NCDEX Silver

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The 30 Kg silver contract traded on National Commodity & Derivatives Exchange Ltd. ("NCDEX") is a physically delivered contract with price bands of 4, 6 and 9%. Position limits for exchange members on the contracts are for a maximum of 300 metric tonnes or 15% of the market-wide open interest, whichever is higher. For clients, the position limit is 60 metric tonnes.[1]


Silver futures
Exchange National Commodity & Derivatives Exchange
Settlement Physically delivered
Contract Size 30 kilograms
Pricing Unit Need pricing unit!
Tick Value 1 Rupee
Contract Months All months
Last Trading Day 20th day of the delivery month. If 20th happens to be a holiday, a Saturday or a Sunday then the due date shall be the immediately preceding trading day of the Exchange, which is other than a Saturday.

The Settlement of contract would be by a staggered system of 5 Pay-ins and Pay-outs including the 5th Pay-in and Pay-out which would be the Final Settlement of the contract.

Note: This contract is electronic ONLY -- no open outcry
  No Open Outcry Electronic
Trading Hours N/A Mondays through Fridays: 10:00 AM to 11:55 PM

Saturdays: 10:00 AM to 02:00 PM

Ticker Symbol N/A SLVPURDEL
Price Limits N/A Daily price fluctuation limit will be (+/-) 6%. If the trade hits the prescribed price limit there will be cooling off period for 15 minutes. Trade will be allowed during this cooling off period within the price band. Thereafter the price band would be raised by another 50% of the existing limit i.e. (+/-) 3% and trade will be resumed.

If the price hits the revised price band (9%) again during the day, trade would only be allowed within the revised price band. No trade/order shall be permitted during the day beyond the revised limit of (+/-) 9%, except such further variations as may be permitted by the regulators.

Notes

Resources


References

  1. Contract Specs. NCDEX.