NCDEX to relaunch rubber contract tomorrow

National Commodity and Derivatives Exchange today said it has received the approval of Forward Markets Commission (FMC) to launch its modified rubber contract on Saturday.

The exchange has changed the basis centre for the contract to Kochi from Kottayam, with Thrissur, Calicut, and Manjeri as additional delivery centres.

"The basis centre was shifted to Kochi on requests from traders and exporters, as the place is hub of rubber trade," said Sindhu Ravishankar, product manager-rubber, NCDEX.

The exchange has also modified the expiry date to 25th of every month from 20th at present.

Currently, rubber futures have good liquidity only on the NCDEX, where they expire on the 15th of every month.

"Our modified expiry date will enable traders operating on both exchanges to leverage on financial resources, facilitating smooth rollover of funds due to bigger gap between expiry dates on both exchanges," Ravishankar said.

NCDEX has closed trading in November, December, January, and February contracts on Wednesday and will launch modified contracts for December, January, and February on Saturday.