What are the contract specifications and trading parameters of CNXIT Futures ?
The underlying security of S &P CNX IT Futures contract is the Index S &P CNX IT. These contracts can have a trading cycle of maximum 3 months- the near month (one), the next month (two) and the far month (three). With the expiration of near month contract on the last Thursday of each month, a fresh contract is introduced on the very next day. The contract will expire on the previous trading day if last Thursday of the month is a trading holiday. The minimum value of a CNX IT Future contract is Rs2, 00,000. Tick size of CNX IT Futures is Re0.05. On the day of introduction of future contract, Base price of S&P CNX IT futures contract would be the previous day’s closing CNX IT index value, which is the theoretical future price. In the following days daily settlement price of the futures contracts is its base price.
