Futures Contract Specifications.Updated as on 4 December 2008
Type of Contract
Futures Contract Specifications
Name of Commodity
Refined Soy oil
Ticker symbol
SYOREFIDR
Trading System
NCDEX Trading System
Basis
Ex-tank, Indore 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
Refined Soy Oil with the following specifications:
Moisture & insoluble impurities, % Max: 0.10
Color, " cell, Lovibond Y+5R, Max: 4
Refractive Index at 40C: 1.4650-1.4710
Specific Gravity at 30C 25/25: 0.917-0.921
Saponification Value: 189-195
Iodine Value (Wijs): 120-141
Unsaponifiable matter, % by mass, Max: 1.5
FFA, % Max: 0.25
Flash point, Pensky Martin Method, C, Min: 250
Quantity variation
+/- 2%
Delivery center
Indore (within a radius of 50 km from the municipal limits)
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.
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, 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.
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
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 limit
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%
Position limits
Member level: 60,000 MT or 15 % of Market OI, whichever is higher Client level: 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
Near month limit (Applicable from 28 days prior to expiry date) Member level: 18,000 MT or 15% of the market-wide near month open position, whichever is higher Client level: 6,000 MT
Premium/Discount
None
Delivery Option
Both Options
Contract Launch Calendar
Contract Launch Month
Contract Expiry Month
December 4, 2008
January 2009
December 4, 2008
February 2009
December 10, 2008
March 2009
January 2009
April 2009
February 2009
May 2009
March 2009
June 2009
April 2009
July 2009
May 2009
August 2009
June 2009
September 2009
July 2009
October 2009
August 2009
November 2009
September 2009
December 2009
Futures Contract Specifications.Updated as on 7 September 2009 ( Applicable for contracts expiring in January 2010 and thereafter )
Type of Contract
Futures Contract Specifications
Name of Commodity
Refined Soy oil
Ticker symbol
SYOREFIDR
Trading System
NCDEX Trading System
Basis
Ex-tank, Indore 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
Refined Soy Oil with the following specifications:
Moisture & insoluble impurities, % Max: 0.10
Color, " cell, Lovibond Y+5R, Max: 4
Refractive Index at 40C: 1.4650-1.4710
Specific Gravity at 30C 25/25: 0.917-0.921
Saponification Value: 189-195
Iodine Value (Wijs): 120-141
Unsaponifiable matter, % by mass, Max: 1.5
FFA, % Max: 0.25
Flash point, Pensky Martin Method, C, Min: 250
Quantity variation
+/- 2%
Delivery center
Indore (within a radius of 50 km from the municipal limits)
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.
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, 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.
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 which shall be worked out on the basis of simple average of last 3 day's spot price, announced by the Exchange*
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 limit
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%
Position limits
Member level: 60,000 MT or 15 % of Market OI, whichever is higher Client level: 20,000 MT
The above limits will not apply to bona fide 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)
Member level: 18,000 MT or 15% of the market-wide near month open position, whichever is higher. Client level: 6,000 MT
Premium/Discount
None
Delivery Option
Both Options
Special Margin
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
* Indicates Simple average of the last spot prices of the last 3 days
