NMCE launches 42 new series, 6 'spread series'

Ahmedabad, Aug 14 (UNI) The National Multi-Commodity Exchange (NMCE) is launching 42 new series and six new 'spread series' for futures contract in different commodities from Thursday.

The new series include highly traded commodities on NMCE terminals like pepper, cardamom and rubber, besides cumin seed, isabgul, guargum, gur, sugar, cotton seed, linseed, sesame, mustard/rapeseed, groundnut, soya bean, coconut, their oils and cakes; crude palm oil, RBD palmolein, rice bran oil, moong, masoor, gold and silver, NMCE said in a release here.

Out of these 42 new contracts, the trading cycle of 37 commodities will expire on November 15, 2007, that in rubber and sacking on December 15, Castor seed (10MT) on January 15, 2008 and that in pepper on February 15, 2008. The new futures contract in Kilogold will expire on February 5, 2008.

The six new 'spread series' include three each in pepper and rubber, for specific periods of August 16-September 14, August 16-October 15, 2007 and August 16-November 15, 2007.

NMCE provides electronic platform for trading also in other actively traded commodities such as base metals, turmeric, chana, soyaoil and guar seed having different schedules of introduction and expiry days.

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 CWC delivery-based settlement system and finances from banks.

UNI