The National Commodity & Derivatives Exchange Limited, (NCDEX), on February 27, 2024, issued a notification regarding the Settlement Calendar and timelines for submission of delivery intentions for all the futures contract expiring in March 2025.
Members are advised that as per Byelaws 8.20.3 and Regulations 3.3.43, 5.8, and 5.14.2, the Settlement Calendar and timelines for submission of delivery intentions for all Futures Contracts expiring in March 2025 are outlined in the provided tables. Members must refer to the Settlement Type key for commodity classification based on delivery logic and settlement type.
For Compulsory delivery futures contracts with a staggered delivery mechanism, settlement will occur compulsorily on contract expiry. The relevant Settlement Number corresponding to the Tender date should be used.
Members can submit delivery intentions up to 1.5 hours after market close, i.e., until 6:30 PM during the staggered delivery period, including on expiry day. Delivery for open positions at contract expiry will be mandatory after claiming early pay-in.
For Compulsory delivery contracts, sellers must submit location preferences through NCFE. If no preference is given, the base location will be assigned.
Failure to meet delivery obligations will result in penalties, including a 3% additional penalty for default by sellers who have stock in NCCL-approved warehouses or have marked an intention. Repeated default within six months will attract an additional 3% penalty per instance.
To simplify GST settlement and physical delivery processes, NCCL has prescribed specific procedures, and late fees apply for non-adherence to timelines. GST on penalties will be collected along with the penalty amount.
[Notification No. NCCL/CLEARING-006/2025]
