Launching a new agreement on Saffron
Future contract of saffron on the first day of trading, without the price fluctuation of the pre-opening period for 30 minutes at the beginning of the trading session, begins after the one-price auction at 10:30 pm with the normal trading period and the daily fluctuation limit applies.
The base price of the futures contract will be the same as the price discovered at the single price auction, which will be based on the daily fluctuation margin to continue trading on a continuous auction. If no one trades at a single 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 in June of the current year, the first futures contract for saffron was launched on the Iranian stock exchange in May 2018 and the holders of the futures contracts on the stock exchange traded the product.
In the first contract for saffron, the size of each contract was 100 grams of premium cut saffron (negin) as the base asset and the daily price limit for saffron in these transactions was positive and negative three percent compared to the previous day’s settlement price.
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