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FORWARD MARKETS COMMISSION, MUMBAI
FORWARD MARKETS COMMISSION, MUMBAI Highlights/ Important Developments for the fortnight from 1.9.2014 to 15.9.2014 1. Total value of trading at the Commodity Exchanges during the fortnight, 1st September, 2014 to 15th September, 2014 was ₹ 2,49,732.00 crore. The cumulative value of trade from 1stApril, 2014 upto 15th September, 2014 during the financial year 2014-15 was ₹ 26,95,953.39 crore. The corresponding figures for the previous year were ₹ 3, 31,595.36 crore and ₹ 62, 29,765.81 crore respectively. 2. The Commission, on 10th September, 2014 has extended the period of appointment of Shri Santosh Kumar Mohanty, Director in the Commission as Independent Director on the Board of the Multi- Commodity Exchange of India Ltd, (MCX), Mumbai to represent the Central Government for a period of one year w.e.f. 1st September, 2014. 3. The Commission, on 11th September, 2014 has conveyed no objection for appointment of Mr. Parveen Kumar Singhal as Director on the Board of MCX in terms of Clause 1.2 of the Revised Norms dated 11th June, 2014 issued by the Commission. 4. The Commission on 2nd September, 2014 decided that NCDEX shall not launch any new/further contracts in Coriander/Dhaniya till the expiry of contracts as per calendar without FMC’s prior approval. However, trading in existing contracts would continue. This decision was taken because the Commission observed that as against the total open interest of 62320 MT in coriander futures contract on NCDEX as on 26th August, 2014, the total deposits in the Exchange accredited warehouses during the last six months was only 620 MT. Further there had been no deliveries by Exchange in the current year beginning from April 2014 to August 2014. In the absence of threat of delivery in coriander contract, the quality of fair price discovery in such contracts is doubtful. It was further observed that quoted price at spot market were far away from price polled/quoted at futures market. 5. Developments at National Spot Exchange Limited (NSEL): (i) There was one pay out during the fortnight under reference, i.e., pay out scheduled on the 4th September, 2014 of ₹ 1.85 crore [54th and 55th payout combined as 55th pay out]. (ii) The progress of recovery of dues from the defaulting members was reviewed by the Commission. On the basis of feedback received from the members/investors bodies represented on the Monitoring and Auction Committee, the -1- Commission noted that depletion of human resources, lack of financial resources and weak organisational structure at NSEL has posed a major impediment in the recovery process and consequently contributed to negligible progress in recovery of dues by NSEL from the defaulting members. As per the information with the Commission, most of the Assets/Properties belonging to the defaulting members have reportedly been attached by EOW of Mumbai Police and the same are to be disposed by the competent authority appointed in terms of the provision of MPID Act. Some more assets belonging to the defaulters are reportedly attached by the Enforcement Directorate (ED) and are being dealt with under separate proceedings before the ED. Under the circumstances all the attached assets of the defaulters shall henceforth be subjected to liquidation/auction by the respective competent authorities as per the procedure under the respective governing laws. (iii) The Hon’ble High Court of Bombay, while hearing the Suit No.173 of 2014 filed by Modern India Limited versus FTIL & Others, has passed an order on 2nd September, 2014 appointing a three member committee, as proposed in the minutes of the order agreed to by the parties, to carry out functions relating to ascertaining the dues payable by each of the defaulters and for the recovery of such dues. Keeping in view the above said developments, the Commission decided that there was no need any more to continue with the Monitoring cum Auction Committee (MAC) at NSEL, and hence it has been decided to wind up the said Committee. This was informed to NSEL vide letter dated 4th September, 2014. 6. The Forward Markets Commission organized the following capacity building programmes for the benefit of various stakeholders. The details of the programmes are as follows: Sr. No. 1 Name of the lead Institute NABCONS, Mumbai Name of the programme Commodity Futures Market Place Andhra Pradesh Date 15 -16th September, 2014 2 BIRD, Lucknow Commodity Futures Market Central Zone- U.P., M.P.Chattisgarh- at Lucknow -2- 15-16th September, 2014 • Sr.Nos. (a) 1 (b) (a) 2 (b) (a) 3 (b) (a) 4 (b) (a) 5 (b) (a) 6 (b) Trade Data Summary: Particulars (Value of Trade in ₹ Crore) 2013-14 % growth in 2014-15 over 2013-14 2014-15 Total value of trade during the fortnight ending 15th September Cumulative value of trade during the year from 1stApril to 15th September Total value of trade in Agri Commodities during the fortnight ending 15th September Cumulative value of trade in Agri Commodities during the year from 1stApril to 15th September Total value of trade in Bullion during the fortnight ending 15th September Cumulative value of trade in Bullion during the year from 1stApril to 15th September Total value of trade in Metals other than Bullion during the fortnight ending 15th September Cumulative value of trade in Metals other than Bullion during the year from 1stApril to 15th September Total value of trade in Energy during the fortnight ending 15th September Cumulative value of trade in Energy during the year from 1stApril to 15th September Total value of trade in other Commodities during the fortnight ending 15th September Cumulative value of trade in other Commodities during the year from 1stApril to 15th September -3- 249732.00 331595.36 -24.69 2695953.39 6229765.81 -56.72 45582.01 63960.99 -28.73 543670.30 687561.35 -20.93 81638.41 142013.34 -42.51 946920.18 2808876.88 -66.29 57099.33 58730.13 -2.78 602811.38 1168808.72 -48.43 65412.25 66890.90 -2.21 602551.52 1564518.87 -61.49 0.00 0.00 0.00 0.00 0.00 0.00 The Statement gives Exchange wise/Commodity wise comparative picture as on 1.9.2014 and 15.9.2014.The figures for 1.9.2014 are given in parenthesis in each row in column numbers 5 to 12. The total volume and value of trade during the fortnight is given in column 13 and 14 respectively. FORTNIGHTLY DISSEMINATION OF DATA Sr. No Name of Exchange 1 1 2 Multi Commodity Exchange of India Limited, Mumbai Name of Commodity 3 National Commodity & Derivatives Exchange Ltd. Mumbai 4 Gold 10 Gm Crude Oil Barrel Silver KG Zinc KG Natural Gas 2 Price Unit mmBtu Copper KG Nickel KG Aluminum KG Lead KG CPO 10 KG Castor Seed 100 kg Soya Oil 10 Kg Soya Bean 100 kg Chana 100 kg Prices in ₹ Spot Futures Near Month Contract 5 6 26975.00 26999.00 (27761.00) (27934.00) 5614.00 5667.00 (5803.00) (5821.00) 41400.00 40858.00 (42193.00) (42004.00) 137.50 137.75 (142.15) (142.75) 234.70 240.20 (245.80) (247.70) 416.65 422.30 (417.95) (427.40) 1113.30 1106.20 (1128.30) (1134.40) 119.45 120.55 (125.90) (126.70) 128.25 128.10 (134.85) (135.00) 457.50 458.80 (456.20) (437.60) 4064.30 (4150.00) 630.00 (616.75) 3573.00 (3701.00) 2908.35 (2961.45) 4082.00 (4041.00) 634.95 (600.95) 3211.00 (3270.00) 2774.00 (2860.00) Position as on 15.9.2014 Open Interest Near Month All Contract Contracts 7 10.09 (9.70) 157544.34 (184133.70) 373.71 (16.05) 21095 (29830) 7573750 (9130000) 10257 (8124) 1934.25 (1001.25) 26050 (36040) 13300 (10385) 15880 (25680) 8 15.29 (14.30) 211200.55 (207039.56) 373.71 (293.52) 28225 (33695) 9720000 (10476250) 10257 (8124) 2168.75 (1056.25) 41140 (46535) 14860 (10920) 86700 (70510) 7800 (110050) 10525 (41985) 70800 (71350) 3030 (91870) 349400 (375630) 199945 (243435) 217890 (183350) 219310 (228880) -4- Volume in Natural Gas in mmBtu and for other Commodities in MT Value of Trade in ₹ crore During 1– 15 September 14 Trading Volume Value of Trade Total Near All Contracts Near All Volume Value Month Month Contracts Contract Contract 9 10 11 12 13 14 16.31 16.67 4402.094 4499.723 191.84 52413.965 (4.64) (5.06) (1296.589) (1414.085) 1417967.26 1550463.85 5838.433 6382.124 12355538.88 51308.637 (392291.95) (413765.35) (1672.189) (1763.410) 401.67 401.67 1663.167 1663.167 6671.71 27993.617 (72.63) (300.27) (306.017) (1281.511) 61265 63825 847.015 882.598 1047875 14865.766 (42465) (43335) (605.467) (617.923) 56772500 62087500 1359.816 1489.930 592643750 14092.840 (29947500) (31897500) (737.171) (786.135) 20809 20809 876.423 876.423 280128.50 11901.626 (12689) (12689) (542.441) (542.441) 6537.75 6829.75 728.480 761.242 103269.75 11892.393 (4064.25) (4128.25) (462.352) (469.677) 51335 54485 622.396 660.995 739323 9243.742 (40305) (42400) (510.709) (537.447) 48695 49720 625.560 638.815 698756 9195.798 (30280) (30625) (409.380) (414.070) 15070 41960 68.364 188.394 428000 1860.194 (14550) (22530) (63.697) (97.412) 19262.946 20464.851 Total of the Exchange :15770454.091 206876.453 (7841.048) (9479.013) 4380 152120 17.805 625.705 2079658 8526.120 (116960) (253760) (477.459) (1047.042) 10345 125095 65.119 737.279 1187460 6846.724 (45865) (99840) (277.086) (577.245) 60560 114040 194.664 359.663 1294890 4086.106 (48190) (99300) (158.461) (320.637) 3830 75510 10.598 213.575 1307959 3702.762 (47390) (79730) (135.291) (230.538) FORTNIGHTLY DISSEMINATION OF DATA Sr. No Name of Exchange 1 2 3 4 National MultiCommodity Exchange of India Limited, Ahmedabad ACE Derivatives and Commodity Exchange Ltd., Mumbai Name of Commodity 3 Price Unit 4 Guar Seed 10 100 kg Coriander 100 kg R/M Seed 100 kg Guar Gum 100 kg Gold Hedge 10 Gm Turmeric 100 kg Castor Seed 10 MT Rape/Mustard seed 100 Kg 20 Kg Raw Jute 100 Kg Chana 100 Kg Copra 100 Kg Cotton 118 Candy CPO 10 KG Castor Seed 100 KG Prices in ₹ Spot Futures Near Month Contract 5 6 5584.10 5550.00 (5578.85) (5609.00) 11191.10 11206.00 (11253.35) (11801.00) 3707.40 3560.00 (3656.50) (3535.00) 15542.55 15790.00 (15404.35) (15760.00) 24097.00 24211.00 (24907.00) (25082.00) 6110.95 5994.00 (6377.75) (6496.00) Position as on 15.9.2014 Open Interest Near Month All Contract Contracts 7 22480 (22860) 2020 (21070) 3300 (31330) 7411 (10336) 1.202 (1.05) 105 (13230) 8 32820 (27590) 61230 (62220) 76480 (101240) 10554 (11772) 1.21 (1.06) 18325 (19555) 4033 (4155) 678 (671) 2841.9 (2734) 2851 (2907) 11050 (10950) 4033 (4054) 666 (649.5) 2856 (2770) 2778 (2862) 11050 (11005) 0 (480) 0 (380) 540 (580) 0 (420) 0 (87) 1220 (920) 910 (730) 1060 (1140) 710 (810) 119 (191) 39050.00 (39970.00) 457.25 (454.20) 4069.50 (4123.00) 37990.00 (37550.00) 458.90 (437.50) 4073.50 (4041.00) 46.22 (70.76) 870 (2550) 1090 (2000) 641.79 (573.87) 2290 (4610) 6360 (6360) -5- Volume in Natural Gas in mmBtu and for other Commodities in MT Value of Trade in ₹ crore During 1– 15 September 14 Trading Volume Value of Trade Total Near All Contracts Near All Volume Value Month Month Contracts Contract Contract 9 10 11 12 13 14 33260 48370 184.188 267.186 626610 3580.200 (24670) (28910) (138.368) (162.189) 170 17930 1.905 208.545 282370 3308.733 (15340) (22630) (181.363) (269.595) 2830 58630 10.069 210.975 656270 2346.895 (35000) (58380) (123.422) (206.472) 6967 9148 109.630 143.913 128710 2080.624 (6816) (8271) (107.396) (130.381) 0.53 0.53 127.590 127.590 4.32 1058.460 (0.10) (0.10) (25.332) (25.332) 75 10090 0.449 61.777 160235 1020.398 (9195) (12975) (59.992) (85.250) 769.944 3173.100 Total of the Exchange :8842060.297 39512.352 (1811.226) (3360.200) 0 9640 0 39.39 131310 538.58 (5880) (11500) (24.66) (48.64) 0 9500 0 31.32 108900 356.32 (6500) (11940) (21.23) (39.12) 5090 10090 14.48 28.88 99640 281.37 (6370) (12270) (17.79) (34.47) 450 6000 1.25 17.01 96700 272.70 (4690) (9220) (13.35) (26.62) 0 1319 0 14.79 19757 217.57 (690) (1357) (7.72) (15.27) 16.17 147.60 Total of the Exchange 470401.000 1836.499 (89.78) (175.48) 267.38 769.79 34.447 95.296 8290.24 1025.122 (327.47) (893.88) (41.738) (110.672) NT 20 0.000 0.090 5680 24.622 (850) (1020) (3.732) (4.450) NT 30 0.000 0.126 1860 7.765 (NT) (NT) (0.000) (0.000) FORTNIGHTLY DISSEMINATION OF DATA Sr. No Name of Exchange 1 2 5 6 7 8 9 10 Name of Commodity 3 Price Unit 4 Gold Hedge 10 Gms Chamber of Commerce, Hapur Mustard Seed 100 Kg Rajkot Commodity Exchange Ltd., Rajkot Castor Seed India Pepper & Spice Trade Association, Kochi Pepper MG 1 Bombay Commodity Exchange Ltd., Vashi Spices & Oilseeds Exchange Ltd.,Sangli Cotton Association of India Mumbai Castor seed 100 Kg Prices in ₹ Spot Futures Near Month Contract 5 6 26668.00 26725.00 (27523.00) (27666.00) 3654.00 (3603.75) 3937.50 (4012.50) 3666.25 (3641.25) 4045 (4068) Position as on 15.9.2014 Open Interest Near Month All Contract Contracts 7 0.01 (0.01) 8 0.01 (0.01) 226 (240) 226 (240) 0 (980) 1075 (2055) Volume in Natural Gas in mmBtu and for other Commodities in MT Value of Trade in ₹ crore During 1– 15 September 14 Trading Volume Value of Trade Total Near All Contracts Near All Volume Value Month Month Contracts Contract Contract 9 10 11 12 13 14 NT NT 0.000 0.000 0.01 1.624 (NT) (NT) (0.000) (0.000) 34.447 95.512 Total of the Exchange :15830.243 1059.133 (45.470) (115.122) Total for the National Exchanges(A) 25098745.631 249284.437 6902 6902 (11970) (11970) Total of the Exchange 32.63 (43.58) 32.63 (43.58) 1.08 (25.52) 32.63 (43.88) 32.63 (43.58) 9.30 (33.74) 94296 356.98 94296 356.98 21145 87.27 1.08 (25.52) 0 (0) 9.30 (33.74) 0.33 (0.14) 21145 87.27 47 3.31 0 0.33 47 (0) (0.14) 0 0 0 0 0 (0) (0 ) (0) (0) Total of the Exchange 0 0 0 (0) (0) 0 0 0 0 0 (0) (0) (0) (0) Total of the Exchange 0 0 0 (0) (0) 0 0 0 0 0 (0) (0) (0) (0) Total of the Exchange 0 0 0 (0) (0) Total for the Regional Exchanges(B) 115488 Grand Total (A+B) 25214233.631 3.31 480 (6275) 2420 (8215) Total of the Exchange 100 Kg 70500 (72400) NT (NT) 0 (0) 0 (0) 0 (0) 6 (2) Total of the Exchange Turmeric Cotton 100 Kg 100 Kg 100 Kg -- --- --- NP (NP) NP (NP) NP (NP) 0 (0) 0 (0) 0 (0) 0 (0) 0 (0) 0 (0) Note: Natural Gas volume is not included in the Total Volume -6- 0 0 0 0 0 0 447.56 249731.997 Review of Exchange-wise Commodities traded during the fortnight 1st September 2014 to 15th September 2014 1. Multi Commodity Exchange of India Ltd., Mumbai- During the period from 01.09.2014 to 15.09.2014, 16 commodities were traded at the Exchange. Out of these, Gold, Crude Oil & Silver had the highest volume of trade. Name of Contracts being Commodities traded Near month contract -3rd October 2014 Trade across all Highest Price Quoted Gold 3 rd October 2014, th 5 December 2014 & Total Value of Lowest Price Quoted Total Value of Highest Net Trade Open Position contracts ₹ 27967.00/- per ₹ 26790.00/- per ₹ 45461.454 10.439MT on ₹ 52413.965 10 gm on 01.09.2014 10 gm on 12.09.2014 crore 10.09.2014 crore th 5 February 2015 Near month contract - 19th September 2014 Crude Oil 19th September 2014, th 20 October 2014, ₹ 5834.00/- per ₹ 5526.00/- per ₹ 47926.905 191664.39MT on ₹ 51308.637 Barrel on 02.09.2014 Barrel on 11.09.2014 crore 08.09.2014 crore th 19 November 2014 & 18th December 2014 Near month contract – 5th December 2014 Silver 5th September 2014 & th 5 December 2014 ₹ 42950.00/- per ₹ 41011.00/- per ₹ 19875.847 382.890 MT ₹ 27993.617 Kg on 02.09.2014 Kg on 12.09.2014 crore on 19.08.2014 crore -7- 2. National Commodity & Derivatives Exchange Limited, Mumbai-During the period from 01.09.20104 to 15.09.2014, 23 commodities were traded at the Exchange. Out of these Castor Seed, Soya Oil, & Soya Bean had the highest volume of trade. Name of Contracts being Commodities traded Near month contract - 19th September 2014 Trade across all Highest Price Quoted Castor Seed 19th September 2014, th 20 October 2014, Total Value of Lowest Price Quoted Total Value of Highest Net Trade Open Position contracts ₹ 4180.00/- per 100 ₹ 3910.00/- per 100 ₹ 2385.266 110050 MT ₹ 8526.120 Kg on 01.09.2014 Kg on 12.09.2014 crore on 01.09.2014 crore th 20 November 2014, 19th December 2014 & 20th January 2015 Near month contract - 19th September 2014 Soya Oil 19th September 2014, ₹ 635.50/- per 10 Kg ₹ 599.65/- per 10 Kg ₹ 1721.381 41985 MT ₹ 6846.724 20th October 2014, on 15.09.2014 on 02.09.2014 crore on 01.09.2014 crore th 20 November 2014, 19th December 2014, 20th January 2015 & 20th February 2015 Near month contract - 20th October 2014 Soya Bean 20th October 2014, th 20 November 2014, ₹ 3338.00/- per 100 ₹ 3107.00/- per 100 ₹ 2267.744 75130 MT ₹ 4086.106 Kg on 01.09.2014 Kg on 10.09.2014 crore on 10.09.2014 crore th 19 December 2014, 20th January 2015 & 20th February 2015 -8- 3.National Multi-Commodity Exchange of India Ltd., Ahmedabad- During the fortnight ending on 15.9.2014, 6 commodities were traded at the Exchange, Out of these Castor seed, Rape/Mustard seed and Raw Jute had the highest volume of trade. Name of Contracts being Commodities traded Near month contract –15th September 2014 Trade across all Highest Price Quoted Castor seed 15th September 2014 th 15 October 2014 Total Value of Lowest Price Quoted ₹ 4241.50/-per 100 Kg ₹ 3990/- per 100 Kg on 1.9.2014 on 11.9.2014 Total Value of Highest Net Trade Open Position ₹ 205.15 crore contracts 560 MT ₹ 538.58 on 5.9.2014 crore th 15 November 2014 & 15th January 2015 Near month contract –15th September 2014 Rape/Mustard 15th September 2014 ₹ 663.50/-per 20Kg ₹ 639.70/- per 20Kg ₹ 151.05 7610 MT on ₹ 356.32 seed 15th October 2014 on 5.9.2014 on 3.9.2014 crore 5.9.2014 crore th 15 November 2014 & 15th December 2014 Near month contract –30th September 2014 Raw Jute 30th September 2014 ₹ 2883/-per 100 Kg ₹2742.70/-per 100 Kg ₹ 144.21 600 MT on ₹ 281.37 31st October 2014 on 12.9.2014 on 2.9.2014 crore 3.9.2014 crore th 28 November 2014 31st December 2014 & 31st January 2015 -9- 4. ACE Derivatives and Commodity Exchange Ltd., Mumbai -During the period from 01.09.2014 to 15.09.2014, 4 commodities were traded at the Exchange. Out of these, Cotton 118, CPO & Castor Seed had the highest volume of trade. Name of Contracts being Commodities traded Near month contract- 20th October 2014 Trade across all Highest Price Quoted Cotton 118 th Total Value of Lowest Price Quoted Total Value of Highest Net Trade Open Position contracts 20 October 2014, ₹ 38740.00/-per ₹ 37460.00/- per ₹ 368.283 70.756 MT on ₹ 1025.122 20th November 2014, Candy on 10.09.2014 Candy on 01.09.2014 crore 01.09.2014 crore th 19 December 2014, 20th January 2015, 20th February 2015, 20th March 2015, 20th April 2015 & 20th May 2015 Near month contract – 30th September 2014 CPO 30th September 2014, st 31 October 2014, ₹ 450.10 /- per 10 Kg ₹ 429.30 /- per 10 Kg ₹ 16.666 2560 MT on ₹ 24.622 on 12.09.2014 on 10.09.2014 crore 02.09.2014 crore th 28 November 2014, 31st December 2014 & 30th January 2015 Near month contract –19th September 2014 Castor Seed 19th September 2014, th 20 October 2014, ₹ 4142.00/- per 100 ₹ 4080.00/- per 100 ₹ 3.743 2000 MT on ₹ 7.765 Kg on 09.09.2014 Kg on 10.09.2014 crore 01.09.2014 crore th 20 November 2014 & 20th January 2015 - 10 - 5. Chamber of Commerce, Hapur Name of Contracts being Commodities traded Near month contract - 15th October 2014 Trade across all Highest Price Quoted Mustard seed 15 th October 2014 Total Value of Lowest Price Quoted ₹ 3688.75 per ₹ 3627.00 per 100 kg on 4.9.2014 100 kg on 1 .9.2014 Total Value of Highest Net Trade Open Position ₹ 356.98 crore 384 MT on 2.9..2014 contracts ₹ 356.98 crore 6. The Rajkot Commodity Exchange Ltd., Rajkot Name of Contracts being Commodities traded Near month contract - 30th September 2014 Trade across all Highest Price Quoted Castor Seed 30th September 2014 th 30 December 2014 Total Value of Lowest Price Quoted Total Value of Highest Net Trade Open Position ₹ 4152.00 per 100 kg ₹ 3980.00 per 100 kg ₹ 47.54 980 MT on 1.9.2014 on 2.9.2014 crore on 1.9.2014 contracts ₹ 87.27 crore 7. India Pepper & Spice Trade Association, Kochi Name of Contracts being Commodities traded Near month contract -15th September 2014 Trade across all Highest Price Quoted Pepper MG1 th 15 September 2014 15 th October 2014 Total Value of Lowest Price Quoted ₹ 74000/- per 100 kg ₹ 72275/- per 100 kg on 11.9.2014 on 15.9.2014 15th November 2014 15th December 2014 15th January2015 15thFerbuary 2015 - 11 - Total Value of Highest Net Trade Open Position ₹ 0.49 crore -- contracts ₹ 3.31 crore 8. Bombay Commodity Exchange Ltd., Vashi Name of Contracts being Commodities Traded Near month contract – Trade across all Highest Price Quoted Castor seed Permission not granted Total Value of Lowest Price Quoted -- Total Value of Highest Net Trade Open Position -- -- -- contracts -- 9. Spices & Oilseed Exchange Ltd., Sangli Name of Contracts being Commodities traded Near month contract – Trade across all Highest Price Quoted Turmeric Permission not granted Total Value of Lowest Price Quoted -- Total Value of Highest Net Trade Open Position -- -- -- contracts -- 10. Cotton Association of India, Mumbai Name of Contracts being Commodities traded Near month contract – Trade across all Highest Price Quoted Cotton Permission not granted Total Value of Lowest Price Quoted -- -- - 12 - Total Value of Highest Net Trade Open Position -- -- contracts --