The Hindu Business Line : NMCE launching new series in futures contracts

Ahmedabad, Sept 16 The National Multi-Commodity Exchange (NMCE) is launching 43 new series and six new ‘spread series’ for futures contract in different commodities from Monday (September 17).

The new series include highly traded commodities on NMCE terminals such as pepper, cardamom and rubber, besides oilseeds and their derivatives, it has said here. Out of these 43 new contracts, the trading cycle of 37 commodities will expire on December 15, that in rubber and sacking on January 15, 2008, in castor seed (10 MT) on February 15, 2008, and in pepper, coffee Arabica and Robusta on March 15, 2008.

6 new spread series

The six new ‘spread series’ include three each in pepper and rubber for specific periods, that in both the commodities expiring on October15, November 15 and December 15, respectively.

e-platform

NMCE provides electronic platform for trading also in other commodities such as base metals, turmeric, chana, soya oil and guar seed – having different schedules of introduction and expiry days.

The delivery centres for different commodities, as per specified quality, are at specified warehouses of the Central Warehousing Corporation (CWC) in the country.

For instance, the one for pepper and rubber are CWC warehouses at Kochi/Ernakulam (basis centre), Kozhikode and Kottayam, that for cardamom at Kochi/Kottayam and for sacking at Kolkata.

They are backed by delivery-based settlement system and finances from banks.