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Rubber
Futures Contract Specifications
(Please refer to notes, if any, listed below this contract specifications) |
| Trading system |
NCDEX Trading System |
| Hours of Trading |
Effective on and from December 14, 2004 (please refer circular No. 187 dated December 14, 2004)
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
10:00 AM to 02:00 PM
On the expiry date, contracts expiring on that day will not be available for trading after 5 PM |
| Basis |
RSS 4 (Ribbed Smoked Sheet 4 ) ex designated warehouse Kottayam exclusive of all taxes |
| Unit of trading |
1000 Kgs. (=1 MT) |
| Delivery Unit |
1000 Kgs. (=1 MT) |
| Quotation/Base Value |
Rs per Quintal |
| Tick size |
Re 1 |
| Price Band |
Limit 10%. |
| Quality specification |
Quality Specifications as provided under Part II Section 1 of the "Green Book" as detailed below:
Nothing but coagulated rubber sheets, properly dried and smoked can be used in making these grades: block, cuttings or other scrap or frothy sheets, weak, heated or burnt sheets, air dried or smooth sheets not permissible
Slight resinous matter (rust) and slight amounts of dry mould on wrappers, bale surfaces and interior sheets, found at the time of delivery will not be objected to.
Should "rust" or "dry mould" in an appreciable extent appear on more than 20% of the bales sampled, it shall constitute grounds for rejection.
Medium sized bark particles, bubbles, translucent stains, slightly sticky and slightly over-smoked rubber are permissible to the extent as shown in the sample.
Oxidized spots or streaks, weak, heated, under-cured, over-smoked (in excess of the degree shown in the sample) and burnt sheets are not permissible.
The rubber must be dry, firm and free of blemishes, blisters, sand, dirty packing and all other foreign matter other than those specified above as permissible. |
| Quantity variation |
+/- 2% |
| No. of active contracts |
Maximum 12 monthly or minimum 2 monthly contracts running concurrently. |
| Delivery center |
Kottayam and Kochi * |
| Opening of contracts |
The first contract was launched on April 12, 2004. Subsequently, trading in any contract month will open on the 21st day of the month. |
| Due date |
20th day of the delivery months. If 20th happens to be holiday then the previous trading day. |
| Position limits |
Member-wise: Max (Rs. 20 crore, 15% of open interest)
Client-wise: Max (Rs. 10 crore, 10% of open interest) |
| Premium / Discount |
None |
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*Kochi, as a delivery center, was added on June 9, 2004.
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| NOTE: Please refer our circular No.NCDEX/TRADING-010/2004/034 dated 10-04-2004 wherein it has been stipulated that upon expiry of the contracts, if any Seller with open position desires to give physical delivery at a particular delivery centre, 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. |
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