| 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 |
Unpolished turmeric fingers Nizamabad quality ex warehouse Nizamabad inclusive of all taxes |
| Unit of trading |
10 MT |
| Delivery Unit |
10 MT |
| Quotation/Base Value |
Rs. per Quintal |
| Tick size |
Re. 1 |
| Price Band |
Limit 10%. |
| Quality specification |
- Unpolished turmeric fingers
- Inferior quality Turmeric* should not be more than 1.5%
- Fingers that are broken/those less than 15mm should not be more than 3.0%
- Damage due to moisture (i.e. Lokhandi) or over boiling (i.e. Kadh) should not be more than 0.3%
- Unboiled or less boiled turmeric should not be more than 0.4%
- Busha, chaff dirt, earth clods and stones should not be more than 0.75%
- Bulbs should not be more than 2%
- Moisture should not be more than 10%
- Turmeric should be free from fungus
- Turmeric should not be artificially coloured with dyes or chemicals * Chora, Chora-gatha, Khota-gatha, Gadhvi-gatha and Kapiv-gatha
|
| Also Deliverable |
Unpolished turmeric fingers qualities - Erode, Rajapore, Duggirala, Warangal |
| Quantity variation |
+/- 2% |
| No. of active contracts |
Maximum 12 monthly or minimum 2 monthly contracts running concurrently |
| Delivery Center |
Warehouses notified by Exchange in Nizamabad, Sangli and Erode |
| Delivery |
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 |
| Opening of contracts |
December 2004 and April 2005 contracts to be launched on July 27, 2004
Subsequently trading in any contract month will open on the 21st of the month. If the opening day happens to be a non-trading day, contracts would open on the next trading day |
| Due date |
20th day of the delivery month. If 20th happens to be a holiday, then previous trading day. If 20th happens to be a Saturday or Sunday then the due date shall be the immediately last preceding trading day of the Exchange |
| Closing of contract |
All open positions will be settled as per general rules and product specific regulations |
| Position limits |
Member-wise: Max (Rs. 20 crore, 15% of open interest), whichever is higher
Client-wise: Max (Rs. 10 crore, 10% of open interest), whichever is higher |
| Premium / Discount |
Shall be notified by the Exchange on or before the expiry date |