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Mulberry Raw Silk

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

Trading system	NCDEX Trading System
Basis	Ex-warehouse, Bangalore inclusive of all taxes
Unit of trading	60 Kg
Delivery unit	60 Kg
Quotation/base value	Rs./kg
Tick size	Rs.5.00
Quality specification	Mulberry Crossbreed (CB) /Bivoltine (B) Filature Raw Silk Futures Contract Basis: Indicative Grade 2A a.Basis Fineness:20 /22 b.Size Deviation:</=1.6 c.Max. Deviation:</= 4.3 d.Winding Breaks:</=3 Also Deliverable : Indicative Grades 4A, 3A, A and B 2.Moisture: Conditioned weight(moisture 11% regain)
Quantity variation	+/- 5% for total weight of each deliverable lot
Delivery center	Bangalore
Also deliverable	Dharmavaram, Kancheepuram. Imported raw silk, only at Varanasi, Uttar Pradesh
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 Trading Hours - 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 on January 20,2005. 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 Limit	12 per cent
Position limits	Member-wise: 75 MT (75,000 kg) Client-wise: 15 MT (15,000 kg)
Special Margins	Special Margins, by way of addition to the normal margins, would be levied on a large unidirectional movement of any raw silk contract on either the buy or sale side whichever way the movement has happened based on the first day settlement price of that contract and valid for the life of that contract. A unidirectional movement of 20 per cent and above would attract a special margin of 1 per cent, movement of 25 per cent and above would attract a special margin of 2 per cent and finally a movement of 30 per cent and above would attract a special margin of 3 per cent .

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