Minimum total margin of 25 pc in pepper, jeera

Ahmedabad, Apr 15: The National Multi-Commodity Exchange (NMCE) here has announced ''minimum total margin'' of 25 per cent on both long and short positions in all running and yet-to-be launched futures contracts in pepper and cumin seed (jeera) as stipulated by Forward Markets Commission (FMC).

The revised margin, excluding delivery margin, would be applicable on real-time basis with effect from close of trade on April 16, an NMCE release said here today.

Meanwhile, NMCE is launching new futures contract in 38 series and six new spread series from April 16 even as futures contract in 44 series expired today.

The new contracts being launched from Monday include gold, silver, cardamom, pepper, gur, guargum, isabgul, cumin seed (jeera), cotton seed, linseed, sesame, mustard/rapeseed, groundnut, soya bean, coconut cake and their oil, RBD palmolein, rice, rice bran oil, wheat, vanaspati, moong, masoor and sugar.

Contracts of most of these commodities will expire on July 14, whereas that in rubber and sacking on August 14, castor seed 10MT on September 14 and pepper on October 15.

The six new spread series are three each in pepper and rubber, spread over April 16 to May 15, and June 15 to July 14.

The NMCE also provides electronic platform for trading in other commodities, including base metals, which begin and expire on different days of the month.

UNI