Polypropylene Futures (PP)

 Trading Unit ( 1 lot)

 5 metric tonnes per contract

 Quality Specification

 General Purpose Fibre (raffia) extrusion grade

Parameter

Test Method

Values

Melt Flow Rate

(g/10Min 230C/2.16 kg)

ISO 1133

2.5-4.0

Tensile Yield Stress

ISO 527

29 Minimum

FDA Status

21CFR 177.1520 (c) 1.1

Compliant

EU Food Contact Status

EU Directive 2002/72/EC and its amendments

Compliant

Dubai World Central or Jebel Ali Free Trade Zone Delivery

Material must be free from contaminants and consistent with industry best practice

Material must be free flowing clean cut pellets suitable for use in both volumetric and gravimetric feeders

Without Additives other than the producer’s standard anti-oxidant and acid neutralizer package

 Trading Months

Up to 12 calendar months at any one time

 Trading Days

Monday through Friday

Last Day of Trading

10th Trading Day of the Delivery Month

 New Contract Listing

First Trading Day after the Last Trading Day

 Trading Hours

7am – 1pm Dubai Time

 Wholesale Trades

EFS, EFP, Block trade facilities available with minimum permitted block size of 50 lots

 Price Quote

USD per MT

 Minimum Tick

USD 1.00

 Minimum Tick Value

USD 5.00

 Calendar Spread

Calendar Spread of Jan-May, May-Sep and Sep-Jan will be available for trading

Delivery Type & Minimum Delivery Unit

Compulsory Delivery. In Multiples of 5 Trading lots on both Buyers and Sellers. Note 1*

 Price Basis

In warehouse (INWH), Duty unpaid at DGCX Approved Warehouse Delivery at Seller’s option

 First Notice Day

1st Trading Day of the Delivery Month

 Delivery Day

Two Business Days after Notice Day

 Daily Price Limit

 No Limit Note 2*

 Margins

 USD250 (subject to change from time to time by the DCCC)

Delivery Period Margin

10 times of the Initial Margin

 Calendar Spread Margin

 100% benefits is offered on calendar spread positions

Delivery Instrument 

Warrant 

Last Notice Day

Last Day of Trading

Delivery Notices

During the Notice Day, Sellers must submit Delivery Notice, indicating:  

  • Clearing Member, Trading Member and Client code
  • The Contract(s) against which delivery is to be made (including the number of lots making up the parcel(s))
  • In respect of each parcel, the Warrant reference, or, as a minimum:

    • the delivery location
    • the details of the lot to be delivered
    • such other information as may be prescribed

Documents 

  • A copy of the producer’s Certificate of Analysis for every production batch making up the lot, duly evidencing that each lot is fully traceable, must accompany every lot delivered into a DGCX Approved Warehouse. The Certificate of Analysis must state the producer, grade, batch number and test results for the batch  
  • A certificate of origin issued by the producer specifying the country of origin of the lot
  • A material safety data sheet issued by the producer containing safety information regarding the handling of the PP

Delivery Tolerance 

  • Weight tolerance of +/-0.8% on standard Delivery Unit of 24.75 tonnes 
  • The net weight and number of torn bags within each lot shall be documented

Packaging

  • Each delivery unit shall consist of 990 x 25 kg bags comprising 18 pallets each carrying 55 such bags stacked symmetrically in 11 layers of 5 bags per layer  
  • Each pallet shall be shrink or stretch wrapped and covered with a plastic hood 
  • All pallets shall be in good condition without protrusions of nails, screws, large splinters or other sharp objects
  • Each bag shall be marked indelibly with the producer’s name, brand, grade and batch number and the net weight of PP within the bag
  • Torn bags shall have been repaired with suitable adhesive tape in a colour that enables such bags to be readily identified. 

Production batches

  • Each Delivery Unit shall consist of no more than 2 production batches 

Polymer age and delivery time

  • PP must have been produced no more than 17 months prior to the Delivery Day and arrived at the Approved Warehouse for no longer than 6 months after production date

Delivery Allocation Information 

Prior to 0600 hrs on the Business Day following the Notice Day(s), the DCCC notifies both Seller and Buyer of their matching, stating the allotted quantities specific grades (and theoretical weights), Settlement Value, Delivery location, and Delivery Day. 

Delivery Prompt

One Business Day after the Notice Day(s); prior to 1200 hrs Dubai time, DGCX prompts Sellers of the necessity to acquire valid Warrant against their positions 

Day Before Delivery Day 

Prior to 1200 hrs, the DCCC can be advised of an ADP

Day of Delivery 

Prior to 1200 hrs on the Delivery Day, Seller transfers warrant for delivery to the designated delivery Account

Provisional Settlement Value

The amount invoiced to the Buyer is basis nominal (Unit: 25 tonnes) 

Pay-in of Funds

i.e. Buyer makes payment

Prior to 1200 hrs on Delivery Day, Buyer makes payment of the Provisional Settlement Value, adjusted to cater for release of Delivery Margin  

Settlement Value 

The amount paid to the Seller based upon the actually delivered quantity

Pay-out of Commodities i.e. Transfer of Title

After 1500 hrs on the Delivery Day, DCCC transfer endorses Warrant in favor of Buyer

Pay-out of Funds

i.e. Seller receives payment

After 1500 hrs, DCCC makes payment to Seller

Delivery Value Adjustment

On the Delivery Day after 1500 hrs any difference between the Provisional Settlement Value and the Settlement Value is reimbursed to the Buyer

 

Note 1*: The delivery will be in multiple of 5 lots. Open positions less than Delivery Units on both sellers and buyers will be financially settled using the Final Settlement Price. Should one side fulfil the minimum Delivery Unit while the counterparty did not meet the minimum Delivery Unit, it will be financially settled using the Final Settlement Price.   

Note 2*: 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 US$50 as compared to the previous closing price. Exchange shall relax the intra-day price range for the prices of the contract approaching the US$50 limit


Mini-Polypropylene Futures

Underlying Polypropylene (PP)    
Contract Symbol DPPMM    
Contract Size 5 tonnes per contract    
Contract Size General Purpose Fibre (Raffia) extrusion graderaffia    
Parameter Test Method Values
Melt Flow Rate
(g/10Min 230C/2.16 kg)
ISO 1133 2.5-4.0
Tensile Yield Stress ISO 527 29 Minimum
FDA Status 21CFR 177.1520 (c) 1.1 Compliant
EU Food Contact Status EU Directive 2002/72/EC and its amendments Compliant
Dubai World Central or Jebel Ali Free Trade Zone Delivery    
Material must be free from contaminants and consistent with industry best practice    
Material must be free flowing clean cut pellets suitable for use in both volumetric and gravimetric feeders    
Without Additives other than the producer’s standard anti-oxidant and acid neutralizer package    
Price Quote USD per tonne    
Minimum Tick Size USD 1.00    
Minimum Tick Value USD 5.00    
Price Basis In warehouse (INWH), duty unpaid at DGCX Approved Warehouse delivery at seller’s option    
Delivery Months Up to 12 calendar months at any time    
Trading Days Monday through Friday    
Trading Hours 0700- 1500hours Dubai Time    
Last Day of Trading Three Trading Days Prior to the Delivery Month    
Wholesale Trades EFS, EFP, Block trade facilities available with minimum permitted block size of 50 lots    
Time Limit for EFP/EFS/Block Trade Registration Up to 15 minutes after cessation of trading on any Trading Day    
New Contract Listing Business Day immediately following the Last Trading Day    
Risk Management
Daily Price Movement Limit No Limit, Note 1*
Initial Margin based on SPAN USD 200 (subject to change from time to time)
Calendar Spread Margin 100% benefit is offered on calendar spread positions
Maximum Open Position Limit As determined by the Exchange from time to time
Maximum Order size 200 Contracts
Delivery
Delivery Type Financial Settlement
Final Settlement Price The Final Settlement Price Methodology shall be derived from the conditions listed below on the underlying 25MT contract:
(a) Value Weighted Average Price (VWAP) of all trades executed in last 10 minutes of the Last Trading Day
(b) If no trades have been executed in the last 10 minutes, the VWAP of last 15 trades executed during the Last Trading Day provided 15 trades are executed
(c) If 15 trades have not occurred, the VWAP of all trades executed during the Last Trading Day
(d) Where there are no trades executed during Last Trading Day, the price midway between outright bids and offers during the last 10 minute period

   


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 US$50 as compared to the Previous Close Price. Exchange shall relax the intra-day price range for the prices of the contract approaching the US$50 limit

WTI Light Sweet Crude Oil Futures Contract Specification – Trading

Symbol DWTI
Underlying Asset DGCX West Texas Intermediate Light Sweet Crude Oil Futures
Contract Size 1,000 barrels (42,000 gallons)
Price Quote US Dollars and Cents per barrel
Tick Size US$ 0.01 per barrel (US$ 10 per tick)
Daily Price Movement Limit No Limit – 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 US$ 3 as compared to the Previous Close Price. Exchange shall relax the intra-day price range for the prices of the contract approaching the US$ 3 limit
Price Basis Cash Only Settlement Contract
Final Cash Settlement Price The front month settlement price for WTI Crude Oil futures as made public by NYMEX for the Last Day of Trading of the DGCX front month contract
Delivery Months Twelve consecutive months plus ten contract months consisting of June and December months will be listed for an additional five calendar years
Trading Day Monday through to Friday
Trading Hours 07:00 – 23:30 Hours Dubai time (GMT+4)
Last Day of Trading

Last Day of Trading shall be the fourth US business day prior to the 25th calendar day of the month that precedes the Delivery Month. If the 25th calendar day is not a US business day; Last Day of Trading shall be the fourth US business day prior to the US business day that precedes the 25th calendar day. If the fourth US business day is not a DGCX Business Day, then the preceding DGCX Business Day shall be the Last Day
of Trading

Cash Settlement Day The Business Day folloing the last day of trading
New Contract Listing Business day immediately following the last trading day
EFP / EFS / Block Trades As per DGCX By-Laws. Minimum Blcok size permitted is 200 contracts.
Time Limit for EFP / EFS /
Block Trade Registration
Up to 15 minutes after cessation of trading on any trading day
Max Open Position Limit No Limits
Max Order Size 500 Contracts

WTI Light Sweet Crude Oil Futures Contract Specification – Margins

Initial Margin US$ 3,100 per contract (subject to change)
Calendar Spread Margin 100% benefit is offered on calendar spread positions.
Extra Margin At times of high volatility, an extra margin, as deemed fit by the Exchange, may be charged.

Brent Crude Oil Futures Contract Specification – Trading

Symbol DBRC
Underlying Asset DGCX Brent Crude Oil Futures
Contract Size 1,000 barrels (42,000 gallons)
Price Quote US Dollars and Cents per barrel
Minimum Tick Size US$ 0.01 per barrel (US$ 10 per tick)
Daily Price Movement Limit No Limit – 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 US$ 3 as compared to the Previous Close Price. Exchange shall relax the intra-day price range for the prices of the contract approaching the US$ 3 limit.
Price Basis Cash Only Settlement Contract
Final Cash Settlement Price The front month settlement price for Brent Crude Oil futures as made public by ICE for the last day of trading of the DGCX front month contract
Delivery Months 12 consecutive months plus 10 contract months consisting of June and December months will be listed for an additional five calendar years
Trading Day Monday through to Friday
Trading Hours 07:00 – 23:30 Hours Dubai time (GMT+4)
Last Day of Trading Last Day of Trading shall be the second UK business day immediately preceding the 15th day prior to the first day of the Delivery Month; if such 15th day is a banking day in London. If the 15th day is a non-banking day in London (including Saturday), trading shall cease on the second UK business day immediately preceding the first UK business day that precedes the 15th day. If the second UK business day is not a DGCX Business Day, then the preceding DGCX Business Day shall be the Last Day of Trading
Cash Settlement Day The Business Day folloing the last day of trading
New Contract Listing Business day immediately following the last trading day
EFP / EFS / Block Trades As per DGCX By-Laws. Minimum Block size permitted is 200 contracts
Time Limit for EFP / EFS /
Block Trade Registration
Up to 15 minutes after cessation of trading on any trading day
Max Open Position Limit No Limits
Max Order Size 500 Contracts

Brent Crude Oil Futures Contract Specification – Margins

Initial Margins US$ 3,500 per contract (subject to change)
Calendar Spread Margin 100% benefit is offered on calendar spread positions.

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

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