| Trading system |
NCDEX Trading System |
| Basis |
Ex-cold storage warehouse Muzaffarnagar inclusive of all local taxes |
| Unit of trading |
10 MT |
| Delivery Unit |
10 MT net basis packed in new jute bags. Packaging costs shall be borne by the buyer |
| Quotation/base value |
Rs per 40 Kgs |
| Tick Size |
20 paise |
| Quality Specification |
100% dry golden gur of Chaku type of the following specifications:
Sucrose (on dry basis) percent by mass - 75-80 % min
Reducing sugars (on dry basis) percent by mass - 10-15% max
Moisture - 11 % max
Sulphur dioxide (on dry basis) percent by mass - 150 ppm max
Water insoluble matter (on dry basis) percent by mass - 1.5 % max
Sulphated ash (on dry basis) percent by mass - 3.5% max
Ash insoluble in dilute hydrochloric acid (on dry basis) percent by mass - 0.3% max |
| Also deliverable |
100% dry gur of Balti or Choursa type deliverable at Hapur, Jehangirabad, Kolhapur |
| Quantity variation |
+/- 5 % |
| Delivery Centers |
Muzaffarnagar |
| Additional delivery centres |
Hapur, Kolhapur, Jehangirabad |
| Hours of Trading |
As per directions of the Forward Markets Commission from time to time, currently -
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
Trading Hours - 10.00 AM to 2.00 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 and maximum 12 contracts running concurrently |
| Opening of contracts |
The first set of contracts will be launched on Wednesday, January 5, 2005.
Subsequently, trading in any contract month will open on the 21st day of the month. If the 21st day 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 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 and product specific regulations |
| Price Band |
Limit 8%. |
| Position limits |
Member-wise: 20,000 contracts (2,00,000 MT )
Client-wise: 4,000 contracts (40,000 MT) |
| Special margins |
Special Margins, by way of addition to the normal margins, would be levied on a large unidirectional movement of any gur contract on either the buy or sell side whichever way the movement has happened based on the first day settlement price of that contract and valid for the life of that contract. Special margins would be levied as follows -
A 20 per cent unidirectional movement would attract a special margin of 1 per cent, movement by 25 per cent would attract a special margin of 2 per cent and finally a movement of 30 per cent and above would attract a special margin of 3 per cent |
| Premium/Discount |
Premium/Discount for type of gur:
100% dry gur of Balti type of the same specifications shall be deliverable at Hapur and Kolhapur at premium/discount over/below the traded price for which the premium/discount shall be announced by the Exchange before the expiry of each contract month
100% dry gur of Choursa type of the same specifications shall be deliverable at Hapur and Jehangirabad at premium/discount over/below the traded price for which the premium/discount shall be announced by the Exchange before the expiry of each contract month
Premium/Discount for quality of gur:
The premium/discount for quality of gur shall apply over and above the premium/discount for type of gur
Sucrose (on dry basis) percent by mass
Gur with sucrose (on dry basis) percent by mass of 70-75% max shall be acceptable at a discount of Rs 2 per 40 kgs
Gur with sucrose (on dry basis) percent by mass of 80-85% max shall be acceptable at a premium of Rs 2 per 40 kgs
Gur with sucrose (on dry basis) percent by mass of less than 70% shall be rejected
Reducing sugars (on dry basis) percent by mass
Gur with reducing sugars (on dry basis) percent by mass of 15-20% max shall be acceptable at a discount of Rs 2 per 40 kgs
Gur with reducing sugars (on dry basis) percent by mass of more than 20% shall be rejected
Sulphur dioxide (on dry basis) percent by mass
Gur with sulphur dioxide (on dry basis) percent by mass of 50-70 ppm shall be acceptable at a premium of Rs 2 per 40 kgs
Gur with sulphur dioxide (on dry basis) percent by mass of less than 50 ppm shall be acceptable at a premium of Rs 4 per 40 kgs |
