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Contract Specification For GOLD Futures

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14 views

Contract Specification For GOLD Futures

Uploaded by

OPTIONS TRADING20
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as PDF, TXT or read online on Scribd
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Contract Specification of Gold Futures

Symbol GOLD

Contract Listing Contracts are available as per the Contract Launch Calendar.

6th day of contract launch month. If 6th day is a holiday, then the following
Contract Start Day working day.
5th day of contract expiry month. If 5th day is a holiday, then preceding working
Last Trading Day day.
Trading

Trading Period Monday through Friday

Monday to Friday: 09.00 a.m. to 11.30/11.55 p.m.*


Trading Session
*Based on US daylight saving time period.
Trading Unit 1 kg

Quotation/Base
Value 10 grams

Ex-Ahmedabad (inclusive of all taxes and levies relating to import duty,


Price Quote customs but excluding GST, any other additional tax, cess, or surcharge as may
be applicable)
Maximum Order
Size (Qty) 10 kg

Tick Size
(Minimum Price Rs. 1 per 10 grams
Movement)
The base price limit will be 3%. Whenever the base daily price limit is
breached, the relaxation will be allowed up to 6% without any cooling off
period in the trade. In case the daily price limit of 6% is also breached, then
after a cooling period of 15 minutes, the daily price limit will be relaxed up to
9%.
Daily Price Limit#
In case price movement in international markets is more than the maximum
daily price limit (currently 9%), the same may be further relaxed in steps of
3% beyond the maximum permitted limit and inform the Regulator
immediately.

Initial Margin* Minimum 6% or based on SPAN whichever is higher

Extreme Loss
Margin** Minimum 1%

BSE - PUBLIC
In case of additional volatility, an additional margin (on both buy & sell side)
Additional and/ or and / or special margin (on either buy or sell side) at such percentage, as
Special Margin deemed fit; will be imposed in respect of all outstanding positions.

For individual client: 5 MT for all Gold contracts combined together or 5% of


the market wide open position whichever is higher, for all Gold contracts
Maximum combined together.
Allowable Open
Position*** For a member collectively for all clients: 50 MT or 20% of the market wide
open position whichever is higher, for all Gold contracts combined together.
Delivery
Delivery unit 1 kg
Delivery period margins shall be higher of:
Delivery Period a. 3% + 5 day 99% VaR of spot price volatility
Margin**** OR
b. b. 25%

Delivery Centre(s) Designated clearinghouse facilities at Ahmedabad


995 purity,
Quality It should be serially numbered Gold bars supplied by LBMA approved
Specifications suppliers/ BSE Empanelled Refiners or other suppliers as may be approved by
BSE to be submitted along with supplier’s quality certificate.

If the seller offers Seller will get proportionate premium and sale proceeds will be calculated in
delivery of 999 the manner or Rate of Delivery *999/995 If the quality is less than 995, it is
purity rejected.
On expiry all the open positions shall be marked for delivery. Delivery pay-in
Settlement of will be on E + 1 basis by 11.00 a.m. except Saturdays, Sundays, and Trading
Contracts Holidays.
For contracts where, Final Settlement Price (FSP) is determined by polling,
unless specifically approved otherwise, the FSP shall be arrived at by taking
the simple average of the last polled spot prices of the last three trading days
Final Settlement viz., EO (expiry day), E-1 and E-2. In the event the spot price for any one or
Price (FSP) ***** both of E-1 and E-2 is not available; the simple average of the last polled spot
price of EO, E1, EO and E3, whichever available, shall be taken as FSP. Thus,
the FSP under various scenarios of non-availability of polled spot prices shall
be asunder:

BSE - PUBLIC
In case of non-availability of polled spot price on expiry day (E0) due to sudden
closure of physical market under any emergency situations noticed at the basis
centre, Exchanges shall decide further course of action for determining FSP and
which shall be in accordance with BSE circular no.
20200501-5 dated 01st May 2020.
Delivery Logic Compulsory
Staggered Period Last 5 trading days
# In accordance with SEBI Circular No. SEBI/HO/CDMRD/DMP/CIR/P/2016/83 September 07, 2016
* In accordance with SEBI circular SEBI/HO/CDMRD/DRMP/CIR/P/2020/15 dated January 27, 2020.
** In accordance with SEBI circular SEBI/HO/CDMRD/DRMP/CIR/P/2020/15 dated January 27, 2020.
*** In accordance with SEBI Circular No. SEBI/HO/CDMRD/DMP/CIR/P/2016/96 September 27, 2016
**** In accordance with SEBI Circular no SEBI/HO/CDMRD//DRMP/CIR/P/2016/77 dated September
01, 2016
*****In accordance with SEBI Circular no SEBI/HO/CDMRD/DRMP/CIR/P/2016/90 dated Sep 21,
2016

Contract Launch Calendar of Gold Futures

Contract Launch Months Contract Expiry Months


January 2023 April 2023
February 2023 May 2023
March 2023 June 2023
April 2023 July 2023
May 2023 August 2023
June 2023 September 2023
July 2023 October 2023

BSE - PUBLIC
August 2023 November 2023
September 2023 December 2023
October 2023 January 2024
November 2023 February 2024
December 2023 March 2024

BSE - PUBLIC
BSE - PUBLIC

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