Click here- Refiners applicable March 2009 expiry onward
Contract specification of Gold 100 gms. (Applicable for contracts expiring
in November 2009 and thereafter)
|
| Type of Contract |
Gold Futures Contract Specifications |
| Name of Commodity |
Gold |
| Ticker symbol |
GOLD100AHM |
| Trading System |
NCDEX's Trading System |
| Basis |
Ex- Ahmedabad inclusive
of Customs Duty, exclusive of Sales Tax/VAT, and any other charges
or levies. |
| Unit of trading |
100 grams |
| Delivery unit |
100 grams |
| Quotation/base value |
Rs per 10 Grams of
Gold with 995 fineness |
| Tick size |
Re 1 |
| Quality specification
|
Upto 999.9 fineness
bearing a serial number and identifying stamp of a refiner approved
by the Exchange.
List of approved refiners available at the following URL:
www.ncdex.com\downloads\refiners_gold.pdf
|
| Quantity variation |
None |
| Delivery center |
Ahmedabad |
| Additional Delivery centre |
Mumbai and New Delhi
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 Friday : 10:00 AM to 11:30 PM
Saturdays : 10:00 AM to 02:00 PM
On the expiry date, contracts expiring on that day will not be available
for trading after 5 PM.
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 immediately preceding trading day of the Exchange,
other than a Saturday of the Exchange.
|
| Delivery specification
|
Upon expiry of the
contracts all the outstanding positions should result in compulsory
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. |
| Closing of Contracts
|
Upon the expiry of
the contract all the outstanding position should result in compulsory
delivery. |
| Opening of Contracts
|
Trading in far month
contract will open on the 10th day of the month in which near month
contract is due to expire. If the 10th 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 |
Base daily price fluctuation limit
is (+/-)3%. 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 : 6 MT
or 15% of market wide open position whichever is higher – For
all Gold contracts combined together.
Client- wise : 2 MT – For all Gold contracts combined together.
The above limits will not apply to bonafide hedgers. For bonafide
hedgers the Exchange will decide the limits on a case-to-case basis.
|
Quality allowance(for Delivery)
|
Gold bars of 995/999.9 fineness.
A premium will be given for fineness above 995. The settlement for
more than 995 fineness will be calculated at (Actual fineness/995)*
Final Settlement Price. |
| Special Margins |
In case of additional volatility,
a special margin of at such other percentage, as deemed fit, will
be imposed immediately on both buy and sell side in respect of all
outstanding positions, which will remain in force for next 2 days,
after which the special margin will be relaxed. |
|
Contract Launch Calendar
| Opening Month |
Expiry Month |
| August 2009 |
November 2009 |
| September 2009 |
December 2009 |
| October 2009 |
January 2010 |
| November 2009 |
February 2010 |
| December 2009 |
March 2010 |
| January 2010 |
April 2010 |
| February 2010 |
May 2010 |
| March 2010 |
June 2010 |
| April 2010 |
July 2010 |
| May 2010 |
August 2010 |
| June 2010 |
September 2010 |
| July 2010 |
October 2010 |
| August 2010 |
November 2010 |
| September 2010 |
December 2010 |
|
Contract Launch Calendar of Gold 100 Grms :-
| Contract Launch Month |
Contract Expiry Month |
|
October 2010 |
January 2011 |
|
November 2010 |
February 2011 |
|
December 2010 |
March 2011 |
|
January 2011 |
April 2011 |
|
February 2011 |
May 2011 |
|
March 2011 |
June 2011 |
|
April 2011 |
July 2011 |
|
May 2011 |
August 2011 |
|
June 2011 |
September 2011 |
|
July 2011 |
October 2011 |
|
August 2011 |
November 2011 |
|
September 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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