Commencement of Futures Trading in Kapas November 2026 Contract
In terms of provisions of the Rules, Bye-Laws and Business Rules of the Exchange, the Members of the Exchange are notified as under:
Kapas Futures contract will be available for trading as follow:
Contract Launch date
Contract Expiry Date
Contract Expiry Month
November 03, 2025
November 30, 2026
November 2026
The contract specification and trading parameters of the above contracts as specified in Annexure herewith, shall be binding on all the Members of the Exchange and constituents trading through them. Further, for applicable margins, members are requested to refer to the circulars issued by Multi Commodity Exchange Clearing Corporation Limited (MCXCCL) from time to time.
The Delivery and Settlement and warehousing procedures is informed separately by MCXCCL.
Trading will be allowed upto 5:00 p.m. on the expiry day of the contract.
Members are requested to take note of the above.
Rohit Lunker
Assistant Vice President- Market Operations
Kindly contact Customer Support on 022 - 6649 4040 or send an email at customersupport@mcxindia.com for any clarification.
Contracts are available as per the Contract Launch Calendar
Contract Start Day
1st day of contract launch month. If 1st day is a holiday then
the following working day.
Last Trading Day
Last calendar day of the contract month. If last calendar day is
a holiday or Saturday then preceding working day
Trading
Trading period
Mondays through Fridays
Trading Session
Monday to Friday: 9.00 a.m. to 9.00 pm
Trading Unit
1 lot (200 maunds of 20 kg each i.e. 4 MT)
Quotation/Base Value
Rs per 20 kg
Price Quote
Ex-Warehouse Rajkot (exclusive of Sales Tax/GST)
Maximum Order Size
50 Lots i.e. 200 MT
Tick Size (Minimum
Price Movement)
50 Paise
Daily Price Limit (DPL)
DPL shall have two slabs - Initial and Enhanced Slab. Once
the initial slab limit of 4% is reached in any contract, then after a period of 15 minutes, this limit shall be increased further by enhanced slab of 2%, only in that contract. The trading shall be permitted during the 15 minutes period within the initial slab limit. After the DPL is enhanced, trades shall be permitted throughout the day within the enhanced total DPL of
6%.
Initial Margin*
Minimum 8% or based on SPAN, whichever is higher
Extreme Loss Margin
Minimum 1%
Additional and/ or Special Margin
In case of additional volatility, an additional margin (on both
buy & sell side) and/ or special margin (on either buy or sell side) at such percentage, as deemed fit; will be imposed in respect of all outstanding positions.
Maximum Allowable Open Position
For individual clients: 1,70,000 MT
For a member collectively for all clients: 17,00,000 MT or 15% of the market wide open position, whichever is higher.
Near Month Limits
For individual clients: 42,500 MT
Near month member level position limit shall be equivalent to the one fourth of the overall member level position limit.
Delivery
Delivery Unit
1 lot (200 maunds of 20 kg each i.e. 4 MT (+/-1% for total
weight of each deliverable lot)
Delivery Period Margin**
Delivery period margins shall be higher of:
3% + 5 day 99% VaR of spot price volatility Or
25%
Delivery Centre (s)
Ex-Warehouse, Rajkot (Gujarat)
MCXCCL designated warehouses upto radius of 100 kms from
Rajkot municipal limits.
Quality Specifications
Raw Cotton
Staple Length
Basis : 29 mm
Tenderable range: 29 mm and above and not deliverable below 29 mm
Outturn
Minimum 34% with no premium above 34% and not Tenderable below 34%.
Trash Content: Maximum 3%
Tenderable Range: Maximum up to 3% with no premium below 3%
Micronaire: Basis: 3.8-4.0 Micronaire Tenderable range of
3.8-4.0 Micronaire with no premium/discount.
Strength:
Basis: Minimum 29 GTex
Tenderable above 29 GTex with no premium or discount. Strength less than 29 GTex is not deliverable on Exchange platform.
Reflectance (Rd value): Deliverable Range: 75-81
Yellowness (+b value): Deliverable Range: 7.5-9.5
Moisture: Max. 8% with no premium below 8%
Due Date Rate (Final Settlement Price)
For contracts where Final Settlement Price (FSP) is determined by polling, unless specifically approved otherwise, the FSP shall be arrived at by taking the simple average of the last polled spot prices of the last three trading days viz.,E0 (expiry day), E-1 and E-2. In the event the spot price for any one or both of E-1 and E-2 is not available, the simple average of the last polled spot price of E0, E1, E-2 and E-3, whichever available, shall be taken as FSP. Thus, the FSP under various scenarios of non-availability of polled spot prices shall be as under:
In case of non-availability of polled spot price on expiry day (E0)/predetermined number of days due to sudden closure
of physical market under any emergency situations noticed,
Scenario
Polled spot price availability on
FSP shall be simple average of last polled spot prices on:
E0
E-1
E-2
E-3
1
Yes
Yes
Yes
Yes/No
E0, E-1, E-2
2
Yes
Yes
No
Yes
E0, E-1, E-3
3
Yes
No
Yes
Yes
E0, E-2, E-3
4
Yes
No
No
Yes
E0, E-3
5
Yes
Yes
No
No
E0, E-1
6
Yes
No
Yes
No
E0, E-2
7
Yes
No
No
No
E0
Clearing Corporation shall decide further course of action for determining FSP and which shall be in accordance with MCXCCL circular no. MCXCCL/SPOT/077/2020 dated April 13, 2020.
On the day of expiry the trading shall be allowed up to 5pm.
Delivery Logic
Both option
* A) The Margin Period of Risk (MPOR) shall be in accordance with SEBI Circular no. SEBI/HO/CDMRD/DRMP/CIR/P/2020/15 dated January 27, 2020. For applicable minimum MPOR, refer latest circulars issued by MCXCCL from time to time.
B) For all the applicable margins, refer the latest circulars issued by the Exchange or Multi Commodity Exchange Clearing Corporation Limited (MCXCCL) from time to time.
** Delivery Period Margin-As per SEBI directive SEBI/HO/CDMRD/DRMP/CIR/P/2016/77 dated September 01, 2016
Contract Launch Calendar for Kapas Futures contracts
Contract Launch Months
Contract Expiry Months
November 2025
November 2026
February 2026
February 2027
April 2026
April 2027
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Disclaimer
MCX - Multi Commodity Exchange of India Ltd. published this content on October 27, 2025, and is solely responsible for the information contained herein. Distributed via Public Technologies (PUBT), unedited and unaltered, on October 28, 2025 at 04:27 UTC.
Multi Commodity Exchange of India Limited is a commodity derivatives exchange. The Company facilitates online trading of commodity futures and options, data feed subscription and membership. It offers a platform for trading in varied commodity derivative contracts across product segments: bullion, base metals, energy, agricultural commodities and index futures. Its flagship index series, MCX iCOMDEX, is a series of real-time commodity futures price indices, which give information on market movements in key segments traded on the exchange. The MCX iCOMDEX series consists of a composite index, apart from two sectoral indices, such as the Base Metal index, and the Bullion index and four single-commodity indices, such as Gold, Silver, Copper, and Crude Oil. Its subsidiary, Multi Commodity Exchange Clearing Corporation Ltd, provides collateral management and risk management services, along with clearing and settlement of trades executed on the exchange.
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