Futures Contract Specifications. Updated as on 18 November 2008.
Type of Contract
Futures Contract Specifications
Name of Commodity
RBD Palmolein
Ticker symbol
RBDPLNKAK
Trading System
NCDEX Trading System
Basis
Ex-tank Kakinada inclusive of all taxes
Unit of trading
10 MT
Delivery unit
10 MT
Quotation/base value
Rs per 10 kg
Tick size
5 Paise
Quality specification
Moisture & insoluble impurities, % Max: 0.10
Color, 5 ¼" cell, Lovibond scale, Max: 3R/30Y
Refractive Index at 50°C: 1.4550-1.4610
Saponification Value: 195-205
Iodine Value (Wijs): 54-62
Unsaponficable matter, % by mass, Max: 1.2
FFA, % Max: 0.10
Cloud Point, °C, Max: 18
Flash Point, Penske-Martin Method °C, Min: 250
Quantity variation
+ /- 2%
Delivery center
Kakinada (within a radius of 50 km from the municipal limits)
Hours of Trading
As per directions of the Forward Markets Commission from time to time, currently-
Mondays through Fridays : 10:00 AM to 5:00 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 contract, the delivery position would be arrived at by the Exchange based on the information to give/take delivery furnished by the sellers and buyers as per the process put in place by the Exchange for effecting physical delivery
No. of active contracts
As per launch calendar
Opening of contracts
Trading in any contract month will open 10th day of the month. If the 10th day happens to be a non-trading day, contracts would open on next trading day.
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, which is not a Saturday
Closing of contract
On the 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
Price band
Daily price limit will be 2%. 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, price limit would be extended by another (+/-) 2%. No trade would be permitted during the day beyond the price limit of (+/-) 4% from the previous day's closing price.
Position limits
Member level: 22,500 MT or 15 % of Market OI, whichever is higher
Client level: 7,500 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.
Near month limit (Applicable from 28 days prior to expiry date)
Member level: 4,500 MT or 15% of the market-wide near month open position, whichever is higher
Client level: 1,500 MT
