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To trade commodities, the seller has to bring his produce to Nepal Spot Exchange warehouse for its quality checking and weighing. If the produce qualifies as per the contract specifications given by Exchange, the produce is stored in Exchange designated warehouse and the seller has the right to sell his produce by quoting his price in the Exchange terminal. Exchange will provide the storage facility till the commodity is sold as per the price quoted by the seller.
- Trading limits is allowed which may include trading limits with reference to Initial Margin deposit maintained with the Exchange;
- Limit the spread between the quotes for bids and offers with respect to
- Fixation of lots for trading at various levels
- Limits of intra day price variation
- Determine the types of trade permitted for the member to trade and security aspects order driven or quote driven;
- Determine functional details of trading system including the system design, user infrastructure and systems operation;
- Fixing online margin of various types such as regular, mark-to-market, ad-hoc, or additional and fixing limits and rates at which such margins are imposed, collected and administered by the Standing Committee;
- Other matters which may have a bearing on the smooth operation of trading bullion & bullion products may keep in view the balanced interest of the various segments of members and clients.
Since, with the access of the alternative online spot market, the buyer and seller can always compare the prices with other physical market and take their decision to buy or sell. The advantage of online spot exchange is that the buying and selling price of various commodities can be transparent and visible and can be accessed anywhere across the country.
The Exchange shall conduct trading in agricultural and non-agricultural products as permitted by the relevant legislations, subject to such directions as may be prescribed by the appropriate authorities from time to time.
Note:
No change in the names of either members or clients will be entertained during trading after the trades have been confirmed by the Exchange.
- The protected password supplied to the member will be his sole responsibility for its security.
- The member will be solely responsible for all the orders being placed through system using a protected personal password provided to him whether or not the member himself or any other person had placed the orders.
- The member will not hold Exchange or its administration responsible for any loss or damage that might have occurred as a result of system failure, hangover, power breakdown and/or any other event which might have occurred during the functioning of electronic trading; whether during the trading period or thereafter.
- Failure of the system shall not be construed as a reason for not complying with the contractual obligations cast upon the respective members and the responsibilities towards the Exchange
- Exchange shall arrange to download the transactions executed by the members for himself as well as his clients.
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