| Our Bureau,
Ahmedabad, July 1 The National Multi-Commodity Exchange (NMCE) has reduced the limit on daily price fluctuation in all rubber futures contracts traded on its terminals to two per cent on either side from Monday. And if the price hits either upper or lower side again after a break of 15 minutes, the exchange could relax the cap by another two per cent. Thus, NMCE could now enforce a cap of maximum four per cent on either side, also called upper or lower circuit, as against maximum six per cent earlier, it said in a release here. The changes have been incorporated in pursuance of the regulator Forward Markets Commission (FMC) directive issued on Friday. NMCE provides the e-platform for futures trading in rubber simultaneously in four series, in lots of one metric ton (1MT), the prices being quoted in rupee per quintal.
The exchange has an in-built real-time price discovery system, backed by the warehouse receipt system of Central Warehouse Corporation (CWC). The physical delivery of the commodity is arranged through CWC warehouse at Kochi/Ernakulam, Kottayam, Kozhikode, Malapuram and Trichur.
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