MINR – USD Futures
Dubai is known as the city of gold. Some of the traditional issues for the Gold market here in Dubai are price discovery and basis risk management. The introduction of a spot gold contract on DGCX will create significant value to the physical market participants, enabling them to manage their risk appetite and facilitate a combination of strategies that can be deployed on both futures and spot platform to provide the desired yield.
One of the key benefits the DGCX Spot Gold Contract provides for the bullion trading industry is facilitating netting benefits on a single platform. Participants across the spectrum have better counterparty risk management tools and this provides a platform to gold investors to derive another revenue stream for their investments. Once launched and established, the DGCX spot Gold contract will attract participants from overseas and locally due to availability of a regionally relevant price benchmark.
- Contract size of 32 troy ounces in line with industry standards.
- USD denominated, regulated Gold spot contract on an established platform
- Tick size of USD 0.10 per Troy Ounce
- Option to take delivery or roll-over to the next day
- Robust risk management controls including delivery limits and Span based margining
- Participate in gold trade in one of the largest bullion trading hubs in the world
- Transparent price discovery in gold in Dubai
- Take out the basis risk from gold trading in Dubai
- Accept reputable gold brands for delivery
- Available on robust trading and clearing platform subscribing to global best practices and standards
- Physical traders get automatically netted off against their physical exposure on DGCX
Contract Specifications Parameters Contract Symbol DINRM Underlying Indian Rupee Contract Size INR 200,000 Notional Contract Value INR 200,000 Trading Currency US Dollar Settlement Currency US Dollar Price Quote US Cents (1/100 INR) Tick Size US$ 0.000001 per INR or US$ 0.2 per tick Tick Value US$ 0.2 Settlement Basis Open Positions at expiry of contract shall be settled in US Dollars as per the Final Settlement Price (FSP) declared by the Exchange. Final Cash Settlement Price The FSP 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 Last Day of Trading Two Business Days prior to the last working day of the contract month Trading Days Monday through to Friday Trading Hours 07:00 - 23:55 Hours Dubai time (GMT+4) Trading Months Every Month New Contract Listing Business day immediately following the last trading day Max Order Size 500 lots for Banks and institutions promoted by Banks. All other entities 200 Lots Daily Price Movement Limit No price limit (Note 1*) Initial Margin based on SPAN Click on the "Initial Margin" TAB Calendar Spread Margin 100% benefit is offered on calendar spread positions Note 1*: For the avoidance of "fat finger" errors, price band shall be 1.5 US Cents from previous settlement price If price breaches the daily price movement limit, trading in particular contract shall continue, with the new trading price range without any cooling period
Expiry Month Expiry Code Last Trading Day Oct'18 DINRM-20181029 29 Oct 2018 Nov'18 DINRM-20181128 28 Nov 2018 Dec'18 DINRM-20181227 27 Dec 2018 Jan'19 DINRM-20190129 29 Jan 2019 Feb'19 DINRM-20190226 26 Feb 2019 Mar'19 DINRM-20190327 27 Mar 2019 Apr'19 DINRM-20190426 26 Apr 2019 May'19 DINRM-20190529 29 May 2019 Jun'19 DINRM-20190626 26 Jun 2019 Jul'19 DINRM-20190729 29 Jul 2019 Aug'19 DINRM-20190828 28 Aug 2019 Sep'19 DINRM-20190926 26 Sep 2019