Dear TJ Members!
Trading in Crude Oil contracts will resume from Monday 18th May, 2020
• MIS, CO, BO order types will be blocked for now. Only NRML orders shall be allowed.
• Only current month and next month contracts shall be opened.
• Crude Oil futures will be available for trading till one day before the expiry date.
• No fresh buying or selling will be allowed on the expiry date. You will only be able to close the open positions.
• As no auction window will be available on the expiry day. Client must close their open positions by 5 PM on the expiry day. All open positions shall be closed by RMS, in case client fails to close the positions.
• Margins will be as per the exchange, that is 100% margin + 1 Lac for the current month and 100% margin + Rs 50000 for other months onwards.
Please note, if Crude Oil crashes in a day :
a) In case crude oil crashes more than 50% in a day, client has to pay an additional margin of 50% of MTM failing which positions will be cleared by the RMS dept.
b) In case crude oil crashes more than 75% in a day, client has to pay an additional margin of 100% of MTM failing which positions will be cleared by RMS dept.
c) In case crude oil crashes more than 90% in a day, client has to pay additional margin of 125% of MTM failing which positions will be cleared by RMS dept.
Trading will only be allowed in NEST and ScalperT, not in BEST software.
Options expiry is 4 days before the crude expiry and all in the money options are converted in future, if client has sufficient margin in account.
No hedging benefits will be allowed as they not allowed by the exchange.
Thanks