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Futures Contract Specifications
Applicable for November & December 2004 contracts
(Please refer to notes, if any, listed below this contract specifications) |
| Trading system |
NCDEX Trading System |
| Hours of Trading |
Effective on and from December 14, 2004 (please refer circular No. 187 dated December 14, 2004)
Mondays through Fridays
Morning Session - 10:00 AM to 05:00 PM
Pre-open Session - 05:25 PM to 05:30 PM
Evening Session - 05:30 PM to 08:00 PM
Saturdays
10:00 AM to 02:00 PM
On the expiry date, contracts expiring on that day will not be available for trading after 5 PM . |
| Basis |
Rajasthan Desi ex warehouse Delhi and inclusive of all taxes and levies |
| Unit of trading |
10000 Kgs(=10 MT) |
| Delivery Unit |
10000 Kgs(=10 MT) |
| Quotation/Base Value |
Rs. Per Quintal |
| Tick size |
Re 1 |
| Price Band |
Limits 10%. |
| Deliverable |
Rajasthan Desi, MP Kantawalla |
| Quality specification |
Rajasthan Desi - All lines except Sawai Madhapur and Bharatpur accepted
Foreign Matter(without Mathara and Kesari), Damaged Seeds, Immature Seeds, Shrivelled Seeds- Basis 2%
Green Seeds - Basis 1%
Moisture - Basis 10%
Weeviled - Basis 2%
The material will be tested using a 3.75 number sieve
MP Kantawalla
Foreign Matter - Basis 0.5%
Damaged - Basis 0%
Green Seeds - Basis 1.5%
Moisture - Basis 10%
Weeviled - Basis 2%
The material will be tested using a 4 number sieve |
| Quantity variation |
+/- 5%. Corresponding rates will be applicable if within the permissible variations. |
| No. of active contracts |
Maximum 12 monthly or minimum 2 monthly contracts running concurrently |
| Delivery center |
Delhi - Rajasthan Desi
Indore - MP Kantawalla |
| Opening of contracts |
The first contract was launched on April 12, 2004. Subsequently trading in any contract month will open on the 21st day of the month. |
| Due date |
20th day of the delivery month, if 20th happens to be a holiday then previous trading day |
| Position limits |
Member-wise: Max (Rs.20 crore,15% of open interest)
Client-Wise : Max (Rs.10 crore,10% of open interest) |
| Premium / Discount |
The quality allowance in respect of Gram is as follows:
Rajasthan Desi
Foreign Matter, Damaged Seeds, Immature Seeds,Shrivelled Seeds
Upto 2 % acceptable with no rebate
>2% to 3% on 50% rebate accepted
Above 3% rejected
Green Seeds
Upto 1% acceptable with no rebate
>1% to 2% on 50% rebates accepted
Above 2% -Rejected
Moisture
Upto 10% acceptable with no rebate
>10%to 12% on 100% rebate accepted
Above 12% rejected
Weeviled Seeds
Upto 2% acceptable with no rebate
>2% to10 % on 50% rebate acceptable
Above 10% rejected
MP Kantawalla
Foreign Matter
Upto 0.5 % acceptable with no rebate
> 0.5% to 3%on 100% rebate accepted
Above 3% rejected
Damaged
0% to 1%on 100% rebate accepted
Above 1% rejected
Green Seeds
Upto 1.5% acceptable with no rebate
> 1.5 to 4% on 100% rebates accepted
Above 4% - Rejected
Moisture
Upto 10% acceptable with no rebate
> 10% to 12% on 100% rebate accepted
Above 12% rejected
Weeviled Seeds
Upto 2% acceptable with no rebate
> 2% to10 % on 50% rebate acceptable
above 10% rejected |
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| NOTE: Please refer our circular No.NCDEX/TRADING-013/2004/037 dated 10-04-2004 wherein it has been stipulated that upon expiry of the contracts, if any Seller with open position desires to give physical delivery at a particular delivery centre, 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. |
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NOTE: Please refer our circular No. NCDEX/TRADING-016/2004/049 dated May 13, 2004 regarding the Introduction of trading on Saturdays. In addition to the trading hours mentioned above, trading on Saturdays is as follows :
Trade timings: 10.00 a.m. to 1.00 p.m.
Single Call Market (Closing session) for determination of Closing Price: 1.15 p.m. to 1.30 p.m.
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NOTE: Please refer our circular no. NCDEX/TRADING-027/2004/069 dated June 17, 2004 regarding extension of trading hours on Saturdays. Thus, the trading hours on Saturdays would be as follows:
Trade timings: 10.00 a.m. to 2.00 p.m.
Single Call Market (Closing session) for determination of Closing Price: 2.15 p.m. to 2.30 p.m.
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Futures Contract Specifications
Applicable for contracts expiring on & after january 2005
(Please refer to notes, if any, listed below this contract specifications) |
| Trading system |
NCDEX Trading System |
| Ticker symbol |
CHARJDDEL |
| Basis |
Rajasthan Desi ex-warehouse Delhi inclusive of all taxes and levies |
| Unit of trading |
10 MT |
| Delivery Unit |
10 MT |
| Quotation/Base Value |
Rs. Per Quintal |
| Tick size |
Re 1 |
| Quality specification |
Rajasthan Desi (MP Desi quality meeting the same specifications will be accepted without any price difference)
The material should be free of Mathara and Khesari and live infestation
Foreign Matter-1% max
Green, Immature, Shrunken, Shrivelled Seeds- 3% Brokens, Splits- 2%
Damaged and Weeviled- 3% (Weeviled 2%)
Moisture- 10%
Other Varieties- 1% Max
MP Kantawalla
The material should be free of Mathara and Khesari and live infestation
Foreign Matter-1% max
Green, Immature, Shrunken,
Shrivelled Seeds-3%
Broken, Splits- 3 %
Damaged and Weeviled- 3% (Weeviled max 2%)
Moisture- 10%
Other Varieties- 1% Max |
| Quantity Variation |
+/-5%. Corresponding rates will be applicable if within the permissible variations. |
| Delivery centre |
Rajasthan Desi, MP Desi - Delhi |
| Also deliverable |
MP Kantawalla - Indore |
| Hours of Trading |
Effective on and from December 14, 2004 (please refer circular No. 187 dated December 14, 2004)
Mondays through Fridays
Morning Session - 10:00 AM to 05:00 PM
Pre-open Session - 05:25 PM to 05:30 PM
Evening Session - 05:30 PM to 08:00 PM
Saturdays
10:00 AM to 02:00 PM
On the expiry date, contracts expiring on that day will not be available for trading after 5 PM . |
| 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 |
Minimum 2 contracts with a Maximum of 12 contracts running concurrently |
| Opening of contracts |
The first set of contracts will be launched on October 21, 2004. Subsequently trading in any contract month will open on the 21st day of the month.If 21st happens to be a non-trading day,contracts would open on the next trading day |
| Due date/Expiry date |
20th day of the delivery month
If 20th happens to be a holiday,a Saturday or Sunday then the due date shall be the immediately preceeding trading day of the exchange. |
| Closing of contract |
All open positions will be settled as per general rules and product specific regulations |
| Price band |
Limit of 10 percent of the last traded price of previous trading day or as approved by the Relevant Authority of the Exchange from time to time
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| Position limits |
Member-wise: Rs.20 crores or 15% of open interest , whichever is higer
Client-Wise :Rs.10 crores or 10% of open interest , whichever is higer
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| Premium/ Discount |
Rajasthan Desi
Green, Immature, Shrivelled Seeds
Upto 3% acceptable with no rebate
>3% to 4% on 50% rebate accepted
Above 4% rejected
Brokens, Splits
Upto 2% acceptable with no rebate
>2 % to 3% on 50% rebate accepted
Above 3% rejected
Moisture
Upto 10% acceptable with no rebate
>10 % to 12% on 100% rebate accepted
Above 12% rejected
Damaged, Weeviled Seeds
Upto 3% with no more than 2% Weeviled acceptable, with no rebate
>3%-10% on 50% rebate acceptable
Above 10% rejected
MP Kantawala
Green, Immature, Shrivelled Seeds
Upto 3% acceptable with no rebate
>3% to 4% on 50% rebate accepted
Above 4% rejected
Brokens, Splits
Upto 3% acceptable with no rebate
>3 % to 5% on 50% rebate accepted
Above 5% rejected
Moisture
Upto 10% acceptable with no rebate
>10 % to 12% on 100% rebate accepted
Above 12% rejected
Damaged, Weevilved Seeds
Upto 3% with no more than 2% Weeviled, acceptable with no rebate
>3%-10% on 50% rebate accepted
Above 10% rejected |
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