The Hindu Business Line : NCDEX modifies rubber contracts delivery

THE National Commodity and Derivatives exchange Ltd (NCDEX) has made some changes in the delivery structure for all contracts in rubber expiring on and after November 19 with immediate effect.

In a circular issued by the exchange on Friday, the exchange has specified that if any seller with open position desires to give physical delivery at a particular delivery centre, then the corresponding buyer with open position as matched by the process should be bound to settle by taking physical delivery.

Further, if sellers with open position on the expiry date of the contract do not exercise their right, they would be required to pay a penalty of 3 per cent of the value of open position arrived at final settlement price. A part of this penalty would be given to the buyer with open position on the expiry date of the contract, who was not given delivery and a part would be kept with the exchange.

Lastly, trading with normal margins will be on till 5 days prior to the contract expiry date. During the last five days prior to the expiry date of the contract (inclusive of day of expiry), additional margins would be levied.

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