Description

NSE introduces Gold 10 grams Futures contracts in the Commodity Derivatives segment with effect from March 16, 2026, following SEBI approval. Contract specifications and launch calendar have been notified.

Summary

NSE has received SEBI approval and is introducing Gold 10 grams Futures contracts in its Commodity Derivatives segment effective March 16, 2026. The circular provides detailed contract specifications and a launch calendar for members.

Key Points

  • Gold 10 grams Futures (symbol: GOLD10G) will commence trading from March 16, 2026
  • Product symbol format: GOLD10GYYMMM; instrument type: Futures contract (FUTBLN)
  • Trading unit and quotation base value: 10 grams
  • Price quoted Ex-Ahmedabad, inclusive of import duty and customs but excluding GST
  • Maximum order size: 10 kg
  • Tick size: Re. 1 per 10 grams
  • Trading hours: Monday–Friday, 9:00 am to 11:30/11:55 pm (based on US daylight saving time)
  • Monthly contracts; last trading day is the last calendar day of expiry month (or preceding working day if holiday)
  • Contract commencement day: business day immediately following the last trading day (Expiry Day + 1)
  • Risk management, clearing, and settlement details to be intimated separately by NSE Clearing Ltd.

Regulatory Changes

  • New Gold 10 grams Futures product introduced under SEBI approval in the Commodity Derivatives segment
  • Daily price limit set at 6%; relaxed to 9% after a 15-minute cooling-off period if breached
  • Further relaxation in steps of 3% beyond 9% if international market movement exceeds maximum daily price limit
  • In exceptional circumstances with extreme international price movement, daily price limit may be relaxed directly to the required level

Compliance Requirements

  • All NSE members intending to trade Gold 10 grams Futures must adhere to the specified contract specifications
  • Maximum allowable open position for a member (all clients combined): 50 MT or 20% of market-wide open position, whichever is higher, across all Gold contracts combined
  • Maximum allowable open position for an individual client: 5 MT or 5% of market-wide open position, whichever is higher, across all Gold contracts combined
  • Initial margin: minimum based on volatility category or SPAN, whichever is higher
  • Extreme loss margin: 1%
  • Additional and/or special margin may be imposed during additional volatility on buy and/or sell positions

Important Dates

  • February 20, 2026: Circular issued
  • March 16, 2026: Gold 10 grams Futures contracts available for trading (effective date)
  • Monthly contract expiry: Last calendar day of expiry month (or preceding working day if holiday)

Impact Assessment

The introduction of Gold 10 grams Futures provides a smaller-denomination gold futures contract compared to standard offerings, potentially improving accessibility for retail participants and smaller traders in the commodity derivatives market. The new contract expands NSE’s commodity product suite and aligns with broader market development goals. Members dealing in commodity derivatives should update their systems and risk frameworks to accommodate the new contract. Clearing and settlement specifics will follow from NSE Clearing Ltd., so members should monitor for that subsequent circular.

Impact Justification

New product launch expanding commodity derivatives offerings with SEBI approval; impacts commodity traders and members dealing in gold futures but limited to a specific niche segment.