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Dhimant Bhatt

Mumbai , Sept. 5

NCDEX has made delivery compulsory in two new contracts of rubber and pepper futures launched on Saturday by modifying the delivery specifications.

The exchange has issued a circular to its members.

NCDEX has launched two new commodities contracts — rubber January 2006 and pepper February 2006, under which the delivery would be made compulsory.

"NCDEX has made modifications in the delivery specifications in the rubber and pepper futures contracts procedure, which will be applicable for all contracts expiring in and after January 2006 for rubber and February 2006 for pepper," said in a circular issued by the exchange.

"The exchange will include more and more commodities under the compulsory delivery system in a phased manner," Mr Narendra Gupta, Chief Business Officer of NCDEX, told Business Line.

A seller having an open interest at the expiry of a contract would be compulsorily required to make a delivery.

In case of a failure to deliver, it would be treated as a default.

The corresponding buyer with an open position, as matched by the process put in place by the Exchange, shall be bound to settle by taking physical delivery, circular said.

The delivery centres for rubber RSS-4 futures are Kottayam and Kochi.

The delivery centre for pepper Malabar Garbled-1 is Kochi.

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NCDEX makes delivery a must for 2 contracts

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