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Wednesday, May 18, 2016

Silver Commodity Trading in India

  

Silver Commodity Trading in India

Silver as a commodity is traded in three commodity exchanges in India:

  1. Multi Commodity Exchange (MCX).
  2. National Commodity & Derivatives Exchange (NCDEX).
  3. National Multi Commodity Exchange (NMCE).
MCX

Silver is traded in 3 contract types:

Silver Mini (SILVERM)
  • Trading units of 5 kg.
  • Base value of 1 kg.
  • Price quotation: Ex-Ahmedabad.
  • Maximum order size of 600 kg.
  • Daily price limit of 4%.
  • Tick size (minimum price movement) of Re. 1 per kg.
  • Upper limit on positions: 60 MT for all silver contracts combined for individual investors. 300 MT or 15% of market wide open positions for a member collectively investing for all clients.
  • Purity grade 999 and fineness 999.
Silver Micro (SILVERMIC)
  • Trades from Monday to Friday.
  • Trading units of 1 kg.
  • Base value of 1 kg.
  • Price quotation: Ex-Ahmedabad.
  • Maximum order size of 600 kg.
  • Daily price limit of 4%.
  • Tick size (minimum price movement) of Re. 1 per kg.
  • Upper limit on positions: 60 MT for all silver contracts combined for individual investors. 300 MT or 15% of market wide open positions for a member collectively investing for all clients.
  • Purity grade 999 and fineness 999.
Silver 1000 (SILVER 1000)
  • Trades from Monday to Friday.
  • Trading units of 5 kg.
  • Base value of 1 kg.
  • Price quotation: Ex-New Delhi.
  • Maximum order size of 600 kg.
  • Daily price limit of 4%.
  • Tick size (minimum price movement) of Re. 1 per kg.
  • Upper limit on positions: 60 MT for all silver contracts combined for individual investors. 300 MT or 15% of market wide open positions for a member collectively investing for all clients.
  • Purity grade 999 and fineness 999.
NCDEX

Silver Futures Contract (SILVERHEDG)

  • Trades from Monday to Friday.
  • Trading units of 30 kg.
  • Price quotation: Ex-New Delhi.
  • Maximum order size of 1,500 kg.
  • Daily price limit of 4%.
  • Tick size (minimum price movement) of Re. 1 per kg.
  • Upper limit on positions: 100 MT or 5% of market wide open positions for all silver contracts for clients. 1,000 MT or 20% of market wide open positions for a member collectively investing for all clients.
  • Purity grade 999 and fineness 999.
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Top 10 Tax Saver Mutual Funds to invest in India for 2016 or Best 10 ELSS Mutual Funds in india for 2016

1. BNP Paribas Long Term Equity Fund

2. Axis Tax Saver Fund

3. Franklin India TaxShield

4. ICICI Prudential Long Term Equity Fund

5. IDFC Tax Advantage (ELSS) Fund

6. Birla Sun Life Tax Relief 96

7. DSP BlackRock Tax Saver Fund

8. Reliance Tax Saver (ELSS) Fund

9. Religare Tax Plan

10. Birla Sun Life Tax Plan
It must be remembered that this list is not set in stone as improvement or reduction in performance of the mutual fund could change the position of these funds among the top 10 tax saving mutual funds in India.

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