Announcements

Due to a change in the staggered delivery tender period in the futures contract, the expiry dates of the Silver Options contracts will be revised.

For more details, the MCX circular stating the expiry dates of the Silver Options contracts can be viewed here: https://bit.ly/2xVrxxs

Though the expiry date for Silver Options on the Market Watch Screen would continue to display the original dates i.e. November 27, 2019, February 26, 2020, April 28, 2020 and June 26, 2020 the contract will be available for trading only till November 26, 2019, February 25, 2020, April 24, 2020 and June 24, 2020 respectively.

Square off will be at 3 PM for Equity Intraday and F&O, and at 11 PM for MCX. Kindly plan your trades accordingly.

?5X margins on CO orders in Nifty and Bank Nifty Futures only.
?3X margins on Intraday products in EQ (for F&O-listed stocks only).
?3X margins on Intraday products in F&O.
?2.5X margins on Intraday products in MCX (Crude Oil unavailable).
?OCO orders are blocked for the day.

MCX trading and intraday square off timings are set to change from 23rd April 2020.

Trading timings for commodities has been revised to 9:00 AM -11:30 PM. All Intraday position square off timings will be 11:00 PM.

Read more about this revision here- https://www.mcxindia.com/docs/default-source/circulars/english/2020/april/circular-281-2020.pdf?sfvrsn=5f5a8990_0

In a historic decision being taken by MCX considering the global market conditions of crude oil, the futures contracts of Crude Oil which expired yesterday i.e. 20th April, 2020 are to be closed out at a price of Rs. -2884 per barrel (Negative Two Thousand Eight Hundred and Eighty Four).

What would this mean?

Clients who had long positions at expiry shall be debited with the said amount multiplied by the number of lots they had bought.

And

Similarly clients who had short positions at expiry shall be credited with the said amount multiplied by the number of lots they had short-sold.

Here’s an example to help you understand this better: 

1 lot of Crude Oil =  100 Barrels

Long Position: 1 lot X 100 X -2884 = -288400 (to be debited)

Short Position: -1 lot X 100 X -2884 = 288400 (to be credited)

For more details, the MCX circular giving the close out price can be viewed here: https://www.mcxindia.com/docs/default-source/circulars/english/2020/april/circular-282-2020.pdf?sfvrsn=b7598990_0

Following the directives of the above circular, the ledger of our clients has been debited/ credited considering their long positions/short positions respectively.

Considering the fact that the entire market is not very pleased with the above decision of MCX and with the possibility that MCX / SEBI may reconsider their decision, the fund amounts of clients who have been credited as per above the circular shall be blocked. Clients won’t be allowed any exposure nor would be able to withdraw such amounts till further notice /clarification.