Mini Indian Rupee-Dollar FX Futures Contract Specification- Trading

SymbolDINRM
UnderlyinIndian Rupee
Contract SizeINR 200,000
Delivery MonthsMonthly contracts for twelve months forward
Last Trading DayTwo Business Days prior to the last working day of the contract month
Settlement DayThe Business Day immediately following the last day of expiring contract
New Contract ListingBusiness day immediately following the last trading day
Price QuoteUS Cents (1/100 INR)
Tick SizeUS$ 0.000001 per INR or US$ 2 per tick
Trading DaysMonday through to Friday
Trading Hours07:00 – 23:30 Hours Dubai time (GMT+4)
Maximum Order Size500 lots for Banks and institutions promoted by Banks. All other entities 200 Lots
Daily Price Movement LimitNo price limit
Wholesale TradesEFS, EFP, Block trade facilities available
Final Cash Settlement Price BasisOpen Positions at expiry of contract shall be settled in US Dollars as per the Daily Settlement Price (DSP) declared by the Exchange. The DSP would be based on the official US Dollar reference rate issued by the Reserve Bank of India, based on bank rates in Mumbai at 12 noon on the day of trading or earliest available date

Mini Indian Rupee-Dollar FX Futures Contract Specification– Margins

Initial Margin based on SPAN

$ 70 per contract

Calendar Spread Margin

100% benefit is offered on calendar spread positions

Intra-commodity Margin Offset

100% benefit is offered on offsetting positions between INR and Mini INR positions.

Spread Position Margin

Nil on matched positions

Extra Margin

At times of high volatility, an extra margin, as deemed fit by the Exchange, may be charged


Indian Rupee Futures Contract Specification- Trading

SymbolDINR
Contract SizeINR 2,000,000
Delivery MonthsMonthly contracts for twelve months forward
Last Trading DayTwo Business Days prior to the last working day of the contract month
Settlement DayThe Business Day immediately following the last day of expiring contract
New Contract ListingBusiness day immediately following the last trading day
Price QuoteUS$ quoted in Cents per 100 Indian Rupees ( e.g. 209.56 /209.62 US Cents per 100 Indian Rupees)
Tick SizeUS$ 0.000001 per INR or US$ 2 per tick
Trading DaysMonday through to Friday
Trading Hours07:00 – 23:30 Hours Dubai time (GMT+4)
Maximum Order Size500 lots for Banks and institutions promoted by Banks. All other entities 200 Lots
Price LimitNo Price Limits – Note 1*
Wholesale TradesEFS, EFP, Block trade facilities available
Cash Settlement Price BasisOpen Positions at expiry of contract shall be settled in US Dollars as per the Dialy Settlement Price (DSP) declared by the Exchange.
The DSP would be based on the official US Dollar reference rate issued by the Reserve Bank of India, based on bank rates in Mumbai at 12 noon on the day of trading or earliest available date

Indian Rupee Futures Contract Specification – Margins

Initial Margin based on SPAN

$ 700 per contract

Calendar Spread Margin

100% benefits is offered on calendar spread positions

Spread Position Margin

Nil on matched positions

Extra Margin

At times of high volatility, an extra margin, as deemed fit by the Exchange, may be charged

Delivery Period Margin

Not applicable


India Rupee Quanto futures

SpecificationsParameters
SymbolDINRI
UnderlyingIndian Rupee
Contract Size100 index points
Price QuoteUSD INR Quanto till fourth decimal place (e.g. Bid 63.6800 / Ask 63.6825)
Tick Size0.0025 Index points
Tick Value25 US cents
Wholesale TradesEFS, EFP, Block trade facilities available
Daily Price Movement LimitNo price limit**
Max Order Size2,500 contracts for Banks and institutions promoted by Banks. All other entities 1,000 contracts
Final Cash Settlement Price BasisOpen Positions at expiry of contract shall be settled in US Dollars as per the Final Cash Settlement Price (FCSP) declared by the Exchange.
Such FCSP would be based on the official US Dollar reference rate issued by the Reserve Bank of India, based on bank rates in Mumbai at 12 noon on the day of trading or earliest available date
Trading MonthsFirst 3 consecutive serial months.
Trading DaysMonday through Friday
Trading HoursDGCX Trading Hours
Last Day of TradingTwo Business Days prior tothe last Day of Trading of the Delivery Month
New Contract ListingBusiness Day immediately following the Last Day of Trading
Initial Marginbased on SPANUS $140 per contract (Subject to change from time to time)
Calendar Spread Margin100% benefit is offered on calendar spread positions
Delivery Period MarginNot applicable

Mini INR EUR Futures

Contract SymbolsDINREUR
UnderlyingIndian Rupee (INR)
Contract SizeINR 400,000
Trading CurrencyEuro (EUR)
Settlement CurrencyUS Dollars (USD)
Price QuoteEUR Cents for 100 INR (e.g. 126.75/126.76 EUR Cents per 100 INR)
Minimum Tick Size 0.01 EUR Cents
Tick Value 0.40 EUR
Daily Variation Margin (VM)   paymentFrom Trading Currency to Settlement Currency
Based on Spot Prices available for USD/EUR at the end of DGCX Trading Hours
Final VM paymentFrom Trading Currency to Settlement Currency
Based on the Spot rates calculated from USD and EUR reference rate issued by the Reserve Bank of India (RBI) against INR in Mumbai at 12 noon on the Last Day of Trading or earliest available
Final Cash Settlement Price BasisINREUR reference rate issued by the Reserve Bank of India, in Mumbai at 12 noon on the Last Day of Trading
Wholesale TradesEFS, EFP, Block trade facilities available
Daily Price Movement LimitNo price limit*
Maximum Order Size2500 lots for Banks and Institutions promoted by Banks
All other entities 1000
Trading MonthsFirst 3 consecutive serial months
Trading DaysMonday through Friday
Trading HoursDGCX Trading Hours
Last Trading DayTwo Business Days prior to the last calendar day of the Contract Month except where that day is a bank holiday in either Dubai or Mumbai in which case the Last Day of Trading shall be the preceding Business Day that is not a bank holiday in either Dubai or Mumbai
New Contract ListingBusiness Day immediately following the Last Day of Trading
Initial Margin based on SPANThe Initial Margin will denominated in EUR and the same shall be converted into equivalent USD at the prevalent Spot market rate of USD/EUR to display Initial Margin Utilization in USD terms
Indicative VMIndicative VM on EOS-Clear will be displayed in USD as per the prevalent spot market rate for USD/EUR.
DCCC shall update the spot rates for USD/EUR intraday for at least 3 times at 0600, 1500 and End of DGCX Trading Hours
Calendar Spread Benefit100% benefits is offered on calendar spread positions
Extra MarginAt times of high volatility, an extra margin, as deemed fit by the Exchange, may be charged
Delivery Period MarginNot applicable
Price BandShall be 150 basis points from previous settlement prices for the avoidance of ‘fat finger’ errors.
Spot rateShall be taken from available market data sources like Bloomberg and Reuters.

Mini INR GBP Futures

Contract SymbolsDINRGBP
UnderlyingIndian Rupee (INR)
Contract SizeINR 400,000
Trading CurrencyPound Sterling (GBP)
Settlement CurrencyUS Dollars (USD)
Price QuoteGBP Pence for 100 INR (e.g. 102.01/102.02 GBP Pence per 100 INR)
Minimum Tick Size 0.01 GBP Pence
Tick Value 0.40 GBP
Daily Variation Margin (VM)   paymentFrom Trading Currency to Settlement Currency
Based on Spot Prices available for USD/GBP at the end of DGCX Trading Hours
Final VM paymentFrom Trading Currency to Settlement Currency
Based on the Spot rates calculated from USD and GBP reference rate issued by the Reserve Bank of India (RBI) against INR in Mumbai at 12 noon on the Last Day of Trading or earliest available
Final Cash Settlement Price BasisINRGBP reference rate issued by the Reserve Bank of India, in Mumbai at 12 noon on the Last Day of Trading
Wholesale TradesEFS, EFP, Block trade facilities available
Daily Price Movement LimitNo price limit*
Maximum Order Size2500 lots for Banks and Institutions promoted by Banks
All other entities 1000
Trading MonthsFirst 3 consecutive serial months
Trading DaysMonday through Friday
Trading HoursDGCX Trading Hours
Last Trading DayTwo Business Days prior to the last calendar day of the Contract Month except where that day is a bank holiday in either Dubai or Mumbai in which case the Last Day of Trading shall be the preceding Business Day that is not a bank holiday in either Dubai or Mumbai
New Contract ListingBusiness Day immediately following the Last Day of Trading
Initial Margin based on SPANThe Initial Margin will denominated in GBP and the same shall be converted into equivalent USD at the prevalent Spot market rate of USD/GBP to display Initial Margin Utilization in USD terms
Indicative VMIndicative VM on EOS-Clear will be displayed in USD as per the prevalent spot market rate for USD/GBP.
DCCC shall update the spot rates for USD/GBP intraday for at least 3 times at 0600, 1500 and End of DGCX Trading Hours
Calendar Spread Benefit100% benefits is offered on calendar spread positions
Extra MarginAt times of high volatility, an extra margin, as deemed fit by the Exchange, may be charged
Delivery Period MarginNot applicable
Price BandShall be 150 basis points from previous settlement prices for the avoidance of ‘fat finger’ errors.
Spot rateShall be taken from available market data sources like Bloomberg and Reuters.

Options on Indian Rupee Futures Contract Specification – Trading

Trading SymbolDINRO
Contract SizeOne DGCX Indian Rupee Futures Contract
Price QuotationUS Dollars in Cents per 100 Indian Rupees
Tick SizeUS$ 0.000001 per INR or US$ 2 per tick
Maximum Daily Price FluctuationNo Daily Limit
Style of OptionEuropean
Delivery Months *The nearest three (3) Contract Months
Last Trading DayThe Last Day of Trading for INR Options shall be the Last Day of Trading of the underlying INR Futures Contract
New Contract Listing7 days prior to expiration of the front month Option Contract
Exercise of OptionsOn the Last Day of Trading, all in-the-money options are exercised automatically against the Final Cash Settlement Price of the underlying Indian Rupee Futures Contract, however, should a Member choose not to exercise an in-the-money option, the Member is required to notify the Exchange latest by 23:45 hrs (15 minutes after trading ceases)
All out-of-the-money options automatically expire worthless and will not be exercised
Strike PricesFor each DINRO series, there shall be a Strike Price chain with a strike interval of INR 0.25 converted into US cents equivalent in 2 decimal points
At the outset, DINRO Strike Price chain will be available between INR 40.00 – 50.00 converted into US cents equivalent in 2 decimal points
At all times there will be a minimum of 3 in-the-money, 1 at-the-money and 3 out-of-money strikes available
Once the Daily Settlement Price approaches the lower end or higher end of the chain, additional strikes will be introduced for a minimum INR 5.00 with an interval of INR 0.25 converted into US cents equivalent in 2 decimal points
Position LimitTo be determined by the Exchange
Margin RequirementBuyer pays full premium, while the Seller is margined on SPAN basis
Trading Hours07:00 – 23:30 Hours Dubai time (GMT+4)
Trading DaysMonday through to Friday
* At the outset only 1 (one) Expiry Month will be listed. Additional listing of Expiry Months will be communicated by the Exchange in due course.

Option Settlement Premium

  1. For traded contracts, The Exchange shall determine the Option Settlement Premium based on following order:
    • Value Weighted Average Price (VWAP) of trades executed in last 10 minutes for the trading day provided there were at least 15 trades executed during the last 10 minutes
    • VWAP of last 15 trades executed during the day provided 15 trades are executed
    • The Options Settlement Premium as declared by a Price Committee consisting of Exchange / Clearing Corporation officials
  2. For contracts not traded on a given trading day, Options Settlement Premium will be determined based on theoretical prices

Euro-Dollar FX Futures Contract specification – Trading

SymbolDEUR
Contract Size€ 50,000
Trading MonthsMar, Jun, Sep and Dec
Last Trading Day2 Business days before 3rd Wednesday of Expiry month
Settlement Day3rd Wednesday of Expiry Month
New Contract ListingBusiness day immediately folloing the last trading day
Price QuoteUS$ quoted in Cents per €
Tick SizeUS$ 0.0001 per € or US$ 5 per tick
Trading DaysMonday through to Friday
Trading Hours07:00 – 23:30 Hours Dubai time (GMT+4)
Maximum Order Size500 lots for Banks and institutions promoted by Banks. All other entities 200 Lots
Price LimitNo Price Limits – Note 1*
Wholesale TradesEFS, EFP, Block trade facilities available
Euro-Dollar FX Futures Contract specification – Margins

Initial Margin based on SPAN

US $ 900 per contract (subject to change)

Calendar Spread Margin

100% benefits is offered on calendar spread positions

Spread Position Margin

Nil on matched positions

Extra Margin

At times of high volatility, an extra margin, as deemed fit by the Exchange, may be charged

Delivery Period Margin

Five times the initial Margin


Sterling – Dollar Futures Contract Specification – Trading

SymbolDGBP
Contract Size£ 50,000
Trading MonthsMar, Jun, Sep and Dec
Last Trading DayTwo Business days before third Wednesday of expiry month
Settlement DayThird Wednesday of expiry month
New Contract ListingBusiness day immediately folloing the last trading day
Price QuoteUS$ quoted in Cents per £
Tick SizeUS$ 0.0001 per £ or US$ 5 per tick
Trading DaysMonday through to Friday
Trading Hours07:00 – 23:30 Hours Dubai time (GMT+4)
Maximum Order Size500 lots for Banks and institutions promoted by Banks. All other entities 200 Lots
Price LimitNo Price Limits – Note 1*

Wholesale Trades

EFS, EFP, Block trade facilities available

Sterling – Dollar Futures Contract Specification – Margins

Initial Margin based on SPAN

US $ 900 per contract (subject to change)

Calendar Spread Margin

100% benefits is offered on calendar spread positions

Spread Position Margin

Nil on matched positions

Extra Margin

At times of high volatility, an extra margin, as deemed fit by the Exchange, may be charged

Delivery Period Margin

Five times the initial Margin


Japanese Yen-Dollar FX Futures Contract Specification- Trading

SymbolDJPY
Contract Size¥ 5,000,000
Trading MonthsMar, Jun, Sep and Dec
Last Trading DayTwo Business days before third Wednesday of expiry month
Settlement DayThird Wednesday of Expiry Month
New Contract ListingBusiness day immediately folloing the last trading day
Price QuoteUS$ quoted in Cents per 100 ¥
Tick SizeUS$ 0.000001 per ¥ or US$ 5 per tick
Trading DaysMonday through to Friday
Trading Hours07:00 – 23:30 Hours Dubai time (GMT+4)
Maximum Order Size500 lots for Banks and institutions promoted by Banks. All other entities 200 Lots
Price LimitNo Price Limits – Note 1*

Wholesale Trades

EFS, EFP, Block trade facilities available

Japanese Yen-Dollar FX Futures Contract Specification – Margins

Initial Margin based on SPAN

US $ 1,100 per contract (subject to change)

Calendar Spread Margin

100% benefits is offered on calendar spread positions

Spread Position Margin

Nil on matched positions

Extra Margin

At times of high volatility, an extra margin, as deemed fit by the Exchange, may be charged

Delivery Period Margin

Five times the initial Margin


Australian Dollar -US Dollar FX Futures Contract Specification – Trading

SymbolDAUD
Contract SizeAUD 50,000
Trading MonthsMar, Jun, Sep and Dec
Last Trading DayTwo Business days before third Wednesday of expiry month
Settlement DayThird Wednesday of Expiry Month
New Contract ListingBusiness day immediately folloing the last trading day
Price QuoteUS$ quoted in Cents per AUD
Tick SizeUS$ 0.0001 per AUD or US$ 5 per tick
Trading DaysMonday through to Friday
Trading Hours07:00 – 23:30 Hours Dubai time (GMT+4)
Maximum Order Size500 lots for Banks and institutions promoted by Banks. All other entities 200 Lots
Price LimitNo Price Limits – Note 1*

Wholesale Trades

EFS, EFP, Block trade facilities available
Australian Dollar -US Dollar FX Futures Contract Specification

Initial Margin based on SPAN

US $ 600 per contract (subject to change)

Calendar Spread Margin

100% benefits is offered on calendar spread positions

Spread Position Margin

Nil on matched positions

Extra Margin

At times of high volatility, an extra margin, as deemed fit by the Exchange, may be charged

Delivery Period Margin

Five times the initial Margin


US Dollar Korean Won Futures

Contract SymbolsDUSDKRW
UnderlyingUS Dollar
Contract SizeUSD 50,000
Trading CurrencyKorean Won (KRW)
Settlement CurrencyUS Dollars (USD)
Price QuoteKRW for 1 USD (e.g. KRW 1114.1 / 1114.2 Per 1 USD)
Minimum Tick Size0.1 KRW
Tick Value5000 KRW
Trading DaysMonday through Friday
Trading HoursDGCX Trading Hours
Trading MonthsTwelve Monthly Contracts, at the outset first three serial months Contracts shall be available for trading.
Last Trading DayThe preceding Monday of the third Wednesday of the contract month except where that day is a bank holiday in either Dubai or Seoul, in which case the Last Day of Trading shall be the preceding Business Day that is not a bank holiday in either Dubai or Seoul
New Contract ListingBusiness Day immediately following the Last Day of Trading
Daily Variation Margin (VM) paymentFrom Trading Currency to Settlement Currency

Based on Spot Prices available for USD-KRW at the end of DGCX Trading Hours

Final VM paymentFrom Trading Currency to Settlement Currency

Based on the USD-KRW fixing issued by Korea Financial Telecommunication & Clearing Corporation (KFTCC) determined by Seoul Money Brokerage Service Limited (SMBSL), issued between 9.00 AM and 3.30 PM Seoul Time

Final Cash Settlement Price BasisBased on the USD-KRW fixing issued by KFTCC determined by SMBSL, issued between 9.00 AM and 3.30 PM Seoul Time
Settlement basisCash
Daily Price Movement LimitNo price limit (for the avoidance of ‘fat finger’ errors price band shall be 10 KRW from previous settlement price e.g. if previous settlement price is KRW 1114.1/US$ then the price band is from 1104.1 to 1124.1))
Maximum Order Size500 lots for Banks and Institutions promoted by Banks
All other entities 200 lots
Initial Margin based on SPANThe Initial Margin will be denominated in KRW and the same shall be converted into equivalent USD at the prevalent Spot market rate of USD/KRW to display Initial Margin Utilization in USD terms.

At the outset, Initial Margin shall be KRW 900,000 subject to change.

Indicative VMIndicative VM on EOS-Clear will be displayed in USD as per the prevalent spot market rate for USD/KRW
DCCC shall update the spot rates for USD/KRW intraday for at least 3 times at 0600 hrs, 1500 hrs and End of DGCX Trading Hours
Calendar Spread Benefit100% Calendar Spread benefit
Extra MarginAt times of high volatility, an extra margin, as deemed fit by the DCCC, may be charged
Delivery Period MarginNot applicable
Spot rateShall be taken from available market data sources like Bloomberg and Reuters.

US Dollar Russian Ruble Futures

Contract SymbolsDUSDRUB
UnderlyingUS Dollar
Contract SizeUSD 50,000
Trading CurrencyRussian Ruble (RUB)
Settlement CurrencyUS Dollars (USD)
Price QuoteRUB for 1 USD (e.g. RUB 49.001 / 49.002 Per 1 USD)
Minimum Tick Size 0.001 RUB
Tick Value50 RUB
Trading DaysMonday through Friday
Trading HoursDGCX Trading Hours
Trading MonthsQuarterly Contracts December, March, June, September, at the outset first three Contracts shall be available for trading.
Last Trading Day15th day of the expiry month, except where that day is a bank holiday in either Dubai or Moscow, in which case the Last Day of Trading shall be the following Business Day that is not a bank holiday in either Dubai or Moscow.
New Contract ListingBusiness Day immediately following the Last Day of Trading
Daily Variation Margin (VM) paymentFrom Trading Currency to Settlement Currency

Based on Spot Prices available for USD/RUB at the end of DGCX Trading Hours

Final VM paymentFrom Trading Currency to Settlement Currency

Based on the USD-RUB fixing issued by Moscow Exchange (MOEX) on the last trading day

Final Cash Settlement Price BasisBased on the USD-RUB fixing issued by MOEX on the last trading day
Settlement
Settlement BasisCash
Wholesale TradesEFS, EFP, Block trade facilities available
Daily Price Movement LimitNo price limit (for the avoidance of ‘fat finger’ errors price band shall be 1.00 RUB from previous settlement price e.g. if previous settlement price is RUB 49.001/US$ then the price band is from 48.001 to 50.001)
Maximum Order Size500 lots for Banks and Institutions promoted by Banks
All other entities 200 lots
Initial Margin based on SPANThe Initial Margin will be denominated in RUB and the same shall be converted into equivalent USD at the prevalent Spot market rate of USD/RUB to display Initial Margin Utilization in USD terms.

At the outset, Initial Margin shall be RUB 120,000 subject to change.

Indicative VMIndicative VM on EOS-Clear will be displayed in USD as per the prevalent spot market rate for USD/RUB
DCCC shall update the spot rates for USD/RUB intraday for at least 3 times at 0600 hrs, 1500 hrs and End of DGCX Trading Hours
Calendar Spread Benefit100% Calendar Spread benefit
Extra MarginAt times of high volatility, an extra margin, as deemed fit by the DCCC, may be charged
Delivery Period MarginNot applicable
Spot rateShall be taken from available market data sources like Bloomberg and Reuters.

Canadian Dollar -US Dollar FX Futures Contract Specification – Trading

SymbolDCAD
Contract SizeCAD 50,000
Trading MonthsMar, Jun, Sep and Dec
Last Trading DayBusiness days before third Wednesday of expiry month
Settlement DayThird Wednesday of Expiry Month
New Contract ListingBusiness day immediately folloing the last trading day
Price QuoteUS$ quoted in Cents per CAD
Tick SizeUS$ 0.0001 per CAD or US$ 5 per tick
Trading DaysMonday through to Friday
Trading Hours07:00 – 23:30 Hours Dubai time (GMT+4)
Maximum Order Size500 lots for Banks and institutions promoted by Banks. All other entities 200 Lots
Price LimitNo Price Limits – Note 1*

Wholesale Trades

EFS, EFP, Block trade facilities available
Canadian Dollar -US Dollar FX Futures Contract Specification

Initial Margin based on SPAN

US $ 500 per contract (subject to change)

Calendar Spread Margin

100% benefits is offered on calendar spread positions

Spread Position Margin

Nil on matched positions

Extra Margin

At times of high volatility, an extra margin, as deemed fit by the Exchange, may be charged

Delivery Period Margin

Five times the initial Margin


Swiss Franc -US Dollar FX Futures Contract Specification – Trading

SymbolDCHF
Contract SizeCHF 50,000
Trading MonthsMar, Jun, Sep and Dec
Last Trading DayTwo Business days before third Wednesday of expiry month
Settlement DayThird Wednesday of Expiry Month
New Contract ListingBusiness day immediately folloing the last trading day
Price QuoteUS$ quoted in Cents per CHF
Tick SizeUS$ 0.0001 per CHF or US$ 5 per tick
Trading DaysMonday through to Friday
Trading Hours07:00 – 23:30 Hours Dubai time (GMT+4)
Maximum Order Size500 lots for Banks and institutions promoted by Banks. All other entities 200 Lots
Price LimitNo Price Limits – Note 1*

Wholesale Trades

EFS, EFP, Block trade facilities available
Swiss Franc -US Dollar FX Futures Contract Specification Margins

Initial Margin based on SPAN

US $ 800 per contract (subject to change)

Calendar Spread Margin

100% benefits is offered on calendar spread positions

Spread Position Margin

Nil on matched positions

Extra Margin

At times of high volatility, an extra margin, as deemed fit by the Exchange, may be charged

Delivery Period Margin

Five times the initial Margin

Note 1*: – There will be no limits on intra-day price movements, however to restrict data-entry errors the system will not allow entry of orders having prices higher or lower than 1.5 US cents as compared to the previous day’s settlement price. Exchange shall relax the intra-day price range for the prices of the contract approaching the 1.5 US cents limit.


US Dollar South African Rand Futures

Contract SymbolsDUSDZAR
UnderlyingUS Dollar
Contract SizeUSD 50,000
Trading CurrencySouth African Rand (ZAR)
Settlement CurrencyUS Dollars (USD)
Price QuoteZAR for 1 USD (e.g. ZAR 11.016 / 11.017 Per 1 USD)
Minimum Tick Size 0.001 ZAR
Tick Value50 ZAR
Trading DaysMonday through Friday
Trading HoursDGCX Trading Hours
Trading MonthsTwelve Monthly Contracts, at the outset first three serial months Contracts shall be available for trading.
Last Trading DayThe preceding Monday of the third Wednesday of the contract month except where that day is a bank holiday in either Dubai or Pretoria, in which case the Last Day of Trading shall be the preceding Business Day that is not a bank holiday in either Dubai or Pretoria
New Contract ListingBusiness Day immediately following the Last Day of Trading
Daily Variation Margin (VM) paymentFrom Trading Currency to Settlement Currency

Based on Spot Prices available for USD/ZAR at the end of DGCX Trading Hours

Final VM paymentFrom Trading Currency to Settlement Currency

Based on the USD-ZAR Fixing issued by Reserve Bank of South African on the last trading day

Final Cash Settlement Price BasisBased on the USD-ZAR Fixing issued by Reserve Bank of South Africa on the Last Day of Trading
Wholesale TradesEFS, EFP, Block trade facilities available
SettlementCash
Daily Price Movement LimitNo price limit (for the avoidance of ‘fat finger’ errors price band shall be 0.20 ZAR from previous settlement price e.g. if previous settlement price is ZAR 11.016/ US$ then the price band is from 10.816 to 11.216)
Maximum Order Size500 lots for Banks and Institutions promoted by Banks
All other entities 200 lots
Initial Margin based on SPANThe Initial Margin will be denominated in ZAR and the same shall be converted into equivalent USD at the prevalent Spot market rate of USD/ZAR to display Initial Margin Utilization in USD terms.

At the outset, Initial Margin shall be ZAR 11,000subject to change.

Indicative VMIndicative VM on EOS-Clear will be displayed in USD as per the prevalent spot market rate for USD/ZAR
DCCC shall update the spot rates for USD/ZAR intraday for at least 3 times at 0600 hrs, 1500 hrs and End of DGCX Trading Hours
Calendar Spread Benefit100% Calendar Spread benefit
Extra MarginAt times of high volatility, an extra margin, as deemed fit by the DCCC, may be charged
Delivery Period MarginNot applicable
Spot rateShall be taken from available market data sources like Bloomberg and Reuters.

 

SymbolDUSDCNH
UnderlyingOffshore Chinese Yuan/US Dollar
Contract SizeUSD 50,000
Trading CurrencyChinese Yuan (CNH)
Settlement CurrencyUS Dollars (USD)
Price QuoteCNH for 1 USD (e.g. CNH 6.3680 / 6.3682 Per 1 USD)
Minimum Tick Size0.0002 CNH
Tick ValueCNH 10
Trading DaysMonday to Friday.
Trading Hours07:00 – 23:30 Hours UAE time (GMT+4).
Trading MonthsFirst 12 consecutive serial months
Last Trading DaySecond last business day of the contract month.
New Contract ListingBusiness day immediately following the last day of trading.
Daily Variation Margin (VM) paymentBased on Spot Prices available for USD-CNH at the end of DGCX Trading Hours.
Final Cash Settlement Price BasisOpen Positions at expiry of contract shall be settled in US Dollars as per the Final Cash Settlement Price (FCSP) declared by the Exchange. The Final Cash Settlement Price shall be the Spot USD/CNY (HK) Fixing published by the Treasury Markets Association of Hong Kong at approximately 11.15 Hour Hong Kong time on the Last Trading Day, rounded to the nearest tick size.
Settlement basisCash Settled.
Daily Price Movement LimitNo price limit.
Maximum Order Size500 contracts for Banks and Institutions promoted by Banks.All other entities 200 contracts.
Initial Margin based on SPANThe Initial Margin will be denominated in CNH and the same shall be converted into equivalent USD at the prevalent Spot market rate of USD/CNH to display Initial Margin Utilization in USD terms.
At the outset, Initial Margin shall be CNH 6,500 per contract subject to change from time to time.
Indicative VMIndicative VM on EOS-Clear will be displayed in USD as per the prevalent spot market rate for USD/CNH.DCCC shall update the spot rates for USD/CNH intraday for at least 3 times at 06:00 hrs, 15:00 hrs and end of DGCX Trading Hours.
Calendar Spread Benefit100% Calendar Spread benefit
Delivery Period MarginNot applicable
Spot rateShall be taken from available market data sources like Bloomberg and Reuters.

 

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