Informist, Friday, Jun 21, 2024

MUMBAI – National Commodity and Derivatives Exchange will launch options on guar seed futures contracts from Thursday, having received approval from the Securities and Exchange Board of India, the exchange said in a circular late Thursday.

At launch, there will be five options on guar seed futures contracts expiring in months from July to November that will be available for trading. According to the contract specifications, the underlying of the options contracts will be futures on guar seed. On expiry, the outstanding open position will result in devolvement into guar seed futures.

The expiry day of the options on the futures contract will be the last Friday of the month preceding the expiration month of the underlying, NCDEX said.

The unit of trading as also delivery unit under the new contract will be 5 tn each, and the maximum order size will be 500 tn, NCDEX said. The tick size of the contract will 50 paise per quintal.

NCDEX has phased out options on goods contracts in guar seed, guar gum, maize, dhaniya or coriander, jeera, and turmeric. It had announced the phase out of these contracts at the end of January. The exchange had said that it will not introduce new expiries in respect of the options on goods contracts for the six agricultural commodities. End

Reported by Abhijit Doshi

Edited by Ashish Shirke

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