Bank and Media: The Iranian stock exchange has issued a notice announcing on Tuesday, September 27, this month
Future contract of first grade saffron (ordinary umbrellas) is scheduled for delivery in November this year and will be negotiable until 21.08.2013.
According to the Bank and Media, according to the Public Relations of the Commodity Exchange, futures will begin on the first trading day without a price fluctuation, with a pre-opening period of 90 minutes at the beginning of the trading session and after a one-price rally auction at 11:30 With the normal trading period and the daily fluctuation limit, the price continues.
The base price of the futures contract will be the same as the price found at the single-price auction, which will be based on the daily fluctuation margin for continued auctioning. Obviously, in the absence of a single-price auction, the future contract will be stopped and the same process will be repeated again on the next business day. It should be noted that the pre-opening period will be 30 minutes on other trading days other than the first day.
The size of each futures contract is the same as saffron neigen 100 grams, and the daily fluctuation is a maximum or negative price of 3%, which is determined according to the settlement price of the previous day.
The trading hours of this contract in the futures exchange market are from 10 to 17 on Thursdays and from 10 to 16 on Thursdays, and on the last trading day between 10:00 and 15:30.
Approved ceilings for accredited open positions for natural persons 1000 positions per trading symbol and for legal entities 1000 positions per trading symbol and can be increased up to 10% of open positions in that symbol on the market. For marketers, the ceiling is also 1,000 positions in each trading symbol, with up to 20% of accruals open on that market symbol.
At the end of the report, at least 10 contracts have been announced for the delivery date of ordinary saffron at the time of the end of the next contract.
