Silver Futures Contract Specifications

Silver

SILVER5AHM

NCDEX Trading System

Ex-Ahmedabad inclusive of Customs Duty, exclusive of local sales tax/VAT.

5 Kg

5 kg

Rs per Kg of Silver with 999 fineness

Re. 1

Not less than 999 fineness bearing a serial number and identifying stamp of a refiner approved by the Exchange.

List of approved refiners:
www.ncdex.com\downloads\refiners_silver.pdf

+/- 6 per cent

Ahmedabad

New Delhi

Location Premium/Discount as notified by the Exchange from time to time.

As per directions of the Forward Markets Commission from time to time, currently) -

Mondays through Fridays : 10:00 AM to 11:30 PM
Saturdays : 10:00 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.

20th day of the delivery month

If 20th happens to be a holiday; a Saturday or a Sunday then the due date shall be the immediately preceding trading day other than a Saturday of the Exchange.

Upon expiry of the contracts, the delivery position would be arrived at by the Exchange as per the process put in place by the Exchange for effecting physical delivery based on the information to give/take delivery furnished by the sellers and buyers.

On expiry of the contract, all outstanding positions not resulting in giving/taking of physical delivery of the commodity shall be closed out at the Final Settlement Price announced by the Exchange

Trading in any contract month may open on the 10th day of the month in which the near month contract is due to expire. If the 10th day happens to be a non-trading day, contracts would open on the next trading day.

As per launch calendar

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.

On the first day of any new contract, the limit on daily price fluctuation will be reckoned with reference to the opening price. On the second and subsequent days, the daily price fluctuation limit will be reckoned with reference to the mark-to-market rate of the previous closing rate.

Member-wise : 150 MT or 15% of market-wide open position whichever is higher.

Client-wise : 50 MT

(The above limits will not apply to bona fide hedgers. For bonafide hedgers, the Exchange will, on a case to case basis decide the hedge limits.)

Silver bars of 999 fineness. No premium/discount.

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.