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Futures Contract Specifications ( Applicable for contracts expiring in January 2010 and onwards )
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Futures Contract Specifications.Updated as on 7 September 2009 ( Applicable
for contracts expiring in January 2010 and thereafter )
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| Type of Contract |
Futures Contract Specifications
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| Name of Commodity |
Refined Soy oil |
| Ticker symbol |
SYOREFIDR |
| Trading System |
NCDEX Trading System |
| Basis |
Ex-tank, Indore inclusive
of all taxes |
| Unit of trading |
10 MT |
| Delivery unit |
10 MT |
| Quotation/base value |
Rs. per 10 Kg |
| Tick size |
5 Paise |
| Quality specification
|
Refined Soy Oil with
the following specifications:
| Moisture & insoluble impurities, % Max:
0.10 |
| Color, " cell, Lovibond Y+5R, Max: 4
|
| Refractive Index at 40C: 1.4650-1.4710 |
| Specific Gravity at 30C 25/25: 0.917-0.921
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| Saponification Value: 189-195 |
| Iodine Value (Wijs): 120-141 |
| Unsaponifiable matter, % by mass, Max: 1.5 |
| FFA, % Max: 0.25 |
| Flash point, Pensky Martin Method, C, Min:
250 |
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| Quantity variation |
+/- 2% |
| Delivery center |
Indore (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 :10:00 AM to 05:00 PM
Saturdays
: 10.00 AM to 2.00 PM
The Exchange may vary 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. |
| 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. |
| Closing of contract |
On the expiry of the
contract, all outstanding positions not resulting in giving/taking
of physical delivery of the commodity shall be closed out at the Final
Settlement Price which shall be worked out on the basis of
simple average of last 3 day’s spot 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. |
| No. of active contracts |
As per launch calendar |
| Price limit |
Daily price fluctuation limit
is (+/-) 3%. If the trade hits the prescribed daily price limit there
will be a cooling off period for 15 minutes. Trade will be allowed
during this cooling off period within the price band. Thereafter the
price band would be raised by (+/-) 1% and trade will be resumed.
If the price hits the revised price band (+/-) 4% again during the
day, trade will only be allowed within the revised price band. No
trade / order shall be permitted during the day beyond the revised
limit of (+ / -) 4% |
| Position limits |
Member level:
60,000 MT or 15 % of Market OI, whichever is higher
Client
level: 20,000 MT
The above limits will not apply to bona fide hedgers. For bonafide
hedgers, the Exchange will, on a case to case basis decide the hedge
limits.
Near month limit (Applicable from 28 days
prior to expiry date)
Member level: 18,000
MT or 15% of the market-wide near month open position, whichever is
higher.
Client level: 6,000 MT |
| Premium/Discount |
None |
| Delivery Option |
Both Options |
| Special Margin |
In case of additional volatility,
a special margin at such other percentage, as deemed fit, will be
imposed in respect of outstanding positions, which will remain in
force as long as the volatility exists, after which the special margin
may be relaxed |
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* Indicates Simple average of the last spot prices of the
last 3 days
Contract Launch Calendar for Refined Soy Oil :-
| Contract Launch Month |
Contract Expiry Month |
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May 2010 |
August 2010 |
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June 2010 |
September 2010 |
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July 2010 |
October 2010 |
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August 2010 |
November 2010 |
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September 2010 |
December 2010 |
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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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April 2011 |
July 2011 |
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May 2011 |
August 2011 |
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June 2011 |
September 2011 |
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July 2011 |
October 2011 |
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August 2011 |
November 2011 |
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September 2011 |
December 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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