SYMBOL

OLEINTR

DESCRIPTION

OLEINTR MMMYY

TRADING 

Price Quote

Quoted in Indonesia Rupiah per kilogram (exclusive Value Added Tax) 

Contract Size

10 Metric Ton (1 Lot)

Tick Size

Rp. 5 per Kilogram (Rp. 50,000 per Lot) and multiple thereof.

Trading Months

First 12 consecutive months 

Trading Period

Monday - Friday

Trading Hours

09:30 AM – 17:00 PM Jakarta Time 

Last Trading Day

17:00 PM on the fifteenth (15th) calendar day of the spot contract month or if the fifteenth (15th) calendar day is not a Trading Day, then the Trading Day immediately preceding the fifteenth (15th) calendar day.

Daily Settlement Price

The Daily Settlement Price for each open contract will be determined by the simple average of Ex-Tank RBD Palm Olein prices (omitting the highest and lowest prices) of each respective contract month, and market fundamentals.

Final Settlement Price

Average of Daily Settlement Price from 5 (five) days to Last Trading Day Settlement Price.

Daily Price Limit

± 10% from previous Daily Settlement Price with 15 minutes Cooling Off Period to be followed with an expanded maximum limit of 15% above or below the settlement prices of the previous Daily Settlement Price of the relevant contract month.

Position Limit

1,000 Lot for combination of all Trading Months

300 Lot for 1 (one)  Trading Month

MARGIN

Initial Margin

10%

Variation Margin

In case of additional volatility, a special margin of such other percentage, as deemed fit by the Exchange, will be imposed immediately in respect of all outstanding position.

PHYSICAL DELIVERY

Delivery Points

1.       Jakarta

2.       Surabaya

3.       Semarang

Delivery Specification

5 (five) days prior to the expiry date of Contract, seller has the option to send the Physical Delivery Notification Form to the Clearing House.

Minimum Deliverable Unit

2 lot (20 Metric Ton) or for every accumulation.

Quantity Difference

+/- 2%

Delivery Price Quotation

The RBD Palm Olein price in the Physical Delivery Market shall be in Indonesia Rupiah Seller’s Ex-Tank at Designated Ports inclusive of Value Added Tax (VAT).

Spot Month Margin

30%

Deliverable Quality

1.    Free Fatty Acid maximum 0.1% (based on sample tank);

2.    Moisture and Impurities maximum 0,1%;

3.    Iodine Value (Wijs) minimum 56;

4.    Melting Point maximum 24⁰C;

5.    Color (5 ¼” Lovibond Cell) maximum 4 Merah.

Delivery Ports

1.       Jakarta;

2.       Semarang;

3.       Surabaya.

Delivery Terms

In accordance with the trading terms, Buyers are required to take the Physical RBD Palm Olein from Seller’s tank maximum of 15 (fifteen) calendar days. 

Payment Terms

Buyer pays contract value in cash within T+2 from trading date.

Seller receives payment at the latest 15 (fifteen) calendar days after Buyer receives RBD Palm Olein.

Compensation for Late Delivery of RBD Palm Olein By Seller 

Day 1 - 1.0% of Deliverable Quantity Value or difference of the Delivery Contract Value with the quantity has been received.

Day 2 - 1.0% of Deliverable Quantity Value or difference of the Delivery Contract Value with the quantity has been received (cumulative from Day-1 of delay).

Day 3 - Delivery Default. Penalty applies.

Penalty for Delivery Default 

10% of Deliverable Quantity Value or difference of the Delivery Contract Value with the quantity has been received, that is fully paid to the Clearing House for the purpose of the Clearing House responsibility to party at loss (cumulative from Day-1 of delay).
In addition to the Penalty above, all costs and expenses incurred by Clearing House in making good the contract of the defaulting party shall be fully borne by the defaulting party.

Closing of Futures Contract

At the expiry date of Futures Contract, all position which is not involved with the Physical Delivery of RBD Palm Olein must be closed with Final Settlement Price that will be announced later by the Exchange.