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 SpecificationsParameters
    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 MonthExpiry CodeLast 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