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Myanmar Origin Lemon Tur

Type of contract

Futures Contract Specifications

Name of commodity

Lemon Tur

Ticker symbol

TURLMNMUM

Trading system

NCDEX Trading System

Basis

Ex-warehouse Mumbai inclusive of all taxes

Unit of trading

10 MT (10 MT = 10,000 Kgs)

Delivery unit

10 MT (10 MT = 10,000 Kgs) gross to net 50 kgs packed in single/double PP or jute bags

Quotation/ Base value

Rs per quintal

Tick size

Re. 1

Quality specification

Myanmar Origin Lemon Tur with the following specifications:

Foreign matter (includes dust, sand and other admixtures)	2% max
Damaged otherwise (including immature, shriveled, heated fungi and discoloured grains), Brokens and Weeviled Seeds	10% max
Moisture	14% max
Crop year	Current

The material will be tested on 3mm sieve.
The material should be free of live infestation.

Quantity variation

+/- 3%. Corresponding rates will be applicable, if within the permissible limits

Delivery center

Mumbai

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.

The Exchange may vary the above timing with due notice.

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 Friday, April 8, 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 rules and product specific regulations

Price band

Limit of 5%

Position limits

Member-wise: 6,250 contracts (62,500 MT)
Client-wise: 1,250 contracts (12,500 MT)

Special margins

Special margin of 4% of the value of the contract whenever the rise or fall in price from the first day's closing price of 20% payable by buyer or seller depending on whether prices rise or falls respectively

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