What are the contract specifications for turmeric trading on MCX?
The contract specifications for turmeric trading on MCX provide information about the standardized terms and conditions for trading turmeric futures contracts. Understanding these specifications is crucial for traders who wish to participate in turmeric trading on MCX.
Contract Specifications
The contract specifications for turmeric trading on MCX include:
- Symbol: TURM
- Contract Size: 10 metric tons
- Price Quote: INR per quintal
- Minimum Price Fluctuation (Tick Size): INR 1 per quintal
- Trading Hours: Monday to Friday, 10:00 AM to 11:30 PM
- Delivery Unit: 10 metric tons
- Delivery Months: January, February, March, April, May, June, July, August, September, October, November, December
- Last Trading Day: 20th of the delivery month
- Expiry Day: 20th of the delivery month
Why are Contract Specifications Important?
The contract specifications provide standardized rules and parameters, ensuring a smooth and efficient trading process. They help market participants understand the obligations and rights associated with trading turmeric futures contracts on MCX. By having clear contract specifications, traders can make informed decisions, manage risks effectively, and avoid any misunderstandings during the trading process.
Conclusion
In conclusion, understanding the contract specifications for turmeric trading on MCX is crucial for traders. These specifications provide standardized terms and conditions for trading turmeric futures contracts. By adhering to these specifications, traders can participate in turmeric trading on MCX with confidence, making informed decisions and managing risks effectively.
By Astrobulls research pvt ltd