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Jeera

Futures Contract Specifications
(Please refer to notes, if any, listed below this contract specifications)

Trading system

NCDEX Trading System

Basis

Ex-Unjha (Inclusive of all taxes, but excluding sales tax)

Unit of trading

3 MT

Delivery unit

3 MT

Quotation/base value

Rs per Quintal

Tick size

Re 0.10 (10 paise)

Quality specification

Jeera of fair average quality of the Indian Origin with the following specifications:

Foreign Matter	2.0 % max, allowable up to 3.0 % with a discount of 1:1

Seeds with Stalks	8.0 % max

Edible seeds other than Jeera, Damaged, Discoloured and Weevilled seeds, Shrivelled and Immature seeds	2.0 % max, allowable up to 3.0 % with a discount of 1:1

Test Weight (on count basis)	350 seeds max per 1 gram

Moisture	10.0 % max

Quantity variation

+ - 2%

Delivery center

Unjha

Also deliverable

Jaipur, Jodhpur, Delhi

Hours of Trading

As per directions of the Forward Markets Commission from time to time, currently -

Mondays through Fridays

Morning Session - 10:00 a.m. to 05:00 p.m.
Pre-open Session - 05:25 p.m. to 05:30 p.m.
Evening Session - 05:30 p.m. to 08:00 p.m.

Saturdays - 10.00 a.m. to 2.00 p.m.

On the Expiry Date, contracts expiring on that day will not be available for trading after 5.00 p.m.

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 upon approval of the Forward Markets Commission

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 rules and product specific regulations

Price Band

Limit of 4 per cent

Position limits

Member-wise: 1000 MT in all live contracts

Client-wise: 200 MT in all live contracts

Special Margins

Special Margins, by way of addition to the normal margins, would be levied on a large unidirectional movement of any jeera contract on either the buy or sale side whichever way the movement has happened based on the first day settlement/clearing price of that contract and valid for the life of that contract. Special margins would be levied as follows

A 20 per cent rise or fall from the closing price of opening day would attract a special margin of 4 per cent by buyer or seller depending on whether price rises or falls

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