Aluminium April 2022 Contracts Onwards PDF
Aluminium April 2022 Contracts Onwards PDF
Aluminium April 2022 Contracts Onwards PDF
Symbol ALUMINIUM
Description ALUMINIUMMMMYY
Contract Listing Contracts are available as per the Contract Launch Calendar.
Contract Start Day 1st day of contract launch month. If 1st day is a holiday then the
following working day.
Last Trading Day Last calendar day of the contract expiry month. If last calendar day
is a holiday then preceding working day.
Trading
Trading Period Mondays through Fridays
Trading Session Monday to Friday: 09.00 a.m. to 11.30 p.m. / 11.55 p.m.*
(* based on US daylight saving time period)
Trading Unit 5 MT
Quotation/ Base 1 Kg
Value
Price Quote Ex-Warehouse Raipur district (excludes only GST).
Maximum Order 150 MT
Size
Tick Size 5 paisa per kg
(Minimum Price
Movement)
The Exchange has implemented a narrower slab of 4%. Whenever
the narrower slab is breached, the relaxation will be allowed up to
6% without any cooling off period in the trade. In case the daily
price limit of 6% is also breached, then after a cooling off period of
15 minutes, the daily price limit will be relaxed up to 9%.
Daily Price Limits
In case price movement in international markets is more than the
maximum daily price limit (currently 9%), the same may be further
relaxed in steps of 3% and will be informed to the Regulator
immediately.
Initial Margin* Minimum 8% or based on SPAN whichever is higher
Extreme Loss Minimum 1%
Margin
Additional and/ or In case of additional volatility, an additional margin (on both buy &
Special Margin sell side) and/ or special margin (on either buy or sell side) at such
percentage, as deemed fit; will be imposed in respect of all
outstanding positions.
For individual client: 25,000 MT or 5% of the market wide open
Maximum position, whichever is higher for all Aluminium contracts combined
Allowable Open together.
Position
For a member collectively for all clients: 2,50,000 MT or 20% of
the market wide open position, whichever is higher for all
Aluminium contracts combined together.
Delivery
Delivery Unit 5 MT with tolerance limit of + / - 10%
Delivery Period Delivery period margins shall be higher of:
Margin** a. 3% + 5 day 99% VaR of spot price volatility
Or
b. 25%
Ex-Warehouse at Raipur district in Chhattisgarh
The delivery order rate (the rate at which delivery will be allocated)
shall be the closing price (weighted average price of last half an
hour) on the respective tender day except on the expiry date.
On Expiry:
On expiry date, the delivery order rate or final settlement price
shall be the Due Date Rate (DDR) and not the closing prices.
Due Date Rate The Final Settlement Price (FSP) shall be arrived at by taking the
(Final Settlement simple average of the last polled spot prices of the last three trading
Price) 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:
Contract Launch Calendar for Aluminium Futures contracts expiring during the
year 2022 and onwards
Delivery Marking On the respective tender days after the end of the day
Delivery Pay-in The seller will have to do the delivery pay-in through ComRIS
Account by earmarking his existing valid commodity balance
in the ComRIS Account towards the pay-in obligation.
On Tender Days:
On Expiry:
Taxes, Duties, At the time of delivery, the buyer has to pay GST in addition
Cess and Levies to Delivery Order Rate / DDR / Final Settlement Price.
Odd lot Treatment Not Applicable
Warehouse, -Borne by the seller up to commodity pay-out date
Insurance and
transportation -Borne by the buyer after commodity pay-out date
charges
Buyer’s option Buyer will not have any option of choosing the place and
for lifting of grade of delivery and will have to accept the delivery as per
Delivery allocation made by the MCXCCL
Delivery of Goods The goods delivered through the ComRIS Account should be
valid as per contract specifications up to minimum 15 days
after the expiry of the contract.
Legal Obligation Every member delivering and receiving goods through the
ComRIS Account by way of delivery shall provide appropriate
tax forms, wherever required as per law and as custom, and
neither of the parties shall unreasonably refuse to do so
Extension of The MCXCCL may extend the Delivery Period due to either
Delivery Period force majeure or any other reason, as it thinks fit in the
interest of the market.
All the Sellers giving delivery of goods and all the buyers
taking delivery of goods shall have the necessary GST
Registration as required under the Goods & Service Tax
(GST) Act and obtain other necessary licenses, if any.