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Mega Silver

Futures Contract Specifications. Updated as on April 22, 2005.
(Please refer to notes, if any, listed below this contract specifications)

Type of contract	Futures Contract Specifications
Name of commodity	Mega Silver
Ticker symbol	CHANDIDEL
Trading system	NCDEX Trading System
Hours of trading	As per directions of the Forward Markets Commission from time to time, currently (with effect from April 25, 2005) - 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 11:30 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. The Exchange may vary the above timing with due notice.
Unit of trading	30 Kg
Delivery unit	30 kg
Quotation/Base Value	Rs per Kg of Silver with 999 fineness (called “Pure Silver” in trade circles)
Tick size	Re 1 or as may be notified by the Exchange from time to time
Price band	Limit 10%.
Quality specification	Not less than 999 fineness bearing a serial number and identifying stamp of a refiner approved by NCDEX. List of approved refiners will be available with the Exchange and also on its web site: www.ncdex.com
Quantity Variation	+/- 6 %
No. of active contracts	3 concurrent month contracts or as may be notified by the Exchange from time to time
Delivery center	New Delhi as also other centers as may be notified by the Exchange from time to time
Opening date	The first 3 contracts will be launched on March 30, 2004. Subsequently, trading in any contract month will open on the 21st day of the month or as may be decided by the Exchange from time to time.
Due date	20th day of the delivery month, if 20th happens to be a holiday then previous working day
Delivery Specification	Upon expiry of the contracts the seller can exercise the option to give delivery on the expiry date of the contract. The buyers with open position will have no option but will have the obligation to take delivery as per the Regulations of the Exchange.
Position limits	Member-wise: max (Rs 50 Crores, 15% of open interest) Client-wise: max (Rs 25 Crores, 10% of open interest Position limits are to be aggregated across all Silver contracts.
Price adjustment	None

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