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Basis centre Ex – Mumbai excluding all taxes, levies and other expenses
New contracts will be available for trading from 1st day of the
month as per the Contract launch calendar. If the 1st day happens
Opening of Contract
to be a non-trading day, new contracts would open on next trading
day.
Daily price fluctuation limit is (+/-) 4%. If the trade hits the
prescribed base daily price limit, the limit will be relaxed up to (+/-)
6% without any break/ cooling off period in the trade. In case the
daily price limit of (+/-) 6% is also breached, then after a cooling off
Daily Price Limit period of 15 minutes, the daily price limit will be further relaxed up
to (+/-) 9%. Trade will be allowed during the cooling off period
within the price band of (+/-) 6%.
In case of price movement in International markets which is more
than the maximum daily price limit (currently 9%), the same may
be further relaxed in steps of 3% beyond the maximum permitted
price limit and inform the Commission immediately.
FSP is calculated on the last trading day of the contract on the basis
Final Settlement Price of the domestic/International benchmarked spot price of this
FSP variety of crude oil from various market sources and converted at
the RBI Rupee – US dollar rate prevailing at expiry