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Plan for `ready delivery contract' in commodities

Special Correspondent

KOCHI: National Multi-Commodity Exchange of India Limited (NMCE) will soon introduce `ready delivery contract' in commodities, Kailash Gupta, managing director, told presspersons here on Thursday.

The `ready delivery contract' is to be launched initially in three commodities, viz, rubber, pepper and cardamom. The ready contracts will be exactly on the lines of equity market of T + 2, that is, two days after the trade. The clients would have to pay an upfront margin on all open positions at the end of the trading day in order to avoid the two days risk, which would be released by the way of pay-in and pay-out after two days against the pay-in and pay-out settlement.

Contract specifications, price quotations, trading unit etc would be the same , he said.

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