| S.
No.
|
Basis
|
Multi
Commodity Exchange of India Ltd |
National
Commodity & Derivatives Exchange Ltd.
|
| 1.
|
Symbol |
MAIZE |
MAIZYRNZM |
| 2. |
Description
|
MAIZEMMYY |
|
| 3. |
Trading
period
|
Monday
through Saturdays
|
Monday
through Saturdays
|
| 4. |
Trading
session
|
Monday to Friday:10.00 a.m. to
5.00 p.m.
Saturday: 10.00 a.m. to 2.00 pm
|
Monday
to Friday:
10:00 am to 05:00 pm
Saturday:
10:00 am to 02:00 pm
|
| 5. |
No.
of active contracts
|
6 contracts
|
Maximum
12 monthly or minimum 2 monthly contracts
running concurrently
|
| 6. |
Opening
of contracts
|
February
contract
(16
August of the previous year to 15 February of the contract year)
April
contract
(16
October of the previous year to 15 April of
the contract year)
June
contract
(16
December of the previous year to 15 June of the contract year)
August
contract
(16
February to 15 August of
the contract year)
October
contract
(16
April to 15 October of
the contract year)
December
contract
(16 June to 15 December of the
contract year)
|
Trading
in far month contract will open on the 21st day of the
month in which near month contract is due to expire. If
the 21st day happens to be a non-trading day, contracts
would open on the next trading day |
| 7. |
Due
date
|
20th day of the
delivery month. If 20th happens to be holiday, a
Saturday or a Sunday then the due date shall be the
immediately preceding trading day of the Exchange. |
| 8. |
Closing
of contracts |
On the expiry of the
contract, all outstanding positions not resulting in
giving/taking of physical delivery of commodity shall be
closed out at the Final Settlement Price announced by
the Exchange. |
| 9. |
Trading
unit
|
50 MT |
50 MT (50,000 Kgs) |
| 10. |
Base
value/quotation
|
Rs. per 100 kg |
Rs. Per Quintal |
| 11. |
Maximum
order size
|
250 MT
|
|
| 12. |
Tick
price (minimum price movement)
|
Re. 1 |
50 Paise (0.50 Re) |
| 13. |
Daily
price limit
|
4%
|
Daily price limit will be 6%,
provided that there shall be a cooling off
period of 15 minutes after the trade hits the
prescribed daily price limit. Thereafter, the
price band shall be raised by 50% of the
existing limit 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
|
| 14. |
Initial
margin |
5% |
|
| 15. |
Special
margin
|
In case of additional
volatility, a special margin at such percentage, as
deemed fit, will be imposed immediately on both buy and
sale side in respect of all outstanding position, which
will remain in force for next 2 days, after which the
special margin will be relaxed. |
Special Margins, by way of
addition to the normal margins, would be levied on a
large unidirectional movement of any maize 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.
Special margins would be levied as follows -
- A
20 per cent unidirectional movement would attract a
special margin of 1 per cent,
- Movement
by 25 per cent 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. |
| 16. |
Maximum
allowable open position
|
For individual clients: 50000
MT
For a member collectively
for all clients: 200000 MT or 20 % of the open
market position whichever is higher.
|
Member wise: 4,000 contracts
( 2,00,000 MT) or 20% of market-wide open position
whichever is higher
Client wise: 1,000 contracts ( 50,000
MT) |
| 17. |
Delivery
unit
|
50 MT with tolerance limit
of 2% |
50 MT (50,000 Kgs) gross to
net 100 Kgs packed in sound jute bags |
| 18. |
Delivery
centers
|
CWC warehouse and other
warehouses within 30 kms radius of Nizamabad, Davanagere,
Koppal and Sangli as may be approved by MCX |
Nizamabad, Davengere,
Karimnagar, Nimbaheda, Ratlam and Bahraich with location
premium/discount as may be announced by the Exchange
from time to time |
