National Commodity & Derivatives Exchange declares special margin of 25% on chana contracts

KOLKATA: National Commodity & Derivatives Exchange (NDEX) on Thursday announced that a special margin of 25% (in cash) on the long side (in addition to the existing special cash margin) and 5% (in cash) on short side has been imposed on all running contracts and yet to be launched contracts in chana with effect from Friday, 22 April 2016.

With stringent surveillance mechanisms in place, NCDEX continues to remain the most trusted platform for transparent price discovery for agricultural commodities in the country.
Mr. Samir Shah, MD & CEO, NCDEX said: “Our chana contract continues to attract value chain participants and remains a key tool for hedging.”

This is the second regulatory action by the exchange after it imposed an additional margin of 5% on both the long side and short side and a special margin of 5% on the long side on all the running Chana contracts on Wednesday, 13 April 2016.

The prices discovered on the exchange platform act as a global benchmark for commodities where India is the largest producer and exporter. It is also used as the benchmark by farmers, processors, exporters and traders in the domestic as well as international markets for price signals.