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.
