NCDEX to launch cotton wash oil futures contracts from Sep 2
This story was originally published at 22:38 IST on 23 August 2024
Register to read our real-time news.Informist, Friday, Aug 23, 2024
--NCDEX to launch cotton wash oil futures contracts from Sep 2
MUMBAI – The National Commodity and Derivatives Exchange Ltd announced today the launch of cotton wash oil futures contracts. Futures contracts of cotton wash oil will be available for trading on NCDEX from Sep 2, the domestic bourse said in the circular.
Contracts expiring in the months of December, January, February, and March will be launched the same day. The open interest threshold of the cotton wash oil futures contract is 53,500 tn and the contract symbol is COTWASOIL, according to the circular.
"Upon expiry of the contract, the positions would be cash settled and there will be no physical delivery," according to the circular. Contracts will be opened on the first trading day of the month, and in case of a holiday on that day, contracts will open on the next trading day, according to the circular. The expiry date for a contract is the 20th day of the delivery month, it added.
"On the expiry of the contract, all outstanding positions shall be closed out at the final settlement price announced by the exchange," it said. The trading unit is 5 tn, and the maximum order size is 500 tn. Tick size is 10 paise, and the contracts will be quoted in rupees per 10 kg, the bourse said.
"Once the price limit of 4% (+/-) is reached, then after a period of 15 minutes this limit shall be increased further by 2%," the circular said. After the daily price limit is enhanced, trade will be permitted throughout the day within the enhanced total daily price limit of 6%, it added.
Member-wise position limit is set at 135,000 tn or 15% of the market-wide open interest in the commodity, whichever is higher. For clients, it is set at 13,500 tn. End
Reported by J. Navya Sruthi
Edited by Akul Nishant Akhoury
For users of real-time market data terminals, Informist news is available exclusively on the NSE Cogencis WorkStation.
Cogencis news is now Informist news. This follows the acquisition of Cogencis Information Services Ltd by NSE Data & Analytics Ltd, a 100% subsidiary of the National Stock Exchange of India Ltd. As a part of the transaction, the news department of Cogencis has been sold to Informist Media Pvt Ltd.
Informist Media Tel +91 (22) 6985-4000
Send comments to feedback@informistmedia.com
© Informist Media Pvt. Ltd. 2024. All rights reserved.
To read more please subscribe
Share this Story:
