NATIONAL COMMODITY & DERIVATIVES EXCHANGE LIMITED

 

Circular to all trading and clearing members of the Exchange

Date: May 11, 2006

Subject:  No fresh position in May 2006 contracts during last 5 days before expiry _____________________________________________________________________________

Members may please note that members and clients are not permitted to acquire fresh open positions during the last five days (i.e. on or after May 14, 2006) before the expiry of the May 19, 2006 contracts and (on or after May 27, 2006) before the expiry of the May 31, 2006 contract. This is applicable to commodities in which delivery intentions are required to be given during the period May 11, 2006 to May 13, 2006 and May 24, 2006 to May 26, 2006 respectively.

Members are informed that a penalty of Rs.1000/- would be levied commodity wise per day for violating the said directive and collected from the members. Multiple instances of violations by a member/client would be viewed seriously by the Exchange and will attract stiffer penalties including disablements, suspension and initiation of suitable action against the member concerned in terms of the Regulations of the Exchange.

 Members are, therefore, advised to be cautious and not to put through trades that may violate the said directive.

 The list of the commodities whose delivery intention period is ending on May 13, 2006 and May 26, 2006 is given below:

National Commodity & Derivatives Exchange Limited

Chief Operating Officer

 For further information / clarifications, please contact

1. Customer service group on phone: 022 6640 6609 - 6615.  

2. Customer service group by e-mail to : [email protected]