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Spot Price Polling Mechanism


Particulars Details
Details of the contract Gold 995 purity quoted Rs .per 10 grams. Ex-Ahmedabad (inclusive of all taxes and levies relating to import duty, customs but excluding GST, any other additional tax, cess, octroi or surcharge).
Mechanism of spot price polling Prices are polled twice daily from physical market participants between 11.45 p.m. to 12.30 p.m. and 3.45 p.m. to 4.30 p.m.. Spot prices displayed at around 12.45 p.m. and 4.30 p.m. on all business days in physical market.
How spot prices are arrived at Spot price is determined from polled prices using Trimmed Mean methodology wherein mean is computed after discarding those falling outside pre-determined boundaries on either sides.
Whether these prices include or exclude taxes and other levies / costs Ex-Ahmedabad (inclusive of all taxes and levies relating to import duty, customs but excluding GST, any other additional tax, cess, octroi or surcharge)
Whether spot prices polling has been outsourced to any external agency and if so, the details thereof. Outsourced to Cogenics
Criteria for selection of these polling participants The poll panel comprises of representatives from value chain of physical market.
Any other information that the Exchange may consider Spot prices are quoted by participants either inclusive or exclusive of GST (@3%). Prices are adjusted to arrive at exclusive of GST.
Particulars Details
Details of the contract Silver 999 purity quoted Rs .per 1 kgs. Ex-Ahmedabad (inclusive of all taxes and levies relating to import duty, customs but excluding GST, any other additional tax, cess, octroi or surcharge).
Mechanism of spot price polling Prices are polled twice daily from physical market participants between 11.45 p.m. to 12.30 p.m. and 3.45 p.m. to 4.30 p.m. Spot prices displayed at around 12.45 p.m. and 4.30 p.m. on all business days in physical market.
How spot prices are arrived at Spot price is determined from polled prices using Trimmed Mean methodology wherein mean is computed after discarding those falling outside pre-determined boundaries on either sides.
Whether these prices include or exclude taxes and other levies / costs Ex-Ahmedabad (inclusive of all taxes and levies relating to import duty, customs but excluding GST, any other additional tax, cess, octroi or surcharge)
Whether spot prices polling has been outsourced to any external agency and if so, the details thereof. Outsourced to Cogenics
Criteria for selection of these polling participants The poll panel comprises of representatives from value chain of physical market.
Any other information that the Exchange may consider Spot prices are quoted by participants either inclusive or exclusive of GST (@3%). Prices are adjusted to arrive at exclusive of GST.
Particulars Details
Details of the contract
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%
Mechanism of spot price polling Prices are polled twice daily from physical market participants between 11.45 p.m. to 12.30 p.m. and 3.45 p.m. to 4.30 p.m.. Spot prices displayed at around 12.45 p.m. and 4.30 p.m. on all business days in physical market.
How spot prices are arrived at Spot price is determined from polled prices using Trimmed Mean methodology wherein mean is computed after discarding those falling outside pre-determined boundaries on either sides.
Whether these prices include or exclude taxes and other levies / costs Ex-tank, Kandla inclusive of all duties and exclusive of GST  
Whether spot prices polling has been outsourced to any external agency and if so, the details thereof. Outsourced to Cogenics
Criteria for selection of these polling participants The poll panel comprises of representatives from value chain of physical market.
Particulars Details
Details of the contract Grade 1 electrolytic copper as per B115 specification. Ex-Warehouse at Bhiwandi (excluding all taxes and levies relating to GST & any other additional tax or surcharge on GST, but inclusive of all taxes and levies relating to import duty, customs & other related duties in case of imports) 
Mechanism of spot price polling Prices are polled twice daily from physical market participants between 11.45 p.m. to 12.30 p.m. and 3.45 p.m. to 4.30 p.m.. Spot prices displayed at around 12.45 p.m. and 4.30 p.m. on all business days in physical market.
How spot prices are arrived at Spot price is determined from polled prices using Trimmed Mean methodology wherein mean is computed after discarding those falling outside pre-determined boundaries on either sides.
Whether these prices include or exclude taxes and other levies / costs Ex-Warehouse at Bhiwandi (excluding all taxes and levies relating to GST & any other additional tax or surcharge on GST, but inclusive of all taxes and levies relating to import duty, customs & other related duties in case of imports) 
Whether spot prices polling has been outsourced to any external agency and if so, the details thereof. Outsourced to Cogenics
Criteria for selection of these polling participants The poll panel comprises of representatives from value chain of physical market.
Updated on: 28/04/2021
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