| Final settlement price of cotton futures contract |
In terms of the provisions of the Rules, Bye-Laws and Regulations of the Indian Clearing Corporation Limited (ICCL), the Members are notified as under: Please note that spot prices were not available during normal Due Date Rate (DDR) period of E-0 & E-1 due to Novel Covid19 pandemic outbreak and complete lockdown of physical markets across India.
Hence, Due Date Rate (DDR) of contracts expiring on March 31, 2020, has been calculated as per the approved contract specification (refer notice no. 20200210-26 dated February 10, 2020 - https://www.bseindia.com/markets/MarketInfo/DispNewNoticesCirculars.aspx?page=20200210-26, the provision relating to FSP is as under:
For contracts where, Final Settlement Price (FSP) is determined by polling, unless specifically approved otherwise, the FSP shall be arrived at by taking the simple average of the last polled spot prices of the last three trading days viz., EO (expiry day), E-l and E-2. In the event the spot price for any one or both of E- l and E-2 is not available; the simple average of the last polled spot price of EO, El, EO and E-3, whichever available, shall be taken as FSP.
Accordingly, the final settlement price has been derived as above i.e. 17677.43.
For and on behalf of BSE Ltd,
|
Ketan Jantre
|
Sameer Vaze
|
|
Sr.GM- Trading Operations
|
AGM- Trading Operations
|
|