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Table Of Contents

1.1Derivatives Defined
1.2Products, Participants And Functions
1.3.1Spot versus Forward Transaction
1.3.2Exchange Traded Versus OTC Derivatives
1.3.3Some commonly used Derivatives
1.4.1Physical Settlement
1.4.2Warehousing
1.4.3Quality of Underlying Assets
2.1.1Commodity Exchange
2.1.2Role of Commodity Exchanges
2.1.3Commodity Derivative Markets in India
2.1.4Indian Commodity Exchanges
2.2Global Commodity Derivatives Exchanges
2.3Latest Developments
3.1.1Shareholders of NCDEX
3.1.2Governance
3.1.3NCDEX Products
3.1.4Initiatives
3.2.1Polling and Bootstrapping
3.2.2Cleansing of data
3.2.3Outsourcing of Polling
3.2.4Validation & Checks on the Polling Processes
3.2.5Independence of the polling agency
3.3Exchange Membership
3.4Risk Management
3.5.1Clearing
3.5.2Settlement
3.5.3Clearing Days and Scheduled Time
4.1Commodities Traded on NCDEX
5.1Forward Contracts
5.2.1Distinction between Futures and Forward Contracts
5.2.2Futures Terminology
5.3Introduction To Options
5.4.1Payoff for Buyer of Asset: Long Asset
5.4.2Payoff for Seller of Asset: Short Asset
5.5.1Payoff for Buyer of Futures: Long Futures
5.5.2Payoff for Seller of Futures: Short Futures
5.6.1Payoff for Buyer of Call Options: Long Call
5.6.2Payoff for Writer of Call Options: Short Call
5.6.3Payoff for Buyer of Put Options: Long Put
5.6.4Payoff for Writer of Put Options: Short Put
5.7Using Futures Versus Using Options
6.1Investment Assets Versus Consumption Assets
6.2.1Pricing Futures Contracts on Investment Commodities
6.2.2Pricing Futures Contracts on Consumption Commodities
6.3The Futures Basis
7.1.1Basic Principles of Hedging
7.1.2Short Hedge
7.1.3Long Hedge
7.1.4Hedge Ratio
7.1.5Advantages of Hedging
7.1.6Limitation of Hedging: Basis Risk
7.2.1 Speculation: Bullish Commodity, Buy Futures
7.2.2 Speculation: Bearish Commodity, Sell Futures
7.3.1Overpriced Commodity Futures: Buy Spot, Sell Futures
7.3.2Underpriced Commodity Futures: Buy Futures, Sell Spot
8.1Futures Trading System
8.2Entities In The Trading System
8.3Commodity Futures Trading Cycle
8.4.1Permitted Lot Size
8.4.2 Tick size for contracts & Ticker symbol
8.4.3Quantity Freeze
8.4.4Base Price
8.4.5Price Ranges of Contracts
8.4.6Order Entry on the Trading System
8.5Margins For Trading In Futures
8.6Charges
8.7Hedge Limits
9.1.1Clearing Mechanism
9.1.2Clearing Banks
9.1.3Depository participants
9.2.1Settlement Mechanism
9.2.2Settlement Methods
9.2.3Entities involved in Physical Settlement
9.3Risk Management
9.4.1SPAN
9.4.2Initial Margin
9.4.3Computation of Initial Margin
9.4.4Implementation Aspects of Margining and Risk Management
9.4.5Effect of violation
10.1Rules Governing Commodity Derivatives Exchanges /Participants
10.2.1Trading
10.2.2Clearing
10.3.1Procedure for Arbitration
10.3.2Hearings and Arbitral Award
11.1 Sales Tax/VAT
11.2.1 Settlement on account of Sales Tax/VAT
11.2.2 Sales Tax/VAT Invoice
12.1Need For Electronic Online Spot Exchange
12.2.1 Constitution of NCDEX Spot Exchange
12.2.2 Trading
12.2.3 Membership
12.2.4 Advantages
13 (c) 43 (a)
14 (d) 44 (a)
15 (c) 45 (b)
16 (a) 46 (c)
17 (d) 47 (a)
18 (a) 48 (b)
19 (c) 49 (a)
20 (b) 50 (c)
21 (d) 51 (c)
22 (a) 52 (a)
23 (b) 53 (d)
24 (c) 54 (a)
25 (a) 55 (b)
26 (a) 56 (d)
27 (a) 57 (b)
28 (d) 58 (c)
29 (b) 59 (d)
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Published by: Shivali Verma on Jul 16, 2011
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