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Contract Specifications for Kachhi Ghani Mustard Oil ( updated as on 8 January, 2010 )
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Contract Launch Calendar
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Contract Specifications for Kachhi Ghani Mustard Oil.
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| Type of Contract |
Futures Contract Specifications
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| Name of Commodity |
Kachhi Ghani Mustard Oil |
| Ticker symbol |
KACHIGHANI |
| Trading System |
NCDEX Trading System |
| Basis |
Ex-tank Jaipur (Exclusive
of sales tax) |
| Unit of trading |
10 MT |
| Delivery unit |
10 MT |
| Quotation/base value |
Rs. per 10 Kg |
| Tick size |
Re. 0.05 (5 paisa) |
| Quality specification
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Parameters
Kachhi Ghani Mustard Oil shall be clear, free from rancidity, suspended
or foreign matter, separated water, added colouring or flavouring
substances or mineral oil. It shall conform to the following standards:
- Colour on Lovibond scale in ( 1/4 " Cell) as Y + 5R, units
- 50
- Acid Value as % Oleic Acid -1.5% Maximum
- Iodine Value (wijs method) - 98 to 110
- Bellier's Test (Turbidity Temp.) - 23.0 to 27.5 degrees celcius
- Saponification Value - 169 to 177
- Unsaponifiable matter - 1.2%max
- Refractive Index at 40 Degree Cel. - 1.4646 to 1.4662
- Test for Argemone oil - Negative
- Test for mineral oil - Negative
- Percentage of natural oil content (as ATC) weight percentage
- 0.25 to 0.60
- Test for the presence of Hydrocyanic acid - Negative
- Specific Gravity at 30 Deg. Celcius - 0.907 to 0.910
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| Quantity variation |
+/- 2% |
| Delivery center |
Jaipur (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
Trading Hours - 10:00 am to 5:00 pm
Saturdays
Trading Hours - 10:00 am to 2:00 pm
The Exchange may change 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
which is not a Saturday |
| Final Settlement Price |
The Final Settlement Price (FSP)
would be the simple average of the last spot (polled) prices of Kachhi
Ghani Mustard Oil of the last 3 days. |
| 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 |
| Delivery logic |
Intention matching
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| Closing of contract |
On the expiry of the
contract, all outstanding positions which are not intended for 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
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| No. of active contracts |
As per launch calendar |
| Price band |
The daily price limit
will be 2% and will be raised to 4% after a 15-minute cooling period
if the price limit of 2% is reached. If the price limit reaches 4%,
trading will continue within the 4% limit. |
| Position limits |
Member level : Maximum
of 18,000 MT or 15 % of Market Open Position in the commodity, whichever
is higher
Client level: 6,000 MT
Hedge position as indicated vide Commission’s letter no. 4/4/2005-NCDEX/COMPL
dated 4/10/2005
Near month limit (The following limits would be applicable from 28
days prior to expiry date of a contract)
Member Level: Maximum of 6,000 MT or 15 % of total near month Open
Position in the commodity, whichever is higher
Client Level: 2,000 MT |
| Premium/Discount |
No quality allowance |
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Contract Launch Calendar:- 2010
| Contract Launch Month |
Contract Expiry Month |
| January 2010 |
February 2010 |
| March 2010 |
| April 2010 |
| February 2010 |
May 2010 |
| March 2010 |
June 2010 |
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Contract Launch Calendar :
| Contract Launch Month |
Contract Expiry Month |
| April 2010 |
July 2010 |
| May 2010 |
August 2010 |
| June 2010 |
September 2010 |
| July 2010 |
October 2010 |
| August 2010 |
November 2010 |
| September 2010 |
December 2010 |
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Contract Launch Calendar of Kachi Gaani Mustard Oil ( KGMO ) :-
| Contract Launch Month |
Contract Expiry Month |
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October 2010 |
January 2011 |
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November 2010 |
February 2011 |
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December 2010 |
March 2011 |
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January 2011 |
April 2011 |
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February 2011 |
May 2011 |
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March 2011 |
June 2011 |
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Members and market participants who enter into buy and sell transactions may
please note that they need to be aware of all the factors that go into the
mechanism of trading and clearing, as well as all provisions of the Exchange's
Bye Laws, Rules, Regulations, Product Notes, circulars, directives,
notifications of the Exchange as well as of the Regulators, Governments and
other authorities.
Members and market participants trading on the Exchange in the
commodity contracts shall be deemed to be aware of applicable laws and
amendments thereof from time to time, including provisions and rates relating
to the sales tax, value added tax APMC Tax, Mandi Tax, octroi, excise duty,
stamp duty, etc., applicable on the underlying commodity of any contract
offered for trading.
The Exchange shall not be responsible or liable on account of non
compliance by any of the members and market participants of any such applicable
laws or any amendments thereof including not being aware of rates of taxes,
levies, etc., on the underlying commodity of any contract offered for trading.
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