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Mumbai, Sept. 9

National Commodity and Derivatives Exchange (NCDEX) plans to launch futures trading in thermal coal from Wednesday. Initially, the October, November and December contracts will be available for trading and subsequent new contracts would be launched next year, the exchange said. Trading and delivery units are fixed at 100 tonnes each while the main delivery centre would be Nagpur and Maharastra. Daily price fluctuation limit is set at six per cent. Members are allowed a pos ition limit of 1.2 million tonnes for all contracts, or 15 per cent of market open interest. Client limit is 0.4 million tonnes.“If the buyer and seller fail to meet their obligation, he would have to pay penalty as per the norms,” the exchange said. —

Our Bureau

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