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Contract Specifications - Agri


COMMODITY FUTURES
Instrument Type   FUTAGR 
Product   Crude Degummed Soybean Oil Futures  
Symbol   DEGUMSYOIL  
Description   DEGUMSYOILYYMMM  
Contract Listing   Monthly contracts. Details as per the launch calendar.
Contract Commencement Day   1st  calendar day of contract launch month. If 1st  calendar day is a  holiday then the following working day. (Expiry Day + 1)  
Last Trading Day   Last calendar day of contract expiry month. If last calendar day is a holiday then preceding working day.  
Trading
Trading Period   Mondays through Fridays  
Trading Session   Monday - Friday, 9:00 am to 9:00 pm  
Trading Unit   10 MT  
Quotation / Base Value   ₹ per 10 Kg  
Price Quote   Ex-tank, Kandla inclusive of all duties and exclusive of GST  
Maximum Order Size   700 MT  
Tick Size (Minimum Price Movement)   ₹ 0.10  
Daily Price Limit  The base price limit shall be 4%. Whenever the base daily price limit is breached, then after a cooling off period of 15 minutes, the daily price limit will be relaxed upto 6%.
Initial Margin  The Initial Margin requirement shall be so as to cover potential losses for at least 99% VaR subject to minimum percentage floor value as prescribed by SEBI from time to time  
Extreme Loss Margin  1%  
Additional and / or Special Margin   In case of additional volatility, an additional margin (on both buy & sale position) and/ or special margin (on either buy or sale position) at such percentage, as deemed fit; will be imposed in respect of all outstanding positions.  
Maximum Allowable Open Position 

For a member collectively for all clients: 5,09,600 MT or 15% of the market wide open position whichever is higher, for all contracts of the commodity combined together.
For individual client: 50,960 MT for all contracts of the commodity combined together.
For Near Month Contracts:

  • For a member collectively for all clients: 1,27,400 MT or one-fourth of the member’s overall position limit in that commodity, whichever is higher.
  • For individual client: 12,740 MT
  • Exchange-wide Position Limits - 25,49,790 MT
Quality Specifications     
FFA (As oleic with a molecular weight of 282)   Max 1%  
Moisture and Volatile Matter   Max 0.20%  
Impurities (insoluble in petroleum ether)   Max 0.10%  
Sediment (Gardner Break Test)   Max 0.10%  
Lecithin (expressed as Phosphorous)   Max 0.02%  
Colour (Lovibond cell 1 inch)   Not darker than 50 yellow plus 5 red  
Flash point   Min 250oF (121oC)  
Unsaponifiable Matter (test as per N.S.P.A.)   Max 1.50%  
   
Due Date Rate (Final Settlement Price)  For contracts where Final Settlement Price (FSP) is determined by polling, unless specifically approved otherwise, the FSP shall be arrived at by taking the simple average of the last polled spot prices of the last three trading days viz.,E0 (expiry day), E-1 and E-2. In the event the spot price for any one or both of E-1 and E-2 is not available; the simple average of the last polled spot price of E0, E-1, E-2 and E-3, whichever available, shall be taken as FSP. Thus, the FSP under various scenarios of non-availability of polled spot prices shall be as under:  
Scenario   Polled spot price availability on   FSP shall be simple average of last polled  
spot prices on: 
E-0   E-1 E-2 E-3 
1   Yes   Yes   Yes   Yes/No   E0, E-1, E-2  
2   Yes   Yes   No   Yes   E0, E-1, E-3  
3   Yes   No   Yes   Yes   E0, E-2, E-3  
4   Yes   No   No   Yes   E0, E-3  
5   Yes   Yes   No   No   E0, E-1  
6   Yes   No   Yes   No   E0, E-2  
7   Yes   No   No   No   E0  
 In case of non-availability of polled spot price on expiry day (E0) due to sudden closure of physical market under any emergency situations noticed at the basis Centre, Exchange shall decide further course of action for determining FSP in consultation with SEBI.  
Settlement Mechanism   The contract would be Cash Settled  
Settlement of Contract   On expiry all the open positions shall be settled in cash as per the Final Settlement price (FSP).  
Updated on: 01/11/2021
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