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Contract Specifications of SOYBEAN ( Applicable for contracts expiring in July 2010 and thereafter)
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Soy Bean A - Futures Contract Specifications. ( Applicable
for contracts expiring in July 2010 and thereafter )
(Applicable for contracts expiring in the months of September, October,
November, December and January) |
| Type of Contract |
Futures Contract Specifications |
| Name of Commodity |
Soy Bean |
| Ticker symbol |
SYBEANIDR |
| Trading System |
NCDEX Trading System |
| Basis |
Ex-Warehouse Indore
exclusive of sales taxes |
| Unit of trading |
10 MT |
| Delivery unit |
10 MT |
| Quotation/base value |
Rs per quintal |
| Tick size |
50 Paisa |
| Quality specification
|
| Moisture |
10 % |
| Foreign Matter |
2 % |
| Damaged |
2 % |
| Green Seed |
7 % |
|
| Quantity variation |
+/- 2% |
| Delivery center |
Indore ( within a
radius of 50 km from the municipal limits ) |
| Additional delivery centre |
Akola, Nagpur (Maharashtra); Itarsi,
Sagar (M. P.) and Kota (Rajasthan)
Location Premium/Discount as notified 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,
which is not a Saturday |
| Delivery specification |
The sellers would be required
to give their intention to give delivery at least five days before
the maturity of the contract. If a buyer with an outstanding position
at maturity or a seller, who has given an intention to deliver, fails
to meet their respective obligations, the penalty structure will be
as per circular no. NCDEX/TRADING-091/2007/235 dated October 4, 2007.
The operators giving the intention for delivery shall not be allowed
to square off their position |
| 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 |
| 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 limit |
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 hits the revised price band (4%) 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 Limits |
Member level:
60,000 MT or 15 % of market open interest, whichever is higher
Client level: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.
Near month limit (Applicable from 28 days prior to expiry date)
Member level: 18,000 MT or 15 % of the market-wide
near month open position, whichever is higher
Client level:
6,000 MT |
| Quality Allowance
(for Delivery) |
Quality delivery with
variation shall be acceptable with discount as under:
- Moisture: From 10-12% accepted at 1:1. Above
12% rejected
- Foreign Matter: From 2-4% accepted at 1:1.
Above 4% rejected (The term 'foreign matter' would, in-general,
mean anything other than Soy Bean e.g. sand, silica, pebbles,
stalks and other seeds)
- Damaged Seed: From 2-5% accepted at 2:1. Above
5% rejected
- Green Seed: Above 7% rejected
- Free from non-edible seeds such as Mahua, Castor and Neem and
any toxic substances. Should be free from any foul odour.
|
| Special Margin |
In case of additional volatility,
a special margin at such other percentage, as deemed fit, will be
imposed in respect of outstanding positions, which will remain in
force as long as the volatility exists, after which the special margin
may be relaxed |
|
Tolerance limit Commodity: SOYA BEAN-A
(Applicable for contracts expiring in the month of September, October, November,
December and January)
| Commodity Specifications |
Basis |
Acceptable quality range as per
contract specification
|
Permissible Tolerance |
| Moisture |
10% for Soybean-A (8% for soybean-B) |
From 10-12% accepted at 1:1 discount. Above
12% rejected (Soybean-A). From 8-10% accepted at 1:1 discount. Above 10%
rejected (Soybean-B) |
|
| Foreign Matter |
2% Basis |
From 2- 4% accepted at 1:1 discount. Above 4%
rejected |
0.25% |
| Damaged |
2% Basis |
From 2-5% accepted at 2:1 discount. Above 5%
rejected |
0.25% |
| Green Seed |
7% Max |
|
0.5% |
| Max Tolerance (for
all characteristics) |
0.5% |
|
| 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.
|
Soy Bean-B Futures Contract Specifications. ( Applicable
for contracts expiring in July 2010 and thereafter )
(Applicable for all contracts expiring in the months of February, March,
April, May, June, July and August ) |
| Type of Contract |
Futures Contract Specifications |
| Name of Commodity |
Soy Bean |
| Ticker symbol |
SYBEANIDR |
| Trading System |
NCDEX Trading System |
| Basis |
Ex-Warehouse Indore
exclusive of sales taxes |
| Unit of trading |
10 MT |
| Delivery unit |
10 MT |
| Quotation/base value |
Rs per quintal |
| Tick size |
50 Paisa |
| Quality specification
|
| Moisture |
8 % |
| Foreign Matter |
2 % |
| Damaged |
2 % |
| Green Seed |
7 % |
|
| Quantity variation |
+/- 2% |
| Delivery center |
Indore ( within a
radius of 50 km from the municipal limits ) |
| Additional delivery centre |
Akola, Nagpur (Maharashtra); Itarsi,
Sagar (M. P.) and Kota (Rajasthan)
Location Premium/Discount as notified 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,
which is not a Saturday |
| Delivery specification |
The sellers would be required
to give their intention to give delivery at least five days before
the maturity of the contract. If a buyer with an outstanding position
at maturity or a seller, who has given an intention to deliver, fails
to meet their respective obligations, the penalty structure will be
as per circular no. NCDEX/TRADING-091/2007/235 dated October 4, 2007.
The operators giving the intention for delivery shall not be allowed
to square off their position |
| 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 |
| 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 limit |
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 hits the revised price band (+/-)4% 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 Limits |
Member level:
60,000 MT or 15 % of market open interest, whichever is higher
Client level: 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.
Near month limit (Applicable from 28 days prior to expiry date)
Member level: 18,000 MT or 15 % of the market-wide
near month open position, whichever is higher
Client level:
6,000 MT |
| Quality Allowance
(for Delivery) |
Quality delivery with
variation shall be acceptable with discount as under:
- Moisture: From 8-10% accepted at 1:1. Above
10% rejected
- Foreign Matter: From 2-4% accepted at 1:1.
Above 4% rejected (The term 'foreign matter' would, in-general,
mean anything other than Soy Bean e.g. sand, silica, pebbles,
stalks and other seeds)
- Damaged Seed: From 2-5% accepted at 2:1. Above
5% rejected
- Green Seed: Above 7% rejected
- Free from non-edible seeds such as Mahua, Castor and Neem and
any toxic substances. Should be free from any foul odour.
|
| Special Margin |
In case of additional volatility,
a special margin at such other percentage, as deemed fit, will be
imposed in respect of outstanding positions, which will remain in
force as long as the volatility exists, after which the special margin
may be relaxed |
|
Tolerance limit of Commodity: SOYA BEAN-B
(Applicable for contracts expiring in the months of February, March, April,
May, June, July and August )
| Commodity Specifications |
Basis |
Acceptable quality range as per
contract specification
|
Permissible Tolerance |
| Moisture |
10% for Soybean-A (8% for soybean-B) |
From 10-12% accepted at 1:1 discount. Above
12% rejected (Soybean-A). From 8-10% accepted at 1:1 discount. Above 10%
rejected (Soybean-B) |
|
| Foreign Matter |
2% Basis |
From 2- 4% accepted at 1:1 discount. Above 4%
rejected |
0.25% |
| Damaged |
2% Basis |
From 2-5% accepted at 2:1 discount. Above 5%
rejected |
0.25% |
| Green Seed |
7% Max |
|
0.5% |
| Max Tolerance (for
all characteristics) |
0.5% |
|
| 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.
|
Contract Launch calendar of Soybean : -
| Contract Launch Month |
Contract Expiry Month |
|
March 2010 |
August 2010 |
|
April 2010 |
September 2010 |
|
May 2010 |
October 2010 |
|
June 2010 |
November 2010 |
|
July 2010 |
December 2010 |
|
August 2010 |
January 2011 |
|
September 2010 |
February 2011 |
|
October 2010 |
March 2011 |
|
November 2010 |
April 2011 |
|
December 2010 |
May 2011 |
|
January 2011 |
June 2011 |
|
February 2011 |
July 2011 |
|
March 2011 |
August 2011 |
|
April 2011 |
September 2011 |
|
May 2011 |
October 2011 |
|
June 2011 |
November 2011 |
|
July 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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