MCX to release futures on metallic rebars by admin- Wednesday, May 10th, 2023 06:26:37 AM
The buying and selling unit could be of five tonnes with a base fee of 1 tonne
MCX, the u . S . A .�s biggest commodity alternate, has acquired SEBI acclaim for launching Steel Rebar futures.
The date of release of the contracts could be announced separately, said the trade. The trading unit can be of five tonnes with a base fee of 1 tonne.
The most order length could be 200 tonnes and the tick size will be ₹10 consistent with tonne, said the exchange. The fee quote (aside from GST) could be ex-warehouse at Raipur district, Chhattisgarh.
The day by day rate limit is of 4 in line with cent and once that is reached it’ll be comfortable to six according to cent with none cooling-off duration inside the alternate. Once the 6 in line with cent limit is breached, then after a cooling-off length of 15 mins, the day by day charge restrict may be comfy as much as 9 according to cent.
In case, charge movement in worldwide markets is more than the most day by day price limit (of nine in line with cent), the equal can be further comfortable in steps of 3 according to cent. The initial margin will be 8 per cent.
Client open function
The most person consumer open function has been constant at 1.20 lakh tonnes or five per cent of the market huge open role, whichever is higher for all Steel Rebar contracts blended.
For a member collectively for all clients the open position could be 12 lakh tonnes or 20 consistent with cent of the market huge open position, whichever is higher for all Steel Rebar contracts prepare.
While the number one delivery centre might be at Raipur, the change has furnished extra transport centres at Thane district in Maharashtra, Palwal district in Haryana, Chennai district in Tamil Nadu and Durgapur district in West Bengal.
On expiry of the contract, all of the open positions might be marked for compulsory staggered shipping.