I read that MCX will start trading in brass from March 26, can someone share the contract specifications.
I read that Brass contracts will start trading from next week. Can someone share more details?
Here are the contract specifications.
Trading Unit - 1 MT
Quotation - 1 Kg
Price Quote - Ex-Warehouse at district Jamnagar in Gujarat
(excludes only GST)
Maximum Order - Quantity 20 MT
Tick Size (minimum price movement) - 5 Paise per kg
Initial Margin - Minimum 4 % or based on SPAN whichever is higher
Extreme Loss Margin - 1 %
Maximum Allowable Open Position For individual clients: 2, 500 MT for all BRASS contracts
For a member collectively for all clients: 25,000 MT or15 % of the market wide open position, whichever is higher for all BRASS contracts combined together.
Delivery Logic - Compulsory Delivery