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FUTURES AND OPTIONS SEGMENT

Circular No. 033

Sub: Introduction of futures contracts on Gold Benchmark Exchange Traded


Scheme (GOLDBEES)
Date: April 26, 2010
In accordance with approval received from SEBI, the Exchange is pleased to inform
Download No: 14654 about the introduction of futures contracts on Benchmark Mutual Fund – Gold
Benchmark Exchange Traded Scheme (GOLDBEES). Trading in the GOLDBEES
futures contracts shall commence w.e.f. April 30, 2010.

The Exchange notifies the following for GOLDBEES futures contract:


Dipesh Sahoo
Altaf Shaikh
Contract Information
Sachin Dhar (a) GOLDBEES Futures contract
(b) Underlying
022-26598151 (c) Security descriptor
022-26598152 (d) Trading cycle
(e) Expiry day
(f) Last Trading Day
(g) Spread Contracts
022-26598449
Trading Parameters
(a) Order Type /Order book/Order attributes
fotrade@nse.co.in (b) Permitted lot size
(c) Price steps for contracts
(d) Quantity Freeze
(e) Base Price & operating ranges applicable to the contracts
(f) Trade Modification requests
No of Pages: 4 (g) Trade cancellation requests

Transaction Charges

In order to encourage active participation in the GOLDBEES futures, it has been


decided that no transaction charges will be levied on the trades done in the
GOLDBEES futures from the date of commencement till September 30, 2010.
However, every Trading Member participating in trading in the GOLDBEES futures
and options contracts at any time during the above period shall be required to make a
lump sum contribution of Rs. 500/- as contribution to Investor Protection Fund.
The various other provisions regarding market holidays, trading hours, extension of market
hours, market closed for trading, trade modification requests, trade cancellation request, password
& expiry period for password, number of users appointed by trading members, locking of user
ids, code of advertisement, etc. applicable for other futures contracts shall be applicable mutatis
mutandis GOLDBEES futures contracts.

Members are advised to take the latest contract.gz, spd_contract.gz, security.gz and
fo_participant.gz files from NSE EXTRANET, directory:/faoftp/faocommon before start of
trading on April 30, 2010. A detailed list of new contracts being introduced for trading (file name:
CONTRACT29042010.CSV) will be available on the path faoftp/faocommon/contracts on April
29, 2010 after market hours.

For and on behalf of


National Stock Exchange of India Limited

Suprabhat Lala
Asst. Vice President

Contract Information

In pursuance of the Trading Regulations of the Exchange, it is hereby notified as under:

(a) GOLDBEES Futures contracts

GOLDBEES Futures contracts shall be contracts based on Benchmark Mutual Fund – Gold
Benchmark Exchange Traded Scheme.

(b) Underlying

Underlying for the GOLDBEES Futures contracts shall be the GOLDBEES underlying traded in
Cash Segment of the Exchange.

(c) Security descriptor for the GOLDBEES Futures contracts

The security descriptor for the GOLDBEES Futures contracts shall be:
Market type :N
Instrument Type : FUTETF
Symbol : GOLDBEES
Expiry date : Date of Contract Expiry (Last Thursday of the month)
Last Trading Day: One trading day prior to expiry day
(d) Trading cycle

In pursuance of Trading Regulations of the Exchange, it is hereby notified that GOLDBEES


Futures contracts shall have a maximum of three-month trading cycle. New expiry contracts will
be introduced on the trading day following the last trading day of the near month contract.

(e) Expiry day

In pursuance of the Trading Regulations of the Exchange, it is hereby notified that GOLDBEES
Futures contracts shall expire on the last Thursday of the month. If the last Thursday is a trading
holiday, the contracts shall expire on the previous trading day.

(f) Last Trading Day:

Last trading day with respect to futures contracts of GOLDBEES shall be the last Wednesday of
the month (i.e. one trading day prior to the expiry day of the month).

(g) Spread Contracts:

The spread contracts on GOLDBEES futures shall be available for Near-mid months and Mid-Far
months expiry combinations.

Trading Parameters

In pursuance of Trading Regulations of the Exchange, the following trading parameters and order
attributes are specified:

(a) Order type/Order book/Order attribute


• Regular lot order
• Stop loss order
• Immediate or cancel
• Spread order

(b) Permitted lot size

The permitted lot size for the GOLDBEES futures contracts shall be 125 units and multiples
thereof.

(c) Price steps for contracts

The price steps in respect of all GOLDBEES futures contracts admitted to dealings on the
Exchange shall be Re.0.05.
(d) Quantity Freeze

Orders which may come to the Exchange as a quantity freeze shall be the lesser of the following:

1. 1% of the Market-wide position limit.


Or
2. Value of the contract of around Rs.5 crores.

The quantity freeze limits shall be based on number of contracts arrived at by dividing the above
by market lot and rounding off the number of contracts to the nearest 10 contract on the higher
side. The number of contracts thus arrived at would be multiplied by the market lot to arrive at the
final freeze quantity. In respect of such orders which have come under quantity freeze, the
member is required to confirm to the Exchange that there is no inadvertent error in the order entry
and that the order is genuine. On such confirmation, the Exchange, at its discretion, may approve
such order subject to availability of turnover/exposure limits, etc.

(e) Base Price & operating ranges applicable to the contracts.

Base price of the Futures Contracts on introduction of new contracts shall be the theoretical price.
The base price of the contracts on subsequent trading days will be the daily settlement price of the
respective futures contracts.

There shall be no daily price bands applicable for futures contracts. However in order to prevent
erroneous order entry by members, operating ranges will be kept at +/-20% of the base price of
contracts. The orders beyond the price range come under price freeze. In respect of all the orders
which have come under price freeze, exchange shall suo motto cancel these orders.
The operating range for spread contracts shall be 1% of the reference price of the first leg
contract.

(f) Trade Modification requests

Trading members will be permitted to modify trades with respect to Client Codes.

(g) Trade cancellation requests

Requests for trade cancellation, if any, permitted by the Exchange will be allowed on the same
trading day during the Normal Market Hours.