Free from adulterants like Rice Bran cake, Rice Bran husk, Castor seed husk, safflower cake (Kardi cake)
Quantity variation
+/- 2%
Delivery center
Akola (up to the radius of 50 km from the municipal limits)
Additional delivery centres
Kadi (within a radius of 50 km from the municipal limits) Location wise premium/discount as announced by the Exchange from time to time.
Trading hours
As per directions of the Forward Markets Commission from time to time, currently-
Monday through Friday: 10:00 AM to 05:00 PM
Saturday 10.00 AM to 2.00 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 the immediately preceding trading day of the Exchange
Delivery specification
Upon expiry of the contracts, sellers having open position shall give delivery of the commodity. The corresponding buyers with open position as matched by the process put in place by the Exchange shall be bound to settle by taking physical 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 contract
On the expiry of the contract, all the outstanding position shall be bound to settle by physical delivery
Opening of contracts
Trading in any contract month will open on the 10th day of the month.
If the 10th day happens to be a non-trading day, contracts would open on the next trading day
No. of active contracts
As per the launch calendar
Price limit
Daily price limit of 3% provided that there will be a cooling period of 15 minutes after the trade hits the prescribed daily price limit. Thereafter the price band will be raised upto 4% and trade will be resumed. If the price hits the revised price band again during the day, no trade/ order shall be permitted beyond the revised limit during the day
Position limits
Member level: As per Annexure or 15 % of Market Open Interest whichever is higher
Client level: As per Annexure
The above limits will not apply to bonafide hedgers. For bonafide hedgers, the Exchange will, on a case to case basis, decide the hedge limits.
Near month limit (Applicable from 28 days prior to expiry date of contract)
Member level: 7,200 MT or 15% of market wide near month open-position whichever is higher.
Client level: 2,400 MT
Quality Allowance
(for Delivery)
None
Special Margins
Special margin of 4 % of the value of the contract will be levied whenever the rise or fall in price exceeds 20 % of the 90 days prior settlement price. The margin will be payable by the buyers or the seller depending on whether price rises or falls respectively. The margins shall remain in force so long as the price stays beyond the 20 % limit and will be withdrawn as soon as the price is within the 20 % limit.
COMMODITY: COTTONSEED OILCAKE (Akola)
Commodity Specifications
Basis
Acceptable quality range as per contract specification
Permissible Tolerance
Moisture Content
9% (Max)
Oil Content
6 % (Min)
+/- 0.25%
Fibre
27 % (Max)
+/- 0.25%
Sand and Silica
2.5 % (Max)
+/- 0.25%
Protein
22% (Min)
+/- 0.25%
Colour
Greenish yellow
Max Tolerance (for all characteristics)
+/- 0.75%
Note: Tolerance limit is applicable only for outbound deliveries. Variation in quality parameters within the prescribed tolerance limit as above will be treated as good delivery when members/clients lift the materials from warehouse. These permissible variations shall be based on the parameters found as per the immediate preceding test certificate given by NCDEX approved assayer.
Launch Calendar for Cotton Seed Oil Cake Akola contract
Contract Launch Month
Contract Expiry Month
April 2009
August 2009
May 2009
September 2009
July 2009
December 2009
Modified Contract Specifications applicable for contracts expiring in January 2010 onwards
Type of Contract
Futures Contract Specifications
Name of Commodity
Undecorticated Cotton seed oil cake - Akola
Ticker symbol
COCUDAKL
Trading System
NCDEX Trading System
Basis
Ex-Warehouse Akola, inclusive of sales tax
Unit of trading
10 MT
Delivery unit
10 MT
Quotation/base value
Rs. Per Quintal
Tick size
50 Paisa
Quality specification
Pure unadulterated cotton seed oil cake in pellet form
Free from adulterants like Rice Bran cake, Rice Bran husk, Castor seed husk, safflower cake (Kardi cake)
Quantity variation
+/- 2%
Delivery center
Akola (up to the radius of 50 km from the municipal limits)
Additional delivery centres
Kadi (within a radius of 50 km from the municipal limits) Location wise premium/discount as announced by the Exchange from time to time.
Trading hours
As per directions of the Forward Markets Commission from time to time, currently-
Monday through Friday: 10:00 AM to 05:00 PM
Saturday 10.00 AM to 2.00 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 the immediately preceding trading day of the Exchange
Delivery specification
Upon expiry of the contracts, sellers having open position shall give delivery of the commodity. The corresponding buyers with open position as matched by the process put in place by the Exchange shall be bound to settle by taking physical 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 contract
On the expiry of the contract, all the outstanding position shall be bound to settle by physical delivery
Opening of contracts
Trading in any contract month will open on the 10th day of the month.
If the 10th day happens to be a non-trading day, contracts would open on the next trading day.
No. of active contracts
As per the launch calendar
Price limit
Daily price limit of 3% provided that there will be a cooling period of 15 minutes after the trade hits the prescribed daily price limit. Trade will be allowed during this cooling off period within the price band. Thereafter the price band will be raised upto 4% and trade will be resumed. If the price hits the revised price band again during the day, no trade/ order shall be permitted beyond the revised limit during the day
Position limits
Member level: As per Annexure or 15 % of Market Open Interest whichever is higher
Client level: As per Annexure
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 .
Near month limit (Applicable from 28 days prior to expiry date of contract)
Member level: 7,200 MT or 15% of market wide near month open-position whichever is higher.
Client level: 2,400 MT
Quality Allowance
(for Delivery)
None
Special Margins
Special margin of 4 % of the value of the contract will be levied whenever the rise or fall in price exceeds 20 % of the 90 days prior settlement price. The margin will be payable by the buyers or the seller depending on whether price rises or falls respectively. The margins shall remain in force so long as the price stays beyond the 20 % limit and will be withdrawn as soon as the price is within the 20 % limit.
Tolerance Limit: COTTONSEED OIL CAKE
Commodity Specifications
Basis
Acceptable quality range as per contract specification
Permissible Tolerance
Moisture Content
9% (Max)
Oil Content
6 % (Min)
+/- 0.25%
Fibre
27 % (Max)
+/- 0.25%
Sand and Silica
2.5 % (Max)
+/- 0.25%
Protein
22% (Min)
+/- 0.25%
Colour
Greenish yellow
Max Tolerance (for all characteristics)
+/- 0.75%
Contract Launch calendar
Contract Launch Month
Contract Expiry Month
July 2009
January 2010
August 2009
February 2010
September 2009
March 2010
October 09
No Launch
November 09
No Launch
December 2009
April 2010
January 2010
May 2010
February 2010
June 2010
March 2010
July 2010
April 2010
August 2010
May 2010
September 2010
June 2010
December 2010
Annexure - Position Limits at Commodity Level (in MT)
COCUDCAKL (applicable for contracts expiring upto December 2009)
COCUDAKL (applicable for contracts expiring in January 2010 onwards)
Date
MEMBER
CLIENT
MEMBER
CLIENT
Up to 22-Jul-2009
36,000
12,000
-
-
From 23-Jul-09 to 09-Aug-09
27,000
9,000
9,000
3,000
From 10-Aug-09 to 20-Aug-09
21,600
7,200
14,400
4,800
From 21-Aug-09 to 09-Sep-09
18,000
6,000
18,000
6,000
From 10-Sep-09 to 18-Sep-09
14,400
4,800
21,600
7,200
From 19-Sep-09 to 09-Dec-09
9,000
3,000
27,000
9,000
From 10-Dec-09 to 18-Dec-09
7,200
2,400
28,800
9,600
19-Dec-09 Onwards
-
-
36,000
12,000
Please note that as per the contract specifications, for individual symbols COCUDCAKL and COCUDAKL, the upper limit at Member level would be either the maximum absolute limit mentioned in the table above or 15% of Market Open Interest, whichever is higher.
