Futures Contract Specifications

Almond

BADAM

NCDEX Trading System

Ex-Delhi exclusive of taxes

900Kg

900Kg

Rs per Kg

Rs 0.25 (i.e. 25 paise)

Delhi (Up to the radius of 50 Km from the municipal limits)

Navi Mumbai (Up to the radius of 50 Km from the municipal limits) with location wise premium/discount as announced by the Exchange from time to time

Nonpareil variety of Almond
Light-medium brown coloured Kernels
Count: Max 30/Oz (28.35g)
Chips* and Scratches** total: 5% max(Chips 1% max)
Moisture: 5% max (surface moisture 1% max)
Foreign Matter: 0.02% max
Dissimilar: 5% max
Doubles(Twins): 5% max
Splits and broken#: 1% max
Other defects: 4% max, Other defects include

• Gum- more than 6mm in diameter
• Shriveling: less than 3/4 of pellicle filled
• Brown spot more than 3mm in diameter

Serious defects: 0.5% max (includes decay, rancidity, insect injury, damage by mold)

*Chipped Kernel: mechanically damaged kernel which contains aggregate damage of more than equivalent of a circle of 3 mm diameter in depth

**Scratched Kernel: superficially mechanically damaged kernel with absence of part of the skin, containing aggregate scratched areas of more than equivalent of a circle of 3 mm in diameter

#Splits and Broken: Mechanically damaged kernel from which more than 1/8th of the kernel is missing (not passable through a 3.2mm diameter sieve)

+/- 2%

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

Mondays through Fridays: 10:00 a. m. to 5:00 p.m.
Saturdays: 10.00 a.m. to 2.00 p.m.

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 of the Exchange

The final settlement price shall be the polled spot price of the basis centre on the day of expiry.

Upon expiry of the contract all outstanding positions will result in 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

Compulsory Delivery

Trading in any contract month will open on the 10th day of the month. If 10th happens to be a non-trading day, contracts would open on the next trading day

On the expiry of the contract, all the outstanding position would have to be settled by physical delivery

As per launch calendar

Daily price fluctuation limit is (+/-) 3%. If the trade hits the prescribed daily price limit there will be a cooling off period for 15 minutes. Trade will be allowed during this cooling off period within the price band. Thereafter, the price band would be raised by (+/-) 1% and trade will be resumed.

If the price hits the revised price band (4%) again during the day, trade will only be allowed within the revised price band. No trade / order shall be permitted during the day beyond the revised limit of (+/-) 4%.

Member: Maximum of 360 MT for all contracts or 15% of market open position whichever is higher

Client: Maximum of 120 MT for all contracts

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.

For near month contracts:

The following limits would be applicable from one month prior to expiry date of a contract

Member: Maximum of 120 MT or 15% of the market-wide near month open position, whichever is higher.

Client: 40 MT

In case of additional volatility, a special margin at such other 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