Contract Specifications for SGX CNX Nifty Index Futures (IN)
|EXCHANGE||Singapore Exchange (SGX)|
|UNDERLYING STOCK INDEX||CNX Nifty Index|
|TRADING HOURS||Singapore Time
|CONTRACT SIZE||US$2 x SGX CNX Nifty Index Futures price|
|CONTRACT MONTHS||2 nearest serial months and 4 quarterly months on March, June, September and December cycle.|
|MINIMUM PRICE FLUCTUATION||0.5 index point (US$1)|
|TRADING HOURS ON LAST TRADING DAY||9.00am – 6.15pm|
|LAST TRADING DAY||Last Thursday of the month. If this happens to fall on an India holiday, the last trading day shall be the preceding business day.
The expiring contract shall close on its last trading day at 6.15 pm.
|DAILY PRICE LIMIT||
Temporary Price Limits
Effective from 10 October 2008 until further notice from the Exchange
a. an Initial Upper and Lower Price Limit of 10%
(when the Initial Price Limit at 10% is reached, the Exchange will only signal a Cooling Off Period* if the underlying cash market for the SGX Nifty Contract is closed)
b. an Intermediate Upper and Lower Price Limit of 15%
c. a Final Upper and Lower Price Limit of 20%.
Cooling Off Periods* for all price limits (10%, 15% and 20%) will be 5 minutes. There shall be no price limits for the remaining of the Trading Day after the Final Cooling Off Period*.
For the avoidance of doubt,
(i) if the Exchange signals a Cooling Off Period* when the 10% Upper or Lower price limit is reached, all resting bid and offer orders beyond the 10% price limit will automatically be removed from the order book.
(ii) once the Initial Upper and Lower Price Limit of 10% is reached for the Trading Day, the SGX Nifty Contract will then be subject to the Intermediate and Final Price Limits (15% and 20% respectively) for the remainder of the Trading Day. This will apply regardless of whether the Exchange signals a Cooling Off Period* when the Initial Upper and Lower Price Limit of 10% is reached.
There shall be no price limits on the Last Trading Day of the expiring contract.
With regards to the T+1 session, the Daily Settlement Price (DSP) derived in the T session that just ended will be the reference price to determine price limits.
|SETTLEMENT BASIS||Cash Settlement. The Final Settlement Price shall be the official closing price of the CNX Nifty Index, which is derived based on the average weighted prices of the individual component stocks of the index during the last 30 minutes of trading. The official closing price will be rounded to two decimal places.|
|POSITION LIMIT||A person shall not own or control more than 25,000 contracts net long or net short in all contract months combined.|
|ADDITIONAL TRADING FACILITIES||
Negotiated Large Trade (NLT):
Minimum size 50 lots
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