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Ref.No.:NMCE/2009-10/0038 September 18, 2009
Fixation of daily price limit on the launch day of contract
To,
The Members,
As per the directives issued by Forward Market Commission vide its letter dated 3rd August, 2009 under reference No. 6/5/2008-MKT-II, it has been decided that the Exchange shall fix the price band on first day of the launch too for new contracts.
For the purpose of fixing price band the previous month’s settlement price or the prevailing spot price, as the case shall be made use of as under:-
a) In case of the commodities where previous month contract is running the price band shall be fixed making use of the settlement price of the previous month contract.
b) In the case of new contracts where the previous month contract is not available, the Exchanges shall use of prevailing spot price of the commodity.
This is with the immediate effect.
For and on behalf of
National Multi-Commodity Exchange of India Limited
(Dinesh Shukla)
VP (M.D) |
