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Contract Specifications ( Applicable for contracts expiring upto January 2010 )
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Contract Specifications ( Applicable for contracts expiring in April 2010 and thereafter )
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Contract Launch Calendar
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Futures Contract Specifications ( Applicable for contracts
expiring upto January 2010 )
Updated as on 01 December 2009.
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| Trading system |
NCDEX Trading
System |
| Type of contract |
Futures Contract Specifications |
| Name of commodity |
Rapeseed-Mustard seed |
| Ticker symbol |
RMSEEDJPR |
| Basis |
Ex-warehouse Jaipur,
exclusive of sales taxes/VAT |
| Unit of trading |
10 MT |
| Delivery unit |
10 MT |
| Quotation/base value |
Rs. per 20 kg |
| Tick size |
Re. 0.05 (5 paisa) |
| Quality specification
|
Moisture content :
5% (basis)
Oil Content (at 5% moisture content level): 42% (basis)
FFA%: 1.5 (max)
Foreign Matter: 0.25% (basis) |
| Quantity variation |
+/- 2% |
| Delivery centre |
Jaipur (up to the radius of 50
km from the municipal limits) |
| Additional delivery centres |
Alwar (Rajasthan), Kota (Rajasthan),
Sri Ganganagar (Rajasthan),Bikaner (Rajasthan), Hapur (Uttar Pradesh),
Agra (Uttar Pradesh) (At all centers, up to the radius of 50 km from
the municipal limits) with 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 -
Mondays through Fridays: 10:00 a. m. to 05:00 p.m.
Saturdays: 10.00 a.m. to 2.00 p.m.
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
contract all outstanding positions will result in 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. |
| Delivery Logic |
Compulsory Delivery
|
| Closing of contract |
Upon the expiry of contract all
outstanding open positions would result in 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 launch calendar
|
| Price limits |
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 again hits the revised price band (4%) 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-wise:
60,000 MT or 15% of Market open interest whichever is higher
Client-wise
: 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 to Circular No. NCDEX/TRADING-100/2005/219
dated October 20, 2005.
For near month contracts
:
The following limits would be applicable from 28 days prior to expiry
date of a contract.
Member: 18,000 MT or 15% of the market-wide near
month open position, which ever is higher
Client: 6,000 MT |
| Premium/Discount |
Quality delivery with variation
shall be acceptable with premium/discount as under:
Moisture:
• From 5% to 6.5% accepted at 1:1 discount or part there of
• Above 6.5% rejected
Oil Content:
• From 42% to 37% accepted at 1:1 discount or part there of
• More than 42% accepted at 1:1 premium or part there of
• Below 37% rejected
Foreign matter:
• From 0.25% to 2% accepted at 1:1 discount or part there of
• Above 2% rejected
• Free from non-edible seeds such as Mahuas, Castor, Neem, Taramira
and Argemone seeds. Should be free from any foul odor. |
|
Tolerence Limit of Rapeseed Mustard Seed:-
| Commodity Specifications |
Basis |
Acceptable quality range as per
contract specification
|
Permissible Tolerance |
| Moisture content |
5% (basis) |
From 5% to 6.5% accepted at 1:1
discount or part thereof, Above 6.5 % rejected |
|
| Oil Content (at 5% moisture content
level) |
42% (basis) |
42% delivery at par From 42% to
37% accepted at 1:1 discount or part thereof, More than 42% accepted
at 1:1 premium or part thereof, Below 37% rejected |
+/-0.25% |
| FFA |
1.5% (max) |
|
|
| Foreign Matter |
0.25% (basis) |
From 0.25% to 2% accepted at 1:1
discount or part thereof, Above 2 % rejected |
+/-0.25% |
| Max
Tolerance (for all characteristics) |
+/-0.25% |
|
| 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. |
Annexure A: Contract Launch Calendar :
| Contract Launch Month |
Contract Expiry Month |
July 2009
|
November 2009 |
| Aug 2009 |
December 2009 |
| Sep 09 |
January 2010 |
|
Futures Contract Specifications ( Applicable for contracts
expiring in April 2010 and thereafter )
Updated as on 01 December 2009.
|
| Trading system |
NCDEX Trading System |
| Type of contract |
Futures Contract Specifications |
| Name of commodity |
Rapeseed-Mustard seed |
| Ticker symbol |
RMSEEDJPR |
| Basis |
Ex-warehouse Jaipur,
exclusive of sales taxes/VAT |
| Unit of trading |
10 MT |
| Delivery unit |
10 MT |
| Quotation/base value |
Rs. per 20 kg |
| Tick size |
Re. 0.05 (5 paisa) |
| Quality specification
|
Moisture content :
5% (basis)
Oil Content (at 5% moisture content level): 42% (basis)
FFA%: 1.5 (max)
Foreign Matter: 0.25% (basis) |
| Quantity variation |
+/- 2% |
| Delivery centre |
Jaipur (up to the radius of 50
km from the municipal limits) |
| Additional delivery centres |
Alwar (Rajasthan), Kota (Rajasthan),
Sri Ganganagar (Rajasthan),Bikaner (Rajasthan), Hapur (Uttar Pradesh),
Agra (Uttar Pradesh) (At all centers, up to the radius of 50 km from
the municipal limits)
(Premium/discount for all centres will be announced at the time of
launching a contract) |
| Trading hours |
As per directions
of the Forward Markets Commission from time to time, currently -
Mondays through Fridays: 10:00 a. m. to 05:00 p.m.
Saturdays: 10.00 a.m. to 2.00 p.m.
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
contract all outstanding positions will result in 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. |
| Delivery Logic |
Compulsory Delivery
|
| Closing of contract |
Upon the expiry of contract all
outstanding open positions would result in 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 launch calendar
|
| Price limits |
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 again hits the revised price band (4%) 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-wise:
60,000 MT or 15% of Market open interest whichever is higher
Client-wise
: 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 to Circular No. NCDEX/TRADING-100/2005/219
dated October 20, 2005.
For near month contracts
:
The following limits would be applicable from 28 days prior to expiry
date of a contract
Member: 18,000 MT or 15% of the market-wide near
month open position, which ever is higher
Client: 6,000 MT |
| Premium/Discount |
Quality delivery with variation
shall be acceptable with premium/discount as under:
Moisture:
• From 5% to 6.5% accepted at 1:1 discount or part there of
• Above 6.5% rejected
Oil Content:
• From 42% to 37% accepted at 1:1 discount or part there of
• More than 42% accepted at 1:1 premium or part there of
• Below 37% rejected
Foreign matter:
• From 0.25% to 2% accepted at 1:1 discount or part there of
• Above 2% rejected
• Free from non-edible seeds such as Mahuas, Castor, Neem, Taramira
and Argemone seeds. Should be free from any foul odor. |
|
Tolerence Limit of Rapeseed Mustard Seed:-
| Commodity Specifications |
Basis |
Acceptable quality range as per
contract specification
|
Permissible Tolerance |
| Moisture content |
5% (basis) |
From 5% to 6.5% accepted at 1:1
discount or part thereof, Above 6.5 % rejected |
|
| Oil Content (at 5% moisture content
level) |
42% (basis) |
42% delivery at par From 42% to
37% accepted at 1:1 discount or part thereof, More than 42% accepted
at 1:1 premium or part thereof, Below 37% rejected |
+/-0.50% |
| FFA |
1.5% (max) |
|
|
| Foreign Matter |
0.25% (basis) |
From 0.25% to 2% accepted at 1:1
discount or part thereof, Above 2 % rejected |
+/-0.25% |
| Max
Tolerance (for all characteristics) |
+/-0.50% |
|
| 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. |
Annexure A: Contract Launch Calendar :
| Contract Launch Month |
Contract Expiry Month |
October 22, 2009
|
April 2010 |
| November 2009 |
May 2010 |
| December 2009 |
June 2010 |
| January 2010 |
July 2010 |
| April 2010 |
August 2010 |
| May 2010 |
September 2010 |
| June 2010 |
October 2010 |
| July 2010 |
November 2010 |
| August 2010 |
December 2010 |
|
Contract Launch Calendar of RM Seed :-
| Contract Launch Month |
Contract Expiry Month |
|
September 2010 |
January 2011 |
|
October 2010 |
April 2011 |
|
November 2010 |
May 2011 |
|
December 2010 |
June 2011 |
|
January 2011 |
July 2011 |
|
February 2011 |
No Launch |
|
March 2011 |
No Launch |
|
April 2011 |
August 2011 |
|
May 2011 |
September 2011 |
|
June 2011 |
October 2011 |
|
July 2011 |
November 2011 |
|
August 2011 |
December 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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