| Type of Contract |
Futures Contract Specifications |
| Name of Commodity |
NICKEL CATHODE |
| Ticker symbol |
NICKEL |
| 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 |
250 Kgs, (Two Hundred and Fifty Kilograms) |
| Delivery unit |
250 Kgs, (Two Hundred and Fifty Kilograms) |
| Quotation/base value |
Rs per KG |
| Tick size |
Re. 0.05/- per KG (Five Paise ) |
| Quality specification |
4" X 4" Cut Cathodes, Primary Nickel of 99.80% minimum purity with chemical analysis conforming to the ASTM B-39/79 specification |
| Quantity variation |
+/- 25 KGs or 2% whichever is lower |
| Delivery centre |
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 PM
Saturdays - 10:00AM to 02:00 PM
Expiry Date - at 11:30 PM
All timings are as per Indian Standard Timings (IST)
The Exchange may change the above timing with due notice. |
| Delivery specification |
The buyer and seller shall mark intentions of taking/giving 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. |
| Delivery Logic |
Intention Matching |
| 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 daily price limit, the price limits will be relaxed up to (+/-) 6% without any break/ cooling off period in the trade. In case the daily price limit of (+/-) 6% is 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 |
For member: 2,500 Metric Tonnes or 20 % of the market open position, whichever is higher.
For individual client : 500 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 Margins |
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. |
