logo
MCX revises Nickel futures specifications to enhance market efficiency

MCX revises Nickel futures specifications to enhance market efficiency

News182 days ago
Mumbai (Maharashtra) [India], August 18 (ANI): The Multi Commodity Exchange of India Ltd has announced modifications to the contract specifications of Nickel futures contracts. The changes that took effect from today, are designed to enhance market efficiency, improve delivery flexibility, and bring Indian contracts in line with global practices, the commodity exchange said in a statement Monday.The modifications include changes to the trading unit, expiry date, and delivery arrangements. The trading unit will be reduced from 1500 kgs to 250 kgs, effective from the September 2025 expiry contract onwards. The last trading day of the contract will be shifted from the last calendar day of the expiry month to the third Wednesday of the expiry month, or the preceding working day in case of a holiday. Additionally, there will no longer be designated additional delivery centres at Chennai, NCR, and Kolkata; however, as per SEBI's circular, exchanges may accredit warehouses within a 100 km radius of the existing delivery centre at Thane, Maharashtra.The revised contract specifications for the Exchange will include a trading unit of 250 kgs, a minimum tick size of Rs 0.10 per kg, daily price limits of 4 per cent, and margins set at a minimum of 10 per cent or SPAN, whichever is higher. The modified contract specifications and trading parameters will be binding on all members of the Exchange and their constituents.Praveena Rai, Managing Director, and Chief Executive Officer of MCX, said, 'These modifications are part of MCX's ongoing efforts to make Nickel futures contracts more efficient, transparent, and aligned with evolving market needs. By reducing the trading unit, revising expiry schedules, and streamlining delivery processes, we are providing market participants with greater flexibility, improved liquidity, and a product structure that matches global benchmarks." (ANI)
Orange background

Try Our AI Features

Explore what Daily8 AI can do for you:

Comments

No comments yet...

Related Articles

Delhi HC sends notice to Civil Aviation Ministry on PIL citing vacancies
Delhi HC sends notice to Civil Aviation Ministry on PIL citing vacancies

Indian Express

time28 minutes ago

  • Indian Express

Delhi HC sends notice to Civil Aviation Ministry on PIL citing vacancies

In the aftermath of the Air India Boeing crash in Ahmedabad in June, the Delhi High Court on Wednesday sought the Ministry of Civil Aviation's response in a public interest litigation highlighting several vacancies as highlighted in a Parliamentary Standing Committee report. A PIL, filed earlier by advocate Udai Vikram Singh Rathore and represented by advocate Abir Phukan, has sought the court's directions to the MCA to make public all orders, decisions and penalties issued by it from January 2019 till date with respect to aviation incident reports in compliance with international civil aviation standards. Considering the PIL, the High Court had issued notice to the Directorate General of Civil Aviation and Airport Accidents Investigation Bureau in March. Rathore, in a fresh application, has now also highlighted vacancies and underutilisation of funds. Relying on a report by the Parliamentary Standing Committee on Grants for the Ministry of Civil Aviation, submitted nearly three months before the crash in March, Rathore, through his advocate Phukan, highlighted before the division bench of Chief Justice DK Upadhyaya and Justice Tushar Rao Gedela that there are 879 vacant positions in the DGCA, 208 in Bureau of Civil Aviation Security (BCAS) and another 3,265 vacancies in the Airports Authority of India (AAI). Rathore has highlighted that with such an acute shortage of personnel raises questions on the efficiency and effectiveness of enforcing safety standards in aviation. The parliamentary report also highlights a reduction of budget allocation for Ministry of Civil Aviation, from Rs 3,113 crore in the year 2023-24 to Rs 2,357 crore in the year 2024-25, and a reduction in the total capital outlay for the ministry from Rs. 755.8 crore in 2023-24 to Rs. 70 crore in 2025-26. The application further highlights that the Parliamentary Committee noted that on review of the expenditure pattern over the last three (3) financial years, it was found that there was 'significant underutilisation of funds' particularly for the DGCA (Rs. 15.14 crore spent out of Rs. 22.64 crore), BCAS (Rs. 4.42 crore spent out of Rs. 8 crore) and the Secretariat and AAIB (Only Rs. 1.78 crore spent out of Rs. 13.70 crore). Issuing notice to the authorities under MCA as well as to AAI, the bench has now sought their response.

MEA rejects Nepal's protest over India-China trade via Lipulekh, cites historical position
MEA rejects Nepal's protest over India-China trade via Lipulekh, cites historical position

New Indian Express

time28 minutes ago

  • New Indian Express

MEA rejects Nepal's protest over India-China trade via Lipulekh, cites historical position

NEW DELHI: India on Wednesday rejected Nepal's objection to the resumption of border trade with China through the Lipulekh Pass, saying Kathmandu's territorial claims are 'neither justified nor based on historical facts.' Responding to media queries on remarks by Nepal's Ministry of Foreign Affairs, Indian foreign ministry spokesperson Randhir Jaiswal said, 'Our position in this regard has been consistent and clear. Border trade between India and China through Lipulekh Pass had commenced in 1954 and has been going on for decades.' He said trade through the Himalayan pass had been disrupted in recent years due to the COVID-19 pandemic and other factors, and was now being resumed by mutual agreement between India and China. Nepal has objected to the move, claiming Lipulekh as part of its territory—a position India has consistently contested. 'As regards territorial claims, our position remains that such claims are neither justified nor based on historical facts and evidence. Any unilateral artificial enlargement of territorial claims is untenable,' Jaiswal said. While rejecting Nepal's claim, India reiterated its willingness to engage with Kathmandu. 'India remains open to constructive interaction with Nepal on resolving agreed outstanding boundary issues through dialogue and diplomacy,' Jaiswal said.

Flipkart expands Northeast operations with new grocery fulfilment centre
Flipkart expands Northeast operations with new grocery fulfilment centre

Business Standard

time28 minutes ago

  • Business Standard

Flipkart expands Northeast operations with new grocery fulfilment centre

E-commerce firm Flipkart has opened its first grocery fulfilment centre in Agartala, Tripura, marking a strategic expansion into Northeast India's fast-growing online grocery market. The new facility aims to improve last-mile delivery capabilities and offer flexible delivery slots, addressing rising consumer demand in Agartala and surrounding regions. The centre will stock more than 4,000 products, including staples such as rice, flour and pulses, as well as snacks, beverages, household supplies and personal care items. Flipkart said the assortment reflects consumer insights and includes several locally favoured brands to align with regional preferences. The move highlights Flipkart's push to deepen penetration in underserved markets, a key battleground for Indian e-commerce. The company continues to expand its supply chain infrastructure as demand for convenient, same-day delivery grows in tier-2 and tier-3 cities. 'Flipkart leverages its homegrown technology to keenly identify high-demand hotspots and address consumer needs for quality grocery products,' said Rajneesh Kumar, chief corporate affairs officer, Flipkart Group. 'As we continue to expand our footprint across the country, the new FC aligns with our commitment to strengthening partnerships with local farmers, MSMEs and other regional businesses.' Manik Saha, chief minister of Tripura, said this development marks an important step in enhancing the state's digital infrastructure and strengthening its supply chain capabilities. 'I am confident that this initiative will contribute meaningfully to local employment generation and skill development, empowering our youths and communities,' said Saha. Tripura is emerging as a key market for digital retail in the Northeast, with growing demand for e-grocery services. With its evolving consumer landscape and expanding digital footprint, the state presents a significant growth opportunity for Flipkart. By investing in Tripura's e-commerce infrastructure, Flipkart aims to bridge the digital divide, serve value-conscious customers beyond metros and support inclusive regional development. Spread over 35,000 square feet, the new facility has a dispatch capacity of more than 5,000 orders per day across Tripura as well as Manipur, Meghalaya, Mizoram and Nagaland. The FC will provide more than 200 direct and indirect job opportunities while unlocking market access for small businesses, MSMEs and local farmers. This launch is part of Flipkart's broader strategy to enhance serviceability in the Northeast while empowering local ecosystems through economic participation.

DOWNLOAD THE APP

Get Started Now: Download the App

Ready to dive into a world of global content with local flavor? Download Daily8 app today from your preferred app store and start exploring.
app-storeplay-store