Launching Saffron’s Future Contract for May 2019
Future contract of Saffron Negin for delivery in June 1398 will be launched on Wednesday, March 22, 2013.
These contracts will be able to trade by May 18, 1398, and will begin trading on the first trading day without a pre-opening bid of 30 minutes at the beginning of the trading session and after a single auction at 10:30 and 30 minutes with the ordinary course Transactions and daily fluctuation limits continue.
The futures price will be the same as the price discovered at the single-price auction, which will be the basis for the daily fluctuation margin to continue trading on a continuous auction.
According to the report, if no deal is made at a single auction, the future contract will be stopped and the process repeated on the next working day.
The seventh of July this year, the first contract for saffron was launched on the Iranian stock exchange on the 20th of September, 2012.
The size of each contract, equivalent to 100 grams of premium cut saffron (negin) as the base asset and the daily price limit for saffron, was also positive and negative three percent compared to the settlement price of the previous day.
Setting up the market for futures contracts and opting for the purchase and sale of saffron, along with the closing down of the futures market, has been able to keep commodity market traders on the market.
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