MSCI INDIA Futures (INR)

  • The index is based on the MSCI Global Investable Indexes (GIMI) Methodology—a comprehensive and consistent approach to index construction that allows for meaningful global views and cross regional comparisons across all market capitalization size, sector and style segments and combinations. This methodology aims to provide exhaustive coverage of the relevant investment opportunity set with a strong emphasis on index liquidity, investability and replicability.

    The index is reviewed quarterly—in February, May, August and November—with the objective of reflecting change in the underlying equity markets in a timely manner, while limiting undue index turnover. During the May and November semi-annual index reviews, the index is rebalanced and the large and mid capitalization cutoff points are recalculated.

    Contract Features
    • Broad India market exposure with a single trade
    • US $ denominated; cash settled
    • Tax Free- No STT, Zero Capital Gains tax
    • Trade India outside India market hours
    • Efficient margining for optimal leverage
    • Competitive Transaction costs
    • Block Trade facility available
    Contract Uses
    • Hedge your Indian equity portfolio
    • Replicate your macro India view offshore
    • Trade Volatility of Indian stocks
    • Trade Calendar spreads
    • Profit from price anomalies of highly correlated contracts
  • ContractParameters
    Contract Symbol DMSI
    Underlying MSCI INDIA (INR, PRICE) INDEX
    Contract Size 25
    Notional Contract Value (Price * Contract Size) in USD
    Trading Currency USD
    Settlement Currency USD
    Price Quote Underlying price expressed in USD ((example: Bid: 1068.B850 / Ask 1069.50)
    Tick Size 0.5
    Tick Value USD 12.5
    Settlement Basis Cash Settled
    Final Cash Settlement Price Based on the closing price of the MSCI (INR, PRICE) index as published by MSCI Inc. on the Last Day of Trading rounded off to the nearest tick
    Last Day of Trading* Last Thursday of the Calendar Month
    Trading Days Monday through Friday
    Trading Hours 07:00 - 23:55 Hours Dubai time (GMT+4)
    Trading Months Three consecutive serial months, 1 quarterly month and 1 calendar spread between first month and second month.
    New Contract Listing Business Day immediately following the Last Trading Day
    Max Order Size 200 Lots
    Initial Margin based on SPAN (Based on SPAN, subject to change from time to time)
    Calendar Spread Margin 100% benefit is offered on calendar spread positions
    Daily Price Movement limit No Limit** See Note 2
    Note1*: On the last trading day the expiring contract will be disabled from trading at 14:00 Hours Dubai time (GMT +4)
    Note 2**: For the avoidance of ‘fat finger’ errors price band shall be 25 points from previous settlement price e.g. if previous settlement price is 1070, the price band is from 1045.00 to 1095.00. Exchange shall relax the intra-day price range for the prices of the contract approaching near 500 point