Futures Contract Specifications

Light Sweet Crude Oil

CRUDEOIL

NCDEX Trading System

100 barrels

50,000 barrels

Rs per barrel*

Re 1.00

Crude oil	API Gravity	Sulphur Content
all crudes which satisfy the following	37-42 degrees	Less than or equal to 0.42%

+/- 1% by volume

FOB Cushing, Oklahoma, United States of America exclusive of all levies and taxes

JNPT/ Mumbai Port.

The buyer shall be responsible for the freight cost, insurance, import duty and all other taxes and levies on actual basis. Freight and Insurance will be paid on actual basis on production of satisfactory documentary evidence from the seller.

Mondays through Fridays - 10:00 AM to 11:30 PM
10:00 AM to 11:55 PM (during US day light saving period)
Saturdays - 10:00AM to 02:00 PM
Expiry Date - at 11:30 PM / 11:55 PM *

All timings are as per Indian Standard Timings (IST)
*during US day light saving period

As per launch calendar

The buyer and seller shall give intentions of taking/giving delivery through the delivery request window at least three trading days prior to the expiry of the contracts and such intentions can be given during 3 days which would be notified separately. This will be matched by exchange for physical delivery as per the process put in place by the Exchange.

All open positions for which delivery intentions have not been received or for which delivery intentions have been rendered but remain unmatched for want of counterparty to settle delivery, will be cash settled at Final settlement Price on the expiry of the contract.

As per launch calendar

As per launch calendar

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.

12,00,000 barrels for Member
4,00,000 barrels for Client

(For hedge limits refer circular no. NCDEX/TRADING-100/2005/219 dated October 20, 2005).

No variation allowed