Launching a new saffron futures maturity on the commodity exchange
The new maturity of the futures contract for saffron, which will be delivered on September 20, 2009, will be launched on Monday at the Iran Commodity Exchange.
According to the economic correspondent of Tasnim News Agency, according to the announcement of the Production Market Development Management of Iran Commodity Exchange, the futures contract of Saffron Pushfal, delivered on September 20, 2009, will be launched from Monday next week (April 25) and will be tradable until September 16 this year.
According to the announcement, futures contracts will start on the first trading day without price fluctuations, with a pre-opening period of 5 minutes at the beginning of the trading session, and after a single single price auction at 10:30 with a normal trading period and price fluctuations. It continues daily.
It is worth mentioning that the base price of the futures contract will be the same as the price discovered in the single price auction, which will be the basis for the daily price fluctuation threshold for continuing trading in the continuous auction. Obviously, if the deal is not done at a single price auction, the futures contract will be suspended and the same process will be repeated the next business day.