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Type of contract
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Futures Contract Specifications
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Name of commodity
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Yellow Soybean Meal (Export)
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Ticker symbol
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SBMEXPKDL
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Trading system
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NCDEX Trading System
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Basis
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Ex-warehouse Kandla, Exclusive of Sales Tax
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Unit of trading
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10 MT
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Delivery unit
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10 MT
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Quotation/base value
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Rs per Metric Ton
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Tick size
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Rs 10
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Quality specification
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Moisture :11% basis
Protein: 48% basis
Oil : 1.5%(Max)
Fiber: 6%(Max)
Sand/Silica: 2% basis
Urease (by EEC method):0.30 units basis
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Quantity variation
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+/- 2%
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Delivery center
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Kandla (within a radius of 50 km from the municipal limits)
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Deliverable grades
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Yellow soybean meal of grade:
1. Expander type
2. Flaker type
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Trading hours
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As per directions of the Forward Markets Commission from time to time,
currently-
- Mondays through
Fridays: 10:00 a. m. to 5:00 p.m.
- Saturdays: 10.00
a.m. to 2.00 p.m.
The Exchange may vary the above timing with due notice
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Due date/Expiry date
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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 a Sunday then the due date shall
be the immediately preceding trading day of the Exchange, other than a
Saturday
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Delivery specification
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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.
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Closing of contract
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On the expiry of the contract, all outstanding positions not resulting
in giving/taking of physical delivery of the commodity shall be closed
out at the Final Settlement Price announced by the Exchange
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Opening of contracts
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Trading in any contract month will open on the 10th day of the month.
If the 10th day happens to be a non-trading day, contracts would open on
the next trading day
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No. of active contracts
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As per launch calendar
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Price limit
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Daily price limit of 2% provided that there will be a cooling period
of 15 minutes after the trade hits the prescribed daily price limit.
Thereafter the price band will be raised by another 50 % of the existing
limit - upto 4 % and trade will be resumed. If the price hits the revised
price band again during the day, no trade/ order shall be permitted
beyond the revised limit during the day
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Position limits
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Member level : Maximum of 60,000 MT
or 15 % of Market Open Position in the commodity, whichever is higher
Client level: 20,000 MT
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 circular no. NCDEX/TRADING-100/2005/219 dated
October 20, 2005
Near month limit (The following limits would be applicable from 28 days
prior to expiry date of a contract)
Member Level: Maximum of 15,000 MT or 15 % of total near
month Open Position in the commodity, whichever is higher
Client Level: 5,000 MT
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Premium/Discount
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Quality variations shall be accepted with discounts as under:
Moisture: From 11% to 12%-accepted at 1:1 or part thereof.
Above 12% rejected.
Protein: From 48% to 46%- accepted at 1:1 or part thereof.
Below 46% rejected.
Oil: Above 1.5% rejected
Fiber: Above 6% rejected
Sand/Silica: From 2% to 2.5%- accepted at 1:1 or part thereof,
Above 2.5% rejected.
Urease activity: From 0.3 units to 0.35 units accepted at 0.1% for every
0.01 unit increase in Urease activity,
Above 0.35 units rejected.
Free from pesticide (especially organochlorine compound group e.g. DDT,
dieldrin including aldrin and heptachlor)
Free from poisonous seeds and/or foreign seeds, free from castor seeds
and/or husk, free from lumps, free from weevils, free from urea and/or
other chemical substance.
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Special Margins
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Special margin of 5% of the value of the contract whenever the rise or
fall in price from the first day's closing price of 20% payable by buyer
or seller depending on whether prices rise or fall respectively. The
margins shall stay in force so long as price stays beyond the 20% limit
and will be withdrawn as soon as the price is within the 20% band.
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