Mumbai, July 14 NCDEX Spot Exchange (NSpot) will launch rapeseed mustard seed (RM) compulsory delivery contract on its electronic platform on Wednesday. The delivery centre for the contract would be Sri Ganganagar (Rajasthan) with minimum trading lot of 10 tonnes. All trades on the exchange are guaranteed by the exchange for delivery and payments. The tick size will be Rs. 0.05 a quintal.
The contracts would be traded between 10 a.m and 9 p.m. between Monday and Friday. On Saturday it will be available for trading between 10 am to 2 pm.
Sellers have to deposit the assayed commodity in NSPOT pre-notified accredited warehouses before placing the sell order on the terminal, while the buyers would deposit prescribed margin before putting in their quotes.
The online buy and sell orders would be matched on real time basis by the process of time and price priority. All trades outstanding at the end of the day would result into delivery obligations on the settlement day.