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Futures Contract Specifications. Updated as on 18 November
2008.
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| Type of Contract |
Futures Contract
Specifications |
| Name of Commodity |
RBD Palmolein |
| Ticker symbol |
RBDPLNKAK |
| Trading System |
NCDEX Trading System |
| Basis |
Ex-tank Kakinada inclusive
of all taxes |
| Unit of trading |
10 MT |
| Delivery unit |
10 MT |
| Quotation/base value |
Rs per 10 kg |
| Tick size |
5 Paise |
| Quality specification
|
Moisture & insoluble
impurities, % Max: 0.10
Color, 5 ¼" cell, Lovibond scale, Max: 3R/30Y
Refractive Index at 50°C: 1.4550-1.4610
Saponification Value: 195-205
Iodine Value (Wijs): 54-62
Unsaponficable matter, % by mass, Max: 1.2
FFA, % Max: 0.10
Cloud Point, °C, Max: 18
Flash Point, Penske-Martin Method °C, Min: 250 |
| Quantity variation |
+ /- 2% |
| Delivery center |
Kakinada (within a radius of 50
km from the municipal limits) |
| 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
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| 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 |
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,
which is not a Saturday |
| 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 limit will be 2%.
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, price limit
would be extended by another (+/-) 2%. No trade would be permitted
during the day beyond the price limit of (+/-) 4% from the previous
day's closing price. |
| Position limits |
Member level: 22,500
MT or 15 % of Market OI, whichever is higher
Client level: 7,500 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.
Near month limit (Applicable from 28 days prior to expiry date)
Member level: 4,500 MT or 15% of the market-wide near month open position,
whichever is higher
Client level: 1,500 MT
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Annexure: Contract Launch Calendar
| Contract Launch Month |
Contract Expiry Month |
| 27 January 2010 |
February 2010 |
| March 2010 |
| April 2010 |
| February 2010 |
May 2010 |
| March 2010 |
June 2010 |
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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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