Multi-Commodity Exchange launches new futures seriesApril 29th, 2008 - 6:43 pm ICT by admin
Ahmedabad, April 29 (IANS) 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.
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