It is the rate at which the futures contract is settled on the expiry date. Usually it is the average of the spot prices of the last few trading days (as specified in the contract specification) before the contract maturity.

Spot market is the market in which, commodities are physically bought or sold usually on a negotiable basis, and normally result in immediate delivery.

No

Yes.
Members can cancel the orders in order cancellation session (special session) before normal trading hours. Timing for special session is from 8.45 AM to 8.59 AM, during Monday’s to Friday’s. The special session will allow Members to cancel their pending orders.

i. What is LTP Based Calendar Spread Trading Facility?

The LTP based calendar spread trading facility is available in combinations of 2 underlying futures contracts- Near month and Far month contract. A spread order once executed results into
trades of near month and far month futures contract. While there would be a separate order book, matched orders would result into trades in the respective futures contracts. In respect of
the near month futures contract, the trade is generated at near month contract’s Last Traded Price while in the far month contract, trade is generated at ‘near month contract’s Last Traded
Price + Spread Price’.

ii. In what Combination of expiries is calendar spread trading facility available for commodities?

The calendar spread trading facility is available for the following combination of expiry months of the same commodity:
i. Near Month and Second available Month
ii. Near Month and Third available Month
iii. Second available Month and Third available Month

iii. How does one enter orders for LTP Based Calendar Spread Trading Facility?

In the Trader Work Station, Members have to select the symbols while placing the orders as per the combinations of the different expiry months made available. The Symbol will be of
maximum 10 characters which will be combination of the following:
i. First Three characters will represent commodity symbol
ii. Next Three (Fourth to Sixth) characters will represent the near month
iii. Next Two (Seventh and Eighth) character will represent the far month
iv. Last Two characters will be the year of the far month contracts
v. For a given combination of symbols, trading facility will be available till the date of expiry of
the near month. 7
iv. What is the meaning of buying spread/selling spread in LTP Based Calendar Spread Trading Facility?

Buying spread implies selling near month futures contract and buying far month futures contract. Similarly, Selling spread means buying near month futures contract and selling far month
futures contract.
v. How do I quote prices for LTP Based Calendar Spread Trading Facility?

The price of a spread order is quoted as the difference between the prices at which the near month and far month contracts will be traded. The spread price may be positive, negative or zero.

vi. My order has been executed in LTP based calendar spread contract and the price at which the order is executed is higher than today’s high price in the respective contract. Is
there any error in display of high price of that respective contract in today’s bhav copy?

No. there is no error in reflection of high price for the contract. The trades generated on account of LTP based calendar spread trading facility shall not be considered
for the day’s open /high / low / close price computation of the respective near month and far month futures contract

Spread Immediate or Cancel (IOC) order Entry window facilitates the user to enter Buy and Sell orders simultaneously in two different maturity contracts of same underlying. Placing a spread IOC order means placing a Buy or Sell order in Leg 1 contract and sell or Buy order in Leg 2 contract with common Order quantity, Spread IOC Order price, Client details and Regular Lot order type with IOC validity.

Orders are matched on price-time priority basis. Best buy order matches with the best sell order. The best buy order is the one with the highest price and the best sell order is the one with the lowest price.

Time priority on order modification will not change for an order due to decrease in its quantity or decrease in disclosed quantity, otherwise the time priority of the order will change

i. What is a Stop Loss buy order?
Buy Stop loss order is an order which will be activated in the market when the LTP of the contract matches or exceeds the trigger price specified by the user. Stop loss buy orders are
placed at or above the current market price

ii. What is a Stop Loss sell order?
A Sell Stop loss order is an order which will be activated in the market when the LTP of the contract matches or falls below the trigger price specified by the user. Stop loss sell orders
are placed at or below the current market price.

iii. What is trigger price?
A trigger price is specified by the user to allow the system to activate the stop loss order once the last traded price breaches the trigger price.

iv. What is Stop Loss limit order?
A stop-limit order will be executed at a specified or better price, after a given trigger price has been hit. Once the trigger price is hit, the stop loss-limit order becomes a limit
order to buy or sell at the limit or better price.

v. Can a Stop Loss order be modified to a regular order and vice-versa?
A stop loss order can be modified to a regular order but, a regular order cannot be modified to a stop loss order.

Combination Order refers to 2 Leg and 3 Leg orders. ‘Combination Order’ allows the user to enter 2 or 3 IOC orders simultaneously in two or three different contracts of the same or different underlying with the purpose that the entered multiple orders get matched either fully or partly but in Order Quantity proportion in which these contracts are entered in Combination Order entry.

The fully or partly unmatched Combination orders get cancelled immediately. Each combination order gets converted into 2 or 3 normal orders depending upon the legs entered. All the Leg1, Leg2 and Leg3 orders shall have different order numbers and a Common Distinct Reference Number for each leg to identify that these orders have been generated through a Combination Order. Each leg contract must be a different contract.