Contract Specifications of Wheat (Applicable for contracts ... - NCDEX

to expiry date of a contractMember-wise: 25,000 MT or 15% of market wide nearmonth open position, whichever is higherClient-wise: 5,000 MTSpecial MarginsSpecial margin of 3% of the value of the contract will belevied whenever the rise or fall in price exceeds 20% of the90-day prior settlement price. The margin will be payable bythe buyer or the seller depending on whether price rises orfalls respectively. The margin shall remain in force so long asthe price stays beyond the 20% limit and will be withdrawn assoon as the price is within the 20% band.Quality variance is acceptable in specifications for Infestationdamaged kernel, Shrunken/Shriveled/Broken grains, TotalDefects, Moisture and Test Weight only with discounts asfollows:-Premium / DiscountDelivery LogicFinal Settlement PriceInfestation damaged Kernel :• Infestation damaged kernel above 1% to 3% - acceptedwith rebate on 1:0.25 basis• Infestation damaged more than 3% - RejectedShrunken/Shriveled/Broken Grains :• Shrunken/Shriveled/Broken Grains above 5% to 6% -accepted with rebate on 1:1 basis.• Shrunken/Shriveled/Broken Grains more than 6%- RejectedTotal defects• Total defects above 7% to 9% - accepted with rebate on 1:1basis• Total defects above 9% - rejectedMoisture• Moisture above 11% to 13% - accepted with rebate on 1:1basis• Moisture above 13% - rejectedTest weight• Test weight below 76 kg/hl - acceptable up to 74 kg/hlacceptedwith rebate of 150 grams per kg/hl or pro-ratavariance in hectoliter weight deducted per quintal weightdelivered• Test weight below 74kg/hl - rejectedCompulsory DeliveryThe Final Settlement Price (FSP) shall be arrived at by takingthe simple average of the last polled spot prices of the lastthree trading days viz., E0 (expiry day), E-1 and E-2. In theevent of the spot prices for any one of the E-1 and E-2 is notavailable; the spot price of E-3 would be used for arriving atthe average. In case the spot prices are not available for bothE-1 and E-2, then the average of E0 and E-3 (two days)would be taken. If all the three days’ prices viz., E-1, E-2 andE-3 are not available, then only one day’s price viz., E0 will betaken as the FSP.

Contract Launch CalendarContract Launch monthContract expiry monthSeptember 2011 March 2012October 2011 April 2012November 2011 May 2012December 2011 June 2012January 2012 July 2012February 2012 August 2012March 2012 September 2012April 2012 October 2012May 2012 November 2012June 2012 December 2012Members and market participants who enter into buy and sell transactions may please notethat they need to be aware of all the factors that go into the mechanism of trading andclearing, as well as all provisions of the Exchange's Bye Laws, Rules, Regulations, ProductNotes, circulars, directives, notifications of the Exchange as well as of the Regulators,Governments and other authorities.Members and market participants trading on the Exchange in the commodity contractsshall be deemed to be aware of applicable laws and amendments thereof from time totime, including provisions and rates relating to the sales tax, value added tax APMC Tax,Mandi Tax, octroi, excise duty, stamp duty, etc., applicable on the underlying commodity ofany contract offered for trading.The Exchange shall not be responsible or liable on account of non compliance by any of themembers and market participants of any such applicable laws or any amendments thereofincluding not being aware of rates of taxes, levies, etc., on the underlying commodity ofany contract offered for trading.