mm tolerance |
| Mic |
4-5 |
4-5 |
+/- 0.5 |
| Strength |
Min 27 g/tex |
Min 27 g/tex |
+/- 0.5 g /tex |
| Grade |
Fine |
Fully Good, Fine , Superfine |
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| Moisture |
Max 8.5 % |
Max 8.5 % |
+/- 1% |
| Trash |
Basis: 4% |
Max tenderable upto 5% with a
discount of 1:1.5 and a premium of 1:1.5 below 4% |
+/- 0.25% |
| Max
Tolerance (for all characteristics) |
1.5
% |
| 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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Contract Launch Calendar
| Contract Launch Month |
Contract Expiry Month |
| May 2008 |
August 2008 |
| June 2008 |
October 2008 |
| July 2008 |
November 2008 |
| August 2008 |
December 2008 |
| October 2008 |
January 2009 |
| November 2008 |
February 2009 |
| December 2008 |
March 2009 |
| January 2009 |
April 2009 |
| February 2009 |
May 2009 |
| March 2009 |
June 2009 |
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Contract Launch Calendar:
| Contract Launch Month |
Contract Expiry Month |
June 2009
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July 2009,August 2009,October
2009 |
July 2009
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November 2009 |
August 2009
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December 2009 |
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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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