| Trading System |
NCDEX Trading System |
| Ticker symbol |
COTTONGUJ |
| Basis |
Ex-warehouse Kadi, exclusive of all taxes |
| Unit of trading |
50 Bales with each bale of 170 kg (= 85 Quintals) |
| Delivery unit |
50 Bales with each bale of 170 kg (= 85 Quintals) |
| Quotation/base value |
Rs./Candy (3.5562 Quintals) |
| Tick size |
Re 10 |
| Quality specification |
INDIAN 28.5 mm COTTON
a. Staple length: As per HVI mode of assaying
1.Basis:28.5 mm
2. No premium above 28.5mm
3. 28.0mm – 28.4mm = -Rs.350/- per Candy
4.Below 28.0mm = Rejected
b. Micronaire
Basis: 3.7 - 4.8 with no premium/discount
c. Strength: With HVI mode of assaying
Basis: Min. 28 G/Tex with no premium above 28 G/Tex
d. Grades (On HVI Mode of Testing)
1. Basis: 31-1,31-2,31-3,41-1
2. 21-2 and above = No Premium
3. Tenderable Grades:31-4,41-2, 41-3 = -300/- per Candy
4. Below Tenderable Grades = Rejected
e. Moisture
1. Basis: 8 %
2. No Premium below 8%
3. Acceptable upto 8.5% with a discount of 1:1,
4. Above 8.5% Rejected
f. Trash content
Basis: Max. 3% with no premium below 3% |
| Quantity variation |
+/- 5% for total weight of each deliverable lot |
Locational Premium
and discount with respect to basis center |
Goods can also be tendered at Rajkot . The deliveries at Rajkot would be at par with Kadi deliveries. |
| Trading and Delivery months |
January, February, March, April, May, June, July, August, October, November and December |
| Delivery center |
Kadi (Gujarat) |
| Also deliverable |
Also deliverable at Rajkot |
| Trading hours |
As per directions of the Forward Markets Commission from time to time, currently
Mondays through Fridays : 10:00 AM to 05:00 PM
Saturdays : 10.00 AM to 2.00 PM
The Exchange may vary the above timing with due notice |
| Delivery specification |
Upon expiry of the contracts, if any seller with open position desires to give delivery at a particular delivery center, then the corresponding buyer with open position as matched by the process put in place by the Exchange shall be bound to settle by taking physical delivery |
| No. of active contracts |
As per launch calendar |
| Opening of contracts |
Trading in new contract month(s) will open on the 10th day of the month. If 10th day happens to be a non- trading day then the contract will open on the next trading day. |
| Due date/Expiry date |
20th day of the delivery month
If 20th day happens to be a holiday, a Saturday or a Sunday then the due date shall be the immediately preceding trading day of the Exchange |
| Closing of contract |
All open positions will be settled as per general rules and product specific regulations |
| Price band |
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 shall be raised by another (+/-) 1% and trade will be resumed. If the price hits the revised price band 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%. |
| Position limit |
• Member: Maximum of 60,000 bales or 15% of market wide open position whichever is higher.
• Client: Maximum of 20,000 bales. 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.
For near month contracts:
The following limits would be applicable from 10 days prior to expiry date of a contract
• Member: Maximum up to 12,000 Bales or 15% of market wide near month open position, whichever is higher
• Client: Maximum up to 4,000 Bales |
| 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. |
