USD – South African Rand Futures
South African Rand – United States (USD-ZAR) dollar futures contract is a part of the key initiative of the exchange to give access to currencies that are relevant to the region as well as be a one stop shop for emerging market currencies.
The USD-ZAR contract is relevant to the region as South Africa is one of the largest trade partner of UAE especially for the Diamond and Gold trade in the UAE. Many South African mining companies have large presence in UAE.
- USD-ZAR is accessible from 7.00 AM- 11.55 PM UAE time
- Small contract size $50,000 suitable for traders and organizations with smaller exposures
- One of the only regulated platforms offering USD-ZAR Futures in GCC
- UAE is a Tax Free jurisdiction ensuring no tax liability arising out of accrued profit
- Overlaps most trading zones including Europe and United States hence any news effecting the ZAR markets lies within the time zone
- Ideal location for corporate organizations with exposure to hedge ZAR as onshore ZAR liquidity availability is difficult
Contract Parameters Contract Type Future Contract Name ZAR/US Dollar Contract Symbol DUSDZAR Underlying South African Rand Contract Size USD 50,000 Notional Contract Value USD 50,000 Trading Currency ZAR Settlement Currency USD Price Quote ZAR per USD Tick Size ZAR 0.001 Tick Value ZAR 50 Settlement Basis Cash Settled Final Cash Settlement Price (FCSP) FCSP is based on the official USD-ZAR fixing published by the Reserve Bank of South Africa on Last Trading Day Last Trading Day (LTD) Two Business Days prior to the third Wednesday of the expiry month Trading Days Exchange Business Days* Trading Hours 07:00 – 23:55 Hours Dubai time Trading Months Monthly for 3 months forward New Contract Listing Business Day immediately following the Last Trading Day Max Order Size 200 Lots Wholesale Trades Block Trade minimum size threshold: 50 lots. EFP/EFS also available. Trades must be submitted 15 minutes after execution No Cancellation Range See link: www.dgcx.ae/price-limits
Expiry Month Expiry Code Last Trading Day Oct'18 DUSDZAR-20181015 15-Oct-18 Nov'18 DUSDZAR-20181119 19-Nov-18 Dec'18 DUSDZAR-20181214 14-Dec-18