NCDEX to launch coal futures trading today
Leading agri-commodity bourse National Commodity and Derivatives Exchange (NCDEX) will launch futures trading in thermal coal tomorrow. “The first set of contracts in thermal coal would be launched on September 10,” NCDEX said in a statement.
The exchange said that it would initially launch October, November and December contracts and subsequent contracts would be launched next year.
Trading and delivery units are fixed at 100 tonnes each, it said, adding that the main delivery centre would be in Nagpur, Maharastra.
Daily price fluctuation limit is set at 6 per cent. Highlighting delivery specification, NCDEX said, “The seller would be required to give their intention at least five trading days prior to the expiry of the contracts.” If the buyer with outstanding positions at maturity or a seller, who has agreed to deliver, fails to meet the obligation, he would have to pay penalty structured by the regulator, it added.
NCDEX registered a business of Rs 30,057 crore during the first fortnight of August.