Multi-Commodity Exchange launches new futures series

Tuesday, 29 April 2008, 12:18 Hrs
Printer Print Email Email
Ahmedabad: The National Multi-Commodity Exchange (NMCE) has launched new series for futures contract in non-ferrous metals, menthol crystal and raw jute. All the contracts can be traded on NMCE e-platforms from May 2.

The new contracts in the six non-ferrous metals - aluminium ingot, nickel prime, copper, zinc, lead and tin - will mature July 31, 2008. The new contract in menthol crystal will expire Aug 30 and that in raw jute Sep 30, 2008.

At present, the non-ferrous metals are simultaneously traded in different monthly contracts on NMCE terminals, up to three months in advance, each expiring on the last trading day of respective calendar month. Menthol crystal contracts run up to four months and that in raw jute up to five months.

The delivery centres for different commodities, as per specified quality, are at specified warehouses of the Central Warehousing Corp (CWC) in the country. For the six base metals, it is the CWC warehouse in Mumbai, for menthol crystal it is CWC warehouse at Chandausi (Uttar Pradesh) and for raw jute, it is Kolkata CWC warehouse.

The NMCE provides electronic platform for futures trading also in rubber, pepper, sacking, guar seed, castor seed, rape/mustard seed, copra, isabgol, cardamom and turmeric.
Source: IANS
Ola raises Rs 400 cr for electric
Leading ride-hailing cab aggregator Ola on Friday said it raised Rs 400 crore from its early in..
Fossil Group sells smartwatch
Global watch and accessories maker Fossil Group has announced to sell its smartphone technolog..
GST rate cut to spur Bengaluru
The realty market in India's tech hub is set to grow as lower Goods and Services Tax (GST) rate..
SpiceJet plans aggressive
Budget passenger carrier SpiceJet plans to aggressively expand its international networks to fl..