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| Yellow Soybean Meal (Export).
Updated as on 9 February 2009. |
| Type of contract |
Futures Contract Specifications |
| Name of commodity |
Yellow Soybean Meal (Export) |
| Ticker symbol |
SBMEXPKDL |
| Trading system |
NCDEX Trading System |
| Basis |
Ex-warehouse
Kandla, Exclusive of Sales Tax |
| Unit of trading |
10 MT |
| Delivery unit |
10 MT |
| Quotation/base value
|
Rs per Metric Ton
|
| Tick size |
Rs 10 |
| Quality specification
|
Moisture :11% basis
Protein: 48% basis
Oil : 1.5%(Max)
Fiber: 6%(Max)
Sand/Silica: 2% basis
Urease (by EEC method):0.30 units basis |
| Quantity variation
|
+/- 2% |
| Delivery center |
Kandla
(within a radius of 50 km from the municipal limits) |
| Deliverable grades
|
Yellow soybean
meal of grade:
1. Expander type
2. Flaker type
|
| Trading hours |
As per directions of the Forward
Markets Commission from time to time, currently-
- Mondays through Fridays: 10:00 a. m. to 5:00 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, then previous trading day. If 20th
happens to be a Saturday or a Sunday then the due date shall be the
immediately preceding trading day of the Exchange, other than a Saturday |
| 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.
|
| 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
limit of 2% provided that there will be a cooling period of 15 minutes
after the trade hits the prescribed daily price limit. Thereafter
the price band will be raised by another 50 % of the existing limit
- upto 4 % and trade will be resumed. If the price hits the revised
price band again during the day, no trade/ order shall be permitted
beyond the revised limit during the day |
| Position limits |
Member level
: Maximum of 60,000 MT or 15 % of Market Open Position in the commodity,
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. Please refer circular no. NCDEX/TRADING-100/2005/219
dated October 20, 2005
Near month limit (The following limits would be applicable from
28 days prior to expiry date of a contract)
Member Level: Maximum of 15,000 MT or 15 % of total
near month Open Position in the commodity, whichever is higher
Client Level: 5,000 MT
|
| Premium/Discount |
Quality variations
shall be accepted with discounts as under:
Moisture: From 11% to 12%-accepted at 1:1 or part thereof.
Above 12% rejected.
Protein: From 48% to 46%- accepted at 1:1 or part thereof.
Below 46% rejected.
Oil: Above 1.5% rejected
Fiber: Above 6% rejected
Sand/Silica: From 2% to 2.5%- accepted at 1:1 or part thereof,
Above 2.5% rejected.
Urease activity: From 0.3 units to 0.35 units accepted at 0.1% for
every 0.01 unit increase in Urease activity,
Above 0.35 units rejected.
Free from pesticide (especially organochlorine compound group e.g.
DDT, dieldrin including aldrin and heptachlor)
Free from poisonous seeds and/or foreign seeds,
free from castor seeds and/or husk, free from lumps, free from weevils,
free from urea and/or other chemical substance. |
| Special Margins |
Special margin
of 5% of the value of the contract whenever the rise or fall in
price from the first day's closing price of 20% payable by buyer
or seller depending on whether prices rise or fall respectively.
The margins shall stay in force so long as price stays beyond the
20% limit and will be withdrawn as soon as the price is within the
20% band. |
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Annexure: Contract Launch Calendar ( Export )
| Contract Launch Month |
Contract Expiry Month |
| 27 January 2010 |
February 2010 |
| March 2010 |
| April 2010 |
| May 2010 |
| February 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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