|
Type of Contract
|
Futures Contract Specifications
|
|
Name of Commodity
|
LEAD
|
|
Ticker symbol
|
LEAD
|
|
Trading System
|
NCDEX Trading System
|
|
Unit of trading
|
5 tons
|
|
Delivery unit
|
10 tons (with tolerance limit of +/-1%)
|
|
Quotation/base value
|
Rs per Kg
|
|
Tick size
|
Rs 0.05 per kg.(i.e. 5 paise)
|
|
Quality specification
|
Lead of 99.970% minimum purity. Lead must conform with
graded lead chemical composition of BS EN 12659:1999 Standard entitled
"Lead and Lead Alloys - Lead".
Form: Ingots (pigs will be referred to as ingots)
|
|
Basis
|
Ex-Warehouse at Bhiwandi, exclusive of Import Duty,
CVD/Excise, Cess, Sales Tax / VAT and any other levy or tax. In addition, the
Buyers will be liable to pay delivery charges to Seller as notified by the
Exchange before launch of respective contract
|
|
Delivery center
|
Bhiwandi, Maharastra. Warehouse to be accredited within
50kms from the municipal limits
|
|
Trading hours
|
Mondays through Fridays –
10:00 AM to 11:30 /11:55 PM*
Saturdays - 10:00AM to 02:00 PM
On Expiry Date - at 5:35 PM / 6:35 PM*
*during US day light saving period
|
|
Due date/Expiry date
|
Last trading day of the month
If last day 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
|
The buyer and seller shall give intentions of
taking/giving delivery through the delivery request window at least three
trading days prior to the expiry of the contracts and such intentions can
be given during 3 days which would be notified separately. This will be
matched by exchange for physical delivery as per the process put in place by
the Exchange.
|
|
Delivery Logic
|
Intention Matching
|
|
Closing of contract
|
All open positions for which delivery intentions have
not been received or for which delivery intentions have been rendered but
remain unmatched for want of counterparty to settle delivery, will be cash
settled at Final settlement Price on the expiry of the contract.
|
|
Opening of contracts
|
Trading in any contract month will open on the 1st day
of the month.
If the 1st 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
|
Base daily price fluctuation limit is (+/-) 4%. If the
trade hits the prescribed daily price limit, the price limits will be
relaxed up to (+/-) 6% without any break/ cooling off period in the trade.
In case the daily price limit of (+/-) 6% is breached, then after a cooling
off period of 15 minutes, the daily price limit will be further relaxed up
to (+/-) 9%. Trade will be allowed during the cooling off period within the
price band of (+/-) 6%.
In case of price movement in International markets which is more than the
maximum daily price limit (currently 9%), the same may be further relaxed
in steps of 3% with the approval of FMC.
|
|
Position limits
|
Client level: 1500 tonnes
Member level: 6000 tonnes or not more than 20% of the open
market position, whichever is higher.
The above limits will not apply to bona fide hedgers. For bona fide hedgers,
the Exchange will, on a case to case basis, decide the hedge limits. Please
refer to Circular No. NCDEX/TRADING-100/2005/219 dated October 20,2005.
|
|
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
|
|
Final Settlement Price
|
The Final Settlement Price (FSP) of Lead contract would
be the international spot price of Lead as polled by the Exchange and
converted at the USD/Rupee exchange rate prevailing on expiry date.
|
