The Hindu Business Line : NMCE fixes 25% minimum total margin on pepper, cumin seed

Ahmedabad April 15 National Multi-Commodity Exchange (NMCE) has announced a `minimum total margin' of 25 per cent on both long and short positions in all running and in yet-to-be launched futures contracts in pepper and cumin seed, as stipulated by the Forward Markets Commission (FMC).

The revised margin, excluding delivery margin, would be applicable on real-time basis with effect from close of trade on April 16, it said in a release.

Meanwhile, NMCE is launching new futures contract in 38 series and six new spread series from Monday (April 16) even as that in 44 series expired today.

The new contracts being launched from Monday include gold, silver, cardamom, pepper, gur, guargum, isabgul, cumin seed, cotton seed, linseed, sesame, mustard/rapeseed, groundnut, soya bean, coconut cake and their oil, RBD palmolein, rice, rice bran oil, wheat, vanaspati, moong, masoor and sugar. Contracts of most of these commodities will expire on July 14, whereas that in rubber and sacking on August 14, castor seed 10 MT on September 14 and pepper on October 15.

The six new spread series are three each in pepper and rubber, spread over April 16 to May 15, June 15 and July 14, 2007. NMCE also provides electronic platform for trading in other commodities, including base metals, which begin and expire on different days of the month.

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