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Asset Code
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LEAD
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Product Code
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LEADF
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Series Code
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LEDMMMYYYY
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Trading System
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NMCE’s Derivatives Trading and Settlement System
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Trading Hours
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Monday to Friday:10:00 am to 10:00 pm
Further extensions in timings upto 11:30pm will be notified through circulars
Saturday:10:00 am to 2:00 pm
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Unit of Trading
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5 MT
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Delivery Unit
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10 MT with tolerance limit of +/- 1% (100Kg)
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Quotation/Base Value
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Rs./kg *
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Tick Size
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5 paise
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Price Band**
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Base daily price limit = 4%
Ist slab of daily price limit = 2%
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.
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Quality Specification
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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)
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No. of delivery Contracts in a year
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12 months contracts in a year
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Delivery Centers
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CWC bonded Warehouses located in Mumbai (Basis Center) (Within 20 Kilometers outside
Mumbai octroi limit.)
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Opening of Contracts
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Trading in any contract month will open on the 1st day of the month.
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Due Date
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15th day of the delivery months if 15 happens to be holiday then previous working
day
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Delivery Logic
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Both option
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Buyer’s and Seller’s Intention
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On the contract expiry day of the contract by 6.00 p.m. Seller will submit copies
of documentary evidence such as Warehouse Receipt and Valid Quality Certificate
along with the intention to give delivery to the effect that he is holding stock
at the time of giving his intention.
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Tender day
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1st working day after expiry of contract by 6.00 p.m.
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Matching of Buyer’s and Seller’s Intention
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On the basis of intention received from the buyers and sellers, the Exchange will
match the total quantity offered by the buyers and sellers and with respect to the
matched quantity, the allocation of delivery between the buyers and sellers will
be done. The unmatched quantity will be closed out as per the due date rate and
actual delivery will be effected only to the extent of matched quantity.
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Dissemination of the information on delivery intention on TWS
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On the contract expiry day by 7.00 p.m.
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Delivery allocation -Date
-Rate
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- On expiry date of the Contract
- At Due date rate (DDR)
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Delivery period margin
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15% margin will be imposed during tender and delivery period on both buyers and
sellers on matched quantity and shall be recovered on 1st working day after expiry
of the contract
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Penal provision
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After getting intentions from the buyer and seller to take or give delivery, if
any of the party fails to honour his obligations, a minimum penalty of 5% of the
DDR will be imposed on him.
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Due Date
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Last day of the contract months if it happens to be holiday then previous working
day.
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Due date Rate
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DDR is calculated on the last day of contract maturity by way of taking Lead prices
of International Exchange in USD, multiplied by the Rupee conversion Rate from USD
as declared by RBI on expiry of the contract.
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Odd lot treatment
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Delivery will be effected only on delivery lot basis. In case of any odd lot the
delivery will not be marked and the same will be closed out at the DDR with penalty
as per penal provisions.
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Applicability of Business Rules
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The general provisions of Business Rules of the Exchange and decisions taken by
Forward Markets Commission, Board of Directors and Executive Committee of the Exchange
in respect of matters specified above will apply mutatis mutandis. The Exchange
may further prescribe additional measures relating to delivery procedures, warehousing,
Quality Certification, Margining, risk management from time to time. In case of
any interpretational dispute or clarifications the decision of the Exchange shall
be final and binding on the members and others.
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Limit on open position
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Client – 1500 MT
Member – 6000 MT or not more than 20% of market wide open position, whichever is
higher
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* exclusive of all taxes and levies relating to import duty, customs, sales tax/
VAT as the case may be, special additional duty, expenses and octroi. At the time
of delivery, the buyer has to pay these taxes and levies in additional to delivery
order rate.
** 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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