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Informist, Thursday, May 21, 2026

 

NEW DELHI – National Commodity and Derivatives Exchange Ltd. has invited applications from trading members for the role of designated market makers for the upcoming rainfall-based weather derivatives RAINMUMBAI futures contract. The last day to submit the bid is 1700 IST Thursday. 

 

The RAINMUMBAI futures contract, launched on Wednesday, will go live on May. 29. The contract would run for four monsoon months: June, July, August, and September. 

 

NCEX officials said Wednesday that the exchange will appoint market makers to ensure liquidity and market traction for the contracts from the first day. Market makers will provide continuous two-way quotes within a prescribed spread for efficient price discovery and smooth entry and exit for participants. 

 

NCDEX has announced an incentive of INR 3.0 million per month for market makers who will be present for 80% of daily trading time. Those present only for 60% of daily trading time will be offered a discounted rate. "Presence below 60% will not be eligible for payout," NCDEX said. Market makers are required to provide quotes at all five levels in the order book. 

 

Applicants are required to have a net worth of 10 million and no record of serious disciplinary action against the member in the last year. End

 

Reported by Afra Abubacker

Edited by Saji George Titus

 

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