Market regulator Forward Markets Commission (FMC) has given approval for the futures trading in Rapeseed / Mustard seed (2 MT) contracts expiring in 2015 at NCDEX. The trading in the contracts shall be subject to Rules, Bye- laws and Regulations and also contract specifications of the said commodity as approved by the Commission and also the directions issued by the Commission from time to time.
FMC has approved NCDEX’s rapeseed-mustard seed futures contract which has a trading unit of two tonnes and a delivery centre at Jaipur. The permission for the Rape Mustard seed contracts shall also be subject to the limits on open position of each member and non-member client and the limit on daily price fluctuation and special margins are as specified in the contract specification.
The regulator said the exchange should ensure there is no unhealthy speculative trading in the market and the commodity deposited in accredited warehouse should comply with the regulations laid down by other authorities like the Food Safety Standard Authority of India (FSSAI).