| Asset Code |
COPRA |
| Product Code |
COPRAF |
| Series Code |
CPSMMMYYYY |
| Trading System |
NMCE’s Derivatives Trading and Settlement System |
| Trading Hours |
Monday to Friday:10:00 am to 5:00 pm
Saturday:10:00 am to 2:00 pm
|
| Unit of Trading |
1 MT |
| Delivery Unit |
1 MT |
| Quotation/Base Value |
100 Kgs |
| Tick Size |
10 paise |
| Price Band |
Daily price fluctuation limit will be +/-2%. Limit on daily price fluctuation will
be reckoned with reference to the pervious close price. If trade hits this price
limit, trade would stop for 15 minutes, where after price would be extended by another
+/-2%. No trade would be permitted during the day beyond then revised price limit
of +/-4%.
|
Quality Specification
(Agmark Grade-1) |
NMCE Grade-I : Milling Copra
1.Copra shall be Fair Average Quality (FAQ);
2.Copra shall be clean, fully matures cups, smooth and hard, free from infestation
mould growth(fungus), powder extraneous and defective matter;
3.Moisture content on machine verification shall not exceed 6 %
4.Oil Content shall not be below 64% minimum by mechanical extraction but on dry
basis 70%.
|
| No. of delivery Contracts in a year |
Maximum 12 monthly or minimum 2 monthly contracts running concurrently. |
| Delivery Centers |
Calicut |
| Opening of Contracts |
Trading in any contract month will open on the 16th day of the month as per the
approved calendar |
| Due Date |
15th day of the delivery months if 15 happens to be holiday then previous working
day |
| Delivery Logic |
Compulsory Delivery |
| Closing of Contract |
Squaring up of positions will be permitted between 12th and 15th of delivery month.
No fresh positions building will be allowed. From 12th to the 15th of delivery month,
seller can tender Warehouse Receipt for settlement and Warehouse Receipt will be
accepted for settlement at closing price of the previous day.
|
| Limit on open position |
Aggregate Limit
Client – Maximum of 5,000 MT for all contracts
Member – 15,000 MT or 15% of total market open position in the commodity whichever
is higher
Near Month Limit:
Client – 1,000 MT
Member – 3,000 MT or 15% of the total near month position in the commodity, whichever
is higher
|