| |
Futures Contract Specifications.
|
| Type of Contract |
Futures Contract Specifications |
| Name of Commodity |
ALUMINUM INGOT |
| Ticker symbol |
ALUMINIUM |
| Trading System |
NCDEX Trading System |
| Basis |
Ex-Warehouse at Bhiwandi,
exclusive of Import Duty, CVD/Excise, Cess, Sales Tax / VAT and any
other levy or tax. In addition, the Buyers will be liable to pay delivery
charges to Seller as notified by the Exchange before launch of respective
contract |
| Unit of trading |
2 MT (Two Metric Tonnes)
|
| Delivery unit |
2 MT (Two Metric Tonnes) |
| Quotation/base value |
Rs per KG |
| Tick size |
Re. 0.1/- per KG (10
Paise ) |
| Quality specification
|
Aluminum of 99.7 %
purity and each slab weighing 12 26 kgs
As per IS 2590 -1987 |
| Quantity variation |
+/- 250 KGs or 2%
whichever is lower |
| Delivery center |
Bhiwandi, Maharashtra.
Warehouse to be accredited within 50kms from the municipal limits
|
| Additional delivery centre |
Delhi. Warehouse to be accredited
within 50kms from the municipal limits.
Location Premium/Discount as notified by the Exchange from time to
time. |
| Hours of trading |
As per directions
of the Forward Markets Commission from time to time, currently –
Mondays through Fridays : -
10:00 AM to 11:30 /11:55 PM*
Saturdays 10:00AM to 02:00 PM
Expiry Date - at 5:35 PM / 6:35 PM*
*during US day light saving period
All timings are as per Indian Standard Timings (IST). The Exchange
may change the above timing with due notice. |
| Delivery specification |
The seller would be
required to give their intentions through the delivery request window
at least 3 trading days prior to the expiry of the contracts and the
intention will be collected during 3 days which would be notified
separately. |
| No. of active contracts |
As per launch calendar
|
| Opening of contracts |
Trading in any contract
month will open on the 1st day of the month. If the 1st day happens
to be a non-trading day, contracts would open on the next trading
day |
| Due date/Expiry date |
Last trading day of the month
If last day 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 |
On expiry of the contract, all
outstanding positions not resulting in giving/taking of physical delivery
of commodity shall be closed out at the Final Settlement Price announced
by the Exchange |
| Daily price fluctuation limit |
Base daily price fluctuation limit
is (+/-) 4%. If the trade hits the prescribed base daily price limit,
the limit will be relaxed up to (+/-) 6% without any break/ cooling
off period in the trade. In case the daily price limit of (+/-) 6%
is also breached, then after a cooling off period of 15 minutes, the
daily price limit will be further relaxed up to (+/-) 9%. Trade will
be allowed during the cooling off period within the price band of
(+/-) 6%.
In case of price movement in International markets which is more than
the maximum daily price limit (currently 9%), the same may be further
relaxed in steps of 3% with the approval of FMC. |
| Position limits |
Member-wise: 5,000
Metric Tonnes or 20% of market wide open position, whichever is higher.
Client-wise:1,000 Metric Tonnes.
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 |
| Minimum Initial Margin |
5% |
| Special Margin |
In case of additional volatility,
a special margin at such 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. |
| Delivery logic |
Sellers option |
|
Annexure: Contract Launch Calendar
| Contract Launch Month |
Contract Expiry Month |
| 27 January 2010 |
26 February 2010 |
| 27 January 2010 |
31 March 2010 |
| 1 February 2010 |
30 April 2010 |
| 1 March 2010 |
31 May 2010 |
| 1 April 2010 |
30 June 2010 |
|
Contract Launch Calendar :-
| Contract Launch Month |
Contract Expiry Month |
| 05/06/2010 |
30/07/2010 |
| 05/06/2010 |
31/08/2010 |
| 01/07/2010 |
30/09/2010 |
| 01/08/2010 |
29/10/2010 |
| 01/09/2010 |
30/11/2010 |
| 01/10/2010 |
31/12/2010 |
|
|
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.
|
|
|
|
|