9911796707
TMI BlogStaggered delivery, early delivery system, early pay-in facility, penalty on delivery default, fixation of FSP and changes in expiry datesX X X X Extracts X X X X X X X X Extracts X X X X ..... MC) or the Central Government applicable to recognised associations under the Forward Contracts Regulation Act, 1952 (FCRA) would continue to remain in force for a period of one year from the date on which FCRA was repealed (September 29, 2015), or till such time as notified by SEBI, whichever is earlier. 2. Erstwhile FMC, from time to time, had prescribed various norms for National Commodity Derivatives Exchanges related to staggered delivery, early delivery system, early pay-in facility, penalty on delivery default, fixation of Final Settlement Price (FSP) and changes in expiry dates. This circular is beingissued to consolidate and update such norms prescribed for National Commodity Derivatives Exchanges by the erstwhile FMC. 3. Acc ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ng which buyers/sellers can give intention to take/give delivery. If the intentions of the buyers/sellers match, then the respective positions will be closed out by physical deliveries. The process of pay in and pay-out will be completed on T + 2 basis, where 'T' stands for the day on which matching has been done. b. If there is no intention matching for delivery between sellers and buyers, then such delivery intention will get automatically extinguished at the close of E-1 day. The intentions can be withdrawn during the course of E- 14 to E-1 day if they remained unmatched c. In respect of delivery defaults after the matching of delivery intentions, penalty provisions as applicable in the case of delivery defaults in compulso ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... st of the last spot prices of 5 succeeding days after the commodity pay-out date, if the average price so determined is higher than Settlement Price, else this component will be zero.) Futures contracts on non-agri commodities: 3% of Settlement Price + replacement cost (difference between settlement price and higher of the last spot prices on the commodity pay-out date and the following day, if the spot price so arrived is higher than Settlement Price, else this component will be zero.) Exchanges shall have the flexibility to increase/decrease penalty for specific commodities depending on situation, in consultation with SEBI. Norms for apportionment of penalty At least 1.75% of Settlement Price shall be deposited in the ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 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 ..... X X X X Extracts X X X X X X X X Extracts X X X X
|
