In terms of provisions of the Rules, Bye-Laws and Business Rules of the Exchange, the Members of the Exchange are hereby notified as under: Guar Gum June, July & October 2013 contract will be available for futures trading with effect from Tuesday, May 14, 2013.
Members are advised to note that as directed by FMC, the Exchange will take the following measures required to:
§ To call for a statement of physical stock owned by the clients who hold 75% or
more of permitted position limit whenever deemed necessary.
§ Members should ensure that as and when the Exchange requires, the client shall disclose the source of his/her funds used in trading guar futures.
§ Position limit shall continue to be the aggregate for the contracts traded across all the exchanges.
The Contract specification of Guar Gum is revised with regards to, Staggered Delivery Tender Period, Delivery allocation, Delivery order rate and applicability of near month limits etc.. The delivery and settlement procedure of Guar Gum is revised with regards to Staggered Delivery Tender Period, Staggered Delivery Allocation, Delivery Period, Mode of Communication, Delivery Allocation, Delivery Order rate, premium/ discount premium, and Applicability of Business Rules etc. The revised contract specifications and delivery and settlement procedure are specified as Annexure 1 and 2 respectively.
Members are requested to take note of the same and ensure compliance.
M Ramalingam
Vice President
Encl.: As above
Kindly contact Mr. Anil Sharma on 022- 6649 4000 or send an email at customersupport@mcxindia.com for any clarification.
Contract Specifications of Guar Gum Contract Symbol
GUAR GUM
Description
GUARGUMMMYY
Contract Listing
Contracts are available as per the Contract Launch Calendar.
Contract Start Day
10th day of contract launch month. If 10th day is non-trading day, then contracts would open on the next trading day.
Last Trading Day
20th of the contract expiry month. If 20th is a holiday or Saturday, then the immediate preceding working day other than Saturday.
Trading period
Mondays through Saturdays
Trading session
Monday to Friday: 10.00 a.m. to 5.00 p.m.
Saturday: 10.00 a.m. to 2.00 p.m.
Trading unit
1 MT
Quotation/Base Value
Rs. per 100 kg
Price Quote
Ex-warehouse Jodhpur, inclusive of Sales tax/VAT
Maximum order size
300 MT
Tick size (minimum price movement)
Re. 1
Daily price limit
Daily price fluctuation limit is (+ / -) 3 % from the previous day’s closing price. If the trade hits the prescribed daily price limit there will be a cooling off period of 15 minutes. Trade will be allowed during this cooling off period within the price band. Thereafter the price band would be raised by another (+ / -)1% and trade will be resumed. If the price hits the revised price band (4 %) again during the day, trade will only be allowed within the revised price band. No trade/ order shall be permitted during the day beyond the revised limit of (+ / -) 4% from the previous day’s closing price.
Initial margin
Minimum 10% or based on SPAN whichever is higher.
Additional and/ or Special Margin
In case of additional volatility, an additional margin (on both buy & sell side) and/ or special margin (on either buy or sell side) at such percentage, as deemed fit; will be imposed in respect of all outstanding positions.
Applicability of Predefined Special Margin
Special margin should be as given below:
(a) For June and July 2013 expiries
| Rise or fall in DSP compared to first day DSP | Special Margin |
| Over 20% but less than 30% | 10% |
| Over 30% but less than 40% | 20% |
| Over 40% but less than 50% | 30% |
| 50% and above | 70% |
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