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Gold Coin Futures Contract Specifications
Gold Coin ( Bahar Azadi)
Fineness of 900/ weight 8.133 grams minted by the Central Bank of Iran
12 month of year
Daily price limit
Max up to +/- 5% with respect to the settlement price of the previous day
As of the date mentioned in the trading notice up to 5 calendar days prior to the termination of the contract month
From the first business day past the last trading date till the end of the month
The exchange clearing house
It’s a flexible amount which is dynamic during the course of the trading duration and is calculated from this formula: A=(B/C+1)*C
Where A: is the initial margin B: the weighted average of the settlement prices of all contract months of gold coin future , C= 40 USD
60% of Initial margin
volume limit per order
10 contract max
Rial/ convertible to USD
Delivery & final settlement fee
GCMMYY ( M stands for month Y stands for year)
Entities: 100 contract per symbol upgradable up to 10% of the registered corporate capital and limited to 20% of the whole positions held in the market
Delivery intension notice date
2 business days prior to the last trading date up to 30 minutes after the end of trading session.
a)1% of the total contract value calculated based on the settlement price of the previous day, for failure in presenting the delivery intension notice
B) 1% of the contract value for the failure to submit the warehouse warrant to the exchange
c)1% for the failure in paying the contract value in terms of last day settlement price
d)in case of being a deferential between the market spot price and the last day settlement price and it compensates the losses of the non-defaulting client, the differential shall be debited from the defaulting client’s account and paid to the account of the non-defaulting client . In all above cases the delivery and settlement fee shall be debited from the account of the defaulting client to the benefit of the exchange.
Only the coins of the last year of minting, 1386 ( 2007) are receivable. The whole positions of the market shall not exceed the total number of coins minted by the Central Bank of Iran.
IME’s oil and petrochemical trading floor witnessed on Wednesday, April 26, 2017, trade of 20,000 tonnes of vacuum bottom from Tehran, Shiraz and Bandar-e-Abbas Oil Refineries.
Iran Mercantile Exchange published its Seventh English quarterly newsletter, Winter 2017.
The agricultural trading floor of Iran Mercantile Exchange will play host to offering of 134,000 MT of various commodities, on Wednesday, April 26.
Saturday, April 29, 2017 09:01
Export Trading Floor
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