NMCE launches 43 new series for futures contract

Ahmedabad, July 16 (UNI) Even as the National Multi-Commodity Exchange (NMCE) today launched 43 new series and six new 'spread series' for futures contract, the exchange settled the prices in various commodities of the July-2007 series that expired Saturday last.

Rubber in the aforesaid series has settled at Rs.7,859 per quintal, which was lower than the previous three series, varying from Rs 8,194 of June and Rs 8,452 of May to Rs 9,254 of the April series. The July series in the commodity was launched on March 16 this year, as it recorded the highest intra-day traded price of Rs 10,425 on March 24 and the lowest of Rs 7,301 on July 4, a release here today said.

The July-2007 series in pepper, another highly traded commodity at NMCE, settled at Rs 14,507 per quintal, which was higher than Rs 13,806 of June, but lower than Rs 14,895 of May and Rs 15,253 of the April series. The July series in pepper was launched on January 16.

It posted the highest intra-day traded price of Rs 16,800 on April 12 and the lowest of Rs 12,151 on March 13.

The July-2007 series in cardamom settled at Rs 479.00 per kg as against Rs 398.85 of June, Rs 394.00 of May and Rs 404.00 of the April series.

The settlement prices are arrived at by averaging out the spot prices of the particular commodity on five days preceding the expiry date. Different series are launched on different specified dates of the month and run for different periods. For instance, pepper is simultaneously traded in six series, rubber in four and cardamom in three series.

Meanwhile, NMCE today launched 43 new series and six new 'spread series' for futures contract, including that in rubber, pepper and cardamom.

The delivery centres for different commodities, as per specified quality, are at specified warehouses of the Central Warehousing Corporation (CWC) in the country. They are backed by robust and reliable CWC delivery settlement system and finances from Punjab National Bank (PNB).

NMCE also provides electronic platform for trading in other commodities, such as base metals, kilo gold, chana, soy oil and guar seed, having different schedules of introduction and expiry days, the release added.

UNI