Jaipur (up to the radius of 50 km from the municipal limits)
Additional delivery centres
Alwar (Rajasthan), Kota (Rajasthan), Sri Ganganagar (Rajasthan),Bikaner (Rajasthan), Hapur (Uttar Pradesh), Agra (Uttar Pradesh) (At all centers, 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
Trading hours
As per directions of the Forward Markets Commission from time to time, currently -
Mondays through Fridays: 10:00 a. m. to 05:00 p.m.
Saturdays: 10.00 a.m. to 2.00 p.m.
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 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.
Delivery Logic
Compulsory Delivery
Closing of contract
Upon the expiry of contract all outstanding open positions would result in 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 launch calendar
Price limits
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 again hits the revised price band (4%) 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 limits
Member-wise: 60,000 MT or 15% of Market open interest whichever is higher
Client-wise : 20,000 MT
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 28 days prior to expiry date of a contract.
Member : 18,000 MT or 15% of the market-wide near month open position, which ever is higher
Client: 6,000 MT
Premium/Discount
Quality delivery with variation shall be acceptable with premium/discount as under:
Moisture:
From 5% to 6.5% accepted at 1:1 discount or part there of
Above 6.5% rejected
Oil Content:
From 42% to 37% accepted at 1:1 discount or part there of
More than 42% accepted at 1:1 premium or part there of
Below 37% rejected
Foreign matter:
From 0.25% to 2% accepted at 1:1 discount or part there of
Above 2% rejected
Free from non-edible seeds such as Mahuas, Castor, Neem, Taramira and Argemone seeds. Should be free from any foul odor.
Tolerence Limit of Rapeseed Mustard Seed:-
Commodity Specifications
Basis
Acceptable quality range as per contract specification
Permissible Tolerance
Moisture content
5% (basis)
From 5% to 6.5% accepted at 1:1 discount or part thereof, Above 6.5 % rejected
Oil Content (at 5% moisture content level)
42% (basis)
42% delivery at par From 42% to 37% accepted at 1:1 discount or part thereof, More than 42% accepted at 1:1 premium or part thereof, Below 37% rejected
+/-0.25%
FFA
1.5% (max)
Foreign Matter
0.25% (basis)
From 0.25% to 2% accepted at 1:1 discount or part thereof, Above 2 % rejected
+/-0.25%
Max Tolerance (for all characteristics)
+/-0.25%
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.
Annexure A: Contract Launch Calendar :
Contract Launch Month
Contract Expiry Month
July 2009
November 2009
Aug 2009
December 2009
Sep 09
January 2010
Futures Contract Specifications ( Applicable for contracts expiring in April 2010 and thereafter )
Updated as on 01 December 2009.
Jaipur (up to the radius of 50 km from the municipal limits)
Additional delivery centres
Alwar (Rajasthan), Kota (Rajasthan), Sri Ganganagar (Rajasthan),Bikaner (Rajasthan), Hapur (Uttar Pradesh), Agra (Uttar Pradesh) (At all centers, up to the radius of 50 km from the municipal limits)
(Premium/discount for all centres will be announced at the time of launching a contract)
Trading hours
As per directions of the Forward Markets Commission from time to time, currently -
Mondays through Fridays: 10:00 a. m. to 05:00 p.m.
Saturdays: 10.00 a.m. to 2.00 p.m.
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 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.
Delivery Logic
Compulsory Delivery
Closing of contract
Upon the expiry of contract all outstanding open positions would result in 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 launch calendar
Price limits
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 again hits the revised price band (4%) 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 limits
Member-wise: 60,000 MT or 15% of Market open interest whichever is higher
Client-wise : 20,000 MT
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 28 days prior to expiry date of a contract
Member : 18,000 MT or 15% of the market-wide near month open position, which ever is higher
Client: 6,000 MT
Premium/Discount
Quality delivery with variation shall be acceptable with premium/discount as under:
Moisture:
From 5% to 6.5% accepted at 1:1 discount or part there of
Above 6.5% rejected
Oil Content:
From 42% to 37% accepted at 1:1 discount or part there of
More than 42% accepted at 1:1 premium or part there of
Below 37% rejected
Foreign matter:
From 0.25% to 2% accepted at 1:1 discount or part there of
Above 2% rejected
Free from non-edible seeds such as Mahuas, Castor, Neem, Taramira and Argemone seeds. Should be free from any foul odor.
Tolerence Limit of Rapeseed Mustard Seed:-
Commodity Specifications
Basis
Acceptable quality range as per contract specification
Permissible Tolerance
Moisture content
5% (basis)
From 5% to 6.5% accepted at 1:1 discount or part thereof, Above 6.5 % rejected
Oil Content (at 5% moisture content level)
42% (basis)
42% delivery at par From 42% to 37% accepted at 1:1 discount or part thereof, More than 42% accepted at 1:1 premium or part thereof, Below 37% rejected
+/-0.50%
FFA
1.5% (max)
Foreign Matter
0.25% (basis)
From 0.25% to 2% accepted at 1:1 discount or part thereof, Above 2 % rejected
+/-0.25%
Max Tolerance (for all characteristics)
+/-0.50%
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.
