Type of contract

Futures Contract Specifications

Name of commodity

Mulberry Cross breed(CB)/Bivoltine (B) Cocoons

Ticker symbol

MGCCBBRNM

Trading system

NCDEX Trading System

Basis

Ex-warehouse, Ramnagaram exclusive of all sales taxes

Unit of trading

50 Kg

Delivery unit

50 Kg

Quotation/base value

Rs./kg

Tick size

Re 0.25

Quality specification

Mulberry Cross breed(CB)/Bivoltine(B) Cocoons

Basis: Grade B

Also deliverable: Grade A and Grade C

Quantity variation

+/- 5% for total weight of each deliverable lot

Delivery center

Ramanagaram

Also deliverable

Shiddlaghatta

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.

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

Minimum 2 contracts with a maximum of 12 contracts running concurrently

Opening of contracts

Trading in any contract month will open on the 21st day of the month. If the 21st day happens to be a non-trading day, contracts would open on the next trading day

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

Closing of contract

All open positions will be settled as per general rules and product specific regulations

Price Limit

10 per cent

Position limits

Member-wise: 500 MT  (5,00,000 kg)

Client-wise: 100 MT (1,00,000 kg) 

Special Margins

Special Margins, by way of addition to the normal margins, would be levied on a large unidirectional movement of any silk cocoons contract on either the buy or sale side whichever way the movement has happened based on the first day settlement price of that contract and valid for the life of that contract.

A unidirectional movement of 20 per cent and above would attract a special margin of 1 per cent, movement of 25 per cent and above would attract a special margin of 2 per cent and finally a movement of 30 per cent and above would attract a special margin of 3 per cent .