| Asset Code |
GOLD |
| Product Code |
GOLDF |
| Series Code |
GOLMMMYYYY |
| 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 |
100 gms of Fineness .999 |
| Delivery Unit |
Gold Bars of 100 grams serially numbered and of fineness .999 |
| Quotation/Base Value |
10 grams of fineness .999 |
| Tick Size |
Re.1 |
| Price Band * |
Base daily price limit = 3%
Ist slab of daily price limit = 3%
II nd slab of daily price limit = 3%
Maximum daily price limit = 9%
When the base daily price limit is breached, the relaxation will be allowed upto the first slab without any break / cooling off period in the trade. In case the daily price limit of the I st slab is also breached, then after a cooling off period of 15 minutes, the daily price limit will be relaxed as per the limit stated in the II nd slab. |
| Quality Specification |
The Gold delivered under the contract must be Gold Bars weighing 100 grams each and assaying not less than .999 fineness bearing a serial number and identifying origin of the refiner/brander. |
| No. of delivery Contracts in a year |
Maximum 12 monthly or minimum 2 monthly contracts running concurrently |
| Delivery Centers |
CWC Cochin |
| Opening of Contracts |
Trading in any contract month will open on the 16th day of the month as per approved calendar |
| Due Date |
15th day of the delivery months if 15th happens to be holiday then previous working day. |
| 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 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. |
| Delivery Logic |
Compulsory Delivery |
| Limit on open position |
Client Level – 2 MT
Member Level – 6 MT. |
* 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
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