Currency Futures

Currency

The primary reason the Forex market exists is to facilitate the exchange of one currency into another for multinational corporations that need to trade currencies continually (for example, for payroll, payment for costs of goods and services from foreign vendors, and merger and acquisition activity). However, these day-to-day corporate needs comprise only about 20% of the market volume. Fully 80% of trades in the currency market are speculative in nature, put on by large financial institutions, multibillion dollar hedge funds and even individuals who want to express their opinions on the economic and geopolitical events of the day.

DGCX offers a vibrant currency portfolio which doesnm only list USD against GBP, EURO, CHF, AUD, JPY, and CAD but also includes Indian Rupee, Russian Ruble, Korean Won and South African Rand. Moreover DGCX has started cross currencies like Indian Rupee vs Euro, Indian Rupee vs GBP.

Indian Rupee futures contract was the first of its kind in the world when it launched in 2007. Today, it remains the most successful contract tradable on DGCX and is available to international participants. The contract is cash settled based on US Dollar reference rate published by the Reserve Bank of India, providing alignment with the domestic rate.

Product Specification

Mini Indian Rupee-Dollar FX Futures Contract Specification

Trading

Symbol DINRM
Underlyin Indian Rupee
Contract Size INR 2,000,000
Delivery燤onths Monthly contracts for twelve months forward
Last Trading Day Two燘usiness Days prior to the last working day of the contract month
Settlement Day The Business Day immediately following the last day of爀xpiring contract
New Contract Listing Business day immediately following the last trading day
Price Quote US Cents (1/100 INR)
Tick Size US$ 0.000001 per INR or US$ 0.2 per tick
Trading Days Monday through to燜riday
Trading Hours 07:00 - 23:30 Hours Dubai time (GMT+4)
Maximum Order Size 500 lots for Banks and institutions promoted by Banks. All other entities 200 Lots
Daily Price Movement Limit No Price Limit
Wholesale Trades EFS, EFP, Block trade facilities available
Final Cash Settlement Price Basis Open Positions at expiry of contract shall be settled in US Dollars as per the Daily Settlement Price (DSP) declared by the Exchange. The DSP 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
Indian Rupee Futures Contract Specification

Trading

Symbol DINR
Contract Size INR 2,000,000
Delivery燤onths Monthly contracts for twelve months forward
Last Trading Day Two燘usiness Days prior to the last working day of the contract month
Settlement Day The Business Day immediately following the last day of爀xpiring contract
New Contract Listing Business day immediately following the last trading day
Price Quote US$ quoted in Cents per 100 Indian Rupees ( e.g. 209.56 /209.62 US Cents per 100 Indian Rupees)
Tick Size US$ 0.000001 per INR or US$ 2 per tick
Trading Days Monday through to燜riday
Trading Hours 07:00 - 23:30 Hours Dubai time (GMT+4)
Maximum Order Size 500 lots for Banks and institutions promoted by Banks. All other entities 200 Lots
Price Limit No Price Limits - Note 1*
Wholesale Trades EFS, EFP, Block trade facilities available
Cash Settlement Price Basis Open Positions at expiry of contract shall be settled in US Dollars as per the Dialy Settlement Price (DSP) declared by the Exchange.
The DSP 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
Euro-Dollar FX Futures Contract specification

Trading

Symbol DEUR
Contract Size 50,000
Trading Months Mar, Jun, Sep and Dec
Last Trading Day 2 Business days before 3rd Wednesday of Expiry month
Settlement Day 3rd Wednesday of Expiry Month
New Contract Listing Business day immediately following the last trading day
Price Quote US$ quoted in Cents per
Tick Size US$ 0.0001 per or US$ 5 per tick
Trading Days Monday through to燜riday
Trading Hours 07:00 - 23:30 Hours Dubai time (GMT+4)
Maximum Order Size 500 lots for Banks and institutions promoted by Banks. All other entities 200 Lots
Price Limit No Price Limits - Note 1*�
Wholesale Trades EFS, EFP, Block trade facilities available
Australian Dollar -US Dollar FX Futures Contract Specification

Trading

Symbol DAUD
Contract Size AUD 50,000
Trading燤onths Mar, Jun, Sep and Dec
Last Trading Day Two Business days before third Wednesday of expiry month
Settlement Day Third Wednesday of Expiry Month
New Contract Listing Business day immediately following the last trading day
Price Quote US$ quoted in Cents per AUD
Tick Size US$ 0.0001 per AUD or US$ 5 per tick
Trading Days Monday through to Friday
Trading Hours 07:00 - 23:30 Hours Dubai time (GMT+4)
Maximum Order Size 500 lots for Banks and institutions promoted by Banks. All other entities 200 Lots
Price Limit No Price Limit
Wholesale Trades EFS, EFP, Block trade facilities available
Canadian Dollar -US Dollar FX Futures Contract Specification

Trading

Symbol DCAD
Contract Size CAD 50,000
Trading燤onths Mar, Jun, Sep and Dec
Last Trading Day Business days before third Wednesday of expiry month
Settlement Day Third Wednesday of Expiry Month
New Contract Listing Business day immediately following the last trading day
Price Quote US$ quoted in Cents per CAD
Tick Size US$ 0.0001 per CAD or US$ 5 per tick
Trading Days Monday through to燜riday
Trading Hours 07:00 - 23:30 Hours Dubai time (GMT+4)
Maximum Order Size 500 lots for Banks and institutions promoted by Banks. All other entities 200 Lots
Price Limit No Price Limit
Wholesale Trades EFS, EFP, Block trade facilities available
Swiss Franc -US Dollar FX Futures Contract Specification

Trading

Symbol DCHF
Contract Size CHF 50,000
Trading燤onths Mar, Jun, Sep and Dec
Last Trading Day Two Business days before third Wednesday of expiry month
Settlement Day Third Wednesday of Expiry Month
New Contract Listing Business day immediately folloing the last trading day
Price Quote US$ quoted in Cents per CHF
Tick Size US$ 0.0001 per CHF or US$ 5 per tick
Trading Days Monday through to燜riday
Trading Hours 07:00 - 23:30 Hours Dubai time (GMT+4)
Maximum Order Size 500 lots for Banks and institutions promoted by Banks. All other entities 200 Lots
Price Limit No Price Limit
Wholesale Trades EFS, EFP, Block trade facilities available
Sterling - Dollar Futures Contract Specification

Trading

Symbol DGBP
Contract Size � 50,000
Trading Months Mar, Jun, Sep and Dec
Last Trading Day Two燘usiness days before third Wednesday of expiry month
Settlement Day Third Wednesday of expiry month
New Contract Listing Business day immediately following the last trading day
Price Quote US$ quoted in Cents per �
Tick Size US$ 0.0001 per � or US$ 5 per tick
Trading Days Monday through to燜riday
Trading Hours 07:00 - 23:30 Hours Dubai time (GMT+4)
Maximum Order Size 500 lots for Banks and institutions promoted by Banks. All other entities 200 Lots
Price Limit No Price Limits - Note 1*

Wholesale Trades

EFS, EFP, Block trade facilities available
Japanese Yen-Dollar FX Futures Contract Specification

Trading

Symbol DJPY
Contract Size � 5,000,000
Trading Months Mar, Jun, Sep and Dec
Last Trading Day Two燘usiness days before third Wednesday of expiry month
Settlement Day Third Wednesday of Expiry Month
New Contract Listing Business day immediately following the last trading day
Price Quote US$ quoted in Cents per 100 �
Tick Size US$ 0.000001 per � or US$ 5 per tick
Trading Days Monday through to燜riday
Trading Hours 07:00 - 23:30 Hours Dubai time (GMT+4)
Maximum Order Size 500 lots for Banks and institutions promoted by Banks. All other entities 200 Lots
Price Limit No Price Limits - Note 1*

Wholesale Trades

EFS, EFP, Block trade facilities available
Russian Rubal Futures Contract Specification

Trading

,
Symbol DUSDRUB
Contract Size $ 50,000
Trading Currency Russian Ruble (RUB)
Settlement Currency US Dollars (USD)
Price Quote RUB for 1 USD (e.g. RUB 49.001 / 49.002 Per 1 USD)
Minimum Tick Size 0.001 RUB
Tick Value 50 RUB
Trading Days Monday through Friday
Trading Hours DGCX Trading Hours
Trading Months Quarterly Contracts December, March, June, September, at the outset first three Contracts shall be available for trading
Last Trading Day 15th day of the expiry month, except where that day is a bank holiday in either Dubai or Moscow, in which case the Last Day of Trading shall be the following Business Day that is not a bank holiday in either Dubai or Moscow.
New Contract Listing Business Day immediately following the Last Day of Trading
Daily Variation Margin (VM) payment From Trading Currency to Settlement Currency
Based on Spot Prices available for USD/RUB at the end of DGCX Trading Hours
Final VM payment From Trading Currency to Settlement Currency
Based on the USD-RUB fixing issued by Moscow Exchange (MOEX) on the last trading day
Final Cash Settlement Price Basis Based on the USD-RUB fixing issued by MOEX on the last trading day
Settlement Basis Cash
Wholesale Trades EFS, EFP, Block trade facilities available
Daily Price Movement Limit No price limit (for the avoidance of 慺at finger� errors price band shall be 1.00 RUB from previous settlement price e.g. if previous settlement price is RUB 49.001/US$ then the price band is from 48.001 to 50.001)
Maximum Order Size 500 lots for Banks and Institutions promoted by Banks
All other entities 200 lots
Korean Won Futures Contract Specification

Trading

Symbol DUSDKRW
Contract Size USD 50,000
Trading Currency Korean Won (KRW)
Settlement Currency US Dollars (USD)
Price Quote KRW for 1 USD (e.g. KRW 1114.1 / 1114.2 Per 1 USD)
Minimum Tick Size 0.1 KRW
Tick Value 5000 KRW
Trading Days Monday through Friday
Trading Hours DGCX Trading Hours
Trading Months Twelve Monthly Contracts, at the outset first three serial months Contracts shall be available for trading.
Last Trading Day The preceding Monday of the third Wednesday of the contract month except where that day is a bank holiday in either Dubai or Seoul, in which case the Last Day of Trading shall be the preceding Business Day that is not a bank holiday in either Dubai or Seoul
New Contract Listing Business Day immediately following the Last Day of Trading
Daily Variation Margin (VM) payment From Trading Currency to Settlement Currency
Based on Spot Prices available for USD-KRW at the end of DGCX Trading Hours
Final VM payment From Trading Currency to Settlement Currency
Based on the USD-KRW fixing issued by Korea Financial Telecommunication & Clearing Corporation (KFTCC) determined by Seoul Money Brokerage Service Limited (SMBSL), issued between 9.00 AM and 3.30 PM Seoul Time
Final Cash Settlement Price Basis Based on the USD-KRW fixing issued by KFTCC determined by SMBSL, issued between 9.00 AM and 3.30 PM Seoul Time
Settlement basis Cash
Daily Price Movement Limit No price limit (for the avoidance of 慺at finger� errors price band shall be 10 KRW from previous settlement price e.g. if previous settlement price is KRW 1114.1/US$ then the price band is from 1104.1 to 1124.1))
Maximum Order Size 500 lots for Banks and Institutions promoted by Banks
All other entities 200 lots
South African Rand Futures Contract Specification

Trading

Symbol DUSDZAR
Contract Size $ 50,000
Trading Currency South African Rand (ZAR)
Settlement Currency US Dollars (USD)
Price Quote ZAR for 1 USD (e.g. ZAR 11.016 / 11.017 Per 1 USD)
Minimum Tick Size 0.001 ZAR
Tick Value 50 ZAR
Trading Days Monday through Friday
Trading Hours DGCX Trading Hours
Trading Months Twelve Monthly Contracts, at the outset first three serial months Contracts shall be available for trading.
Last Trading Day The preceding Monday of the third Wednesday of the contract month except where that day is a bank holiday in either Dubai or Pretoria, in which case the Last Day of Trading shall be the preceding Business Day that is not a bank holiday in either Dubai or Pretoria
New Contract Listing Business Day immediately following the Last Day of Trading
Daily Variation Margin (VM) payment From Trading Currency to Settlement Currency
Based on Spot Prices available for USD/ZAR at the end of DGCX Trading Hours
Final VM payment From Trading Currency to Settlement Currency
Based on the USD-ZAR Fixing issued by Reserve Bank of South African on the last trading day
Final Cash Settlement Price Basis Based on the USD-ZAR Fixing issued by Reserve Bank of South Africa on the Last Day of Trading
Wholesale Trades EFS, EFP, Block trade facilities available
Settlement Cash
Daily Price Movement Limit No price limit (for the avoidance of 慺at finger� errors price band shall be 0.20 ZAR from previous settlement price e.g. if previous settlement price is ZAR 11.016/ US$ then the price band is from 10.816 to 11.216)
Maximum Order Size 500 lots for Banks and institutions promoted by Banks. All other entities 200 Lots
Mini INR-GBP Futures Contract Specification

Trading

Symbol DINRGBP
Contract Size INR 400,000
Trading Currency Pound Sterling (GBP)
Settlement Currency US Dollars (USD)
Price Quote GBP Pence for 100 INR (e.g. 102.01/102.02 GBP Pence per 100 INR)
Minimum Tick Size 0.01 GBP Pence
Tick Value 0.40 GBP
Daily Variation Margin (VM) payment From Trading Currency to Settlement Currency
Based on Spot Prices available for USD/GBP at the end of DGCX Trading Hours
Final VM payment Based on the Spot rates calculated from USD and GBP reference rate issued by the Reserve Bank of India (RBI) against INR in Mumbai at 12 noon on the Last Day of Trading or earliest available
Final Cash Settlement Price Basis INRGBP reference rate issued by the Reserve Bank of India, in Mumbai at 12 noon on the Last Day of Trading
Wholesale Trades EFS, EFP, Block trade facilities available
Daily Price Movement Limit No price limit*
Maximum Order Size 2500 lots for Banks and Institutions promoted by Banks. All other entities 1000
Trading Months First 3 consecutive serial months
Trading Days Monday through Friday
Trading Hours DGCX Trading Hours
Last Trading Day Two Business Days prior to the last calendar day of the Contract Month except where that day is a bank holiday in either Dubai or Mumbai in which case the Last Day of Trading shall be the preceding Business Day that is not a bank holiday in either Dubai or Mumbai
New Contract Listing Business Day immediately following the Last Day of Trading

Margin

Mini Indian Rupee-Dollar FX Futures Contract Specification

Margins

Initial Margin based on SPAN

$70 per Contract

Calendar Spread Margin

100% benefit is offered on calendar spread positions

Intra-commodity Margin Offset

100% benefit is offered on offsetting positions between INR and Mini INR positions.

Spread Position Margin

Nil on matched positions

Extra Margin

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

Indian Rupee-Dollar FX Futures Contract Specification

Margins

Initial Margin based on SPAN

US $ 700 per contract (subject to change)

Calendar Spread Margin

100% benefits is offered on calendar spread positions

Spread Position Margin

Nil on matched positions

Extra Margin

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

Delivery Period Margin

Not applicable

Euro-Dollar FX Futures Contract specification

Margins

Initial Margin based on SPAN

US $ 1000 per contract (subject to change)

Calendar Spread Margin

100% benefits is offered on calendar spread positions

Spread Position Margin

Nil on matched positions

Extra Margin

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

Delivery Period Margin

Five times the initial Margin

Australian Dollar -US Dollar FX Futures Contract Specification

Margins

Initial Margin based on SPAN

US $ 900 per contract (subject to change)

Calendar Spread Margin

100% benefits is offered on calendar spread positions

Spread Position Margin

Nil on matched positions

Extra Margin

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

Delivery Period Margin

Five times the initial Margin

Canadian Dollar -US Dollar FX Futures Contract Specification

Margins

,

Initial Margin based on SPAN

US $ 700 per contract (subject to change)

Calendar Spread Margin

100% benefits is offered on calendar spread positions

Spread Position Margin

Nil on matched positions

Extra Margin

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

Delivery Period Margin

Five times the initial Margin

Swiss Franc -US Dollar FX Futures Contract Specification

Margins

Initial Margin based on SPAN

US $ 900 per contract (subject to change)

Calendar Spread Margin

100% benefits is offered on calendar spread positions

Spread Position Margin

Nil on matched positions

Extra Margin

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

Delivery Period Margin

Five times the initial Margin

Sterling - Dollar Futures Contract Specification

Margins

Initial Margin based on SPAN

US $ 1100 per contract (subject to change)

Calendar Spread Margin

100% benefits is offered on calendar spread positions

Spread Position Margin

Nil on matched positions

Extra Margin

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

Delivery Period Margin

Five times the initial Margin

Japanese Yen-Dollar FX Futures Contract Specification

Margins

Initial Margin based on SPAN

US $ 1200 per contract (subject to change)

Calendar Spread Margin

100% benefits is offered on calendar spread positions

Spread Position Margin

Nil on matched positions

Extra Margin

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

Delivery Period Margin

Five times the initial Margin

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 1.5 US cents as compared to the previous day’s settlement price. Exchange shall relax the intra-day price range for the prices of the contract approaching the 1.5 US cents limit.
Russian Rubal Futures Contract Specification

Margins

Initial Margin based on SPAN

The Initial Margin will be denominated in RUB and the same shall be converted into equivalent USD at the prevalent Spot market rate of USD/RUB to display Initial Margin Utilization in USD terms.
At the outset, Initial Margin shall be RUB 120,000 subject to change.

Calendar Spread Margin

100% benefits is offered on calendar spread positions

Spread Position Margin

Nil on matched positions

Extra Margin

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

Delivery Period Margin

Five times the initial Margin

Japanese Yen-Dollar FX Futures Contract Specification

Margins

Initial Margin based on SPAN

The Initial Margin will be denominated in KRW and the same shall be converted into equivalent USD at the prevalent Spot market rate of USD/KRW to display Initial Margin Utilization in USD terms.
At the outset, Initial Margin shall be KRW 900,000 subject to change.

Calendar Spread Margin

100% benefits is offered on calendar spread positions

Spread Position Margin

Nil on matched positions

Extra Margin

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

Delivery Period Margin

Five times the initial Margin

South African Rand Futures Contract Specification

Margins

Initial Margin based on SPAN

The Initial Margin will be denominated in ZAR and the same shall be converted into equivalent USD at the prevalent Spot market rate of USD/ZAR to display Initial Margin Utilization in USD terms.
At the outset, Initial Margin shall be ZAR 11,000subject to change.

Calendar Spread Margin

100% benefits is offered on calendar spread positions

Spread Position Margin

Nil on matched positions

Extra Margin

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

Delivery Period Margin

Five times the initial Margin

Mini INR-GBP Futures Contract Specification

Margins

Initial Margin based on SPAN

The Initial Margin will denominated in GBP and the same shall be converted into equivalent USD at the prevalent Spot market rate of USD/GBP to display Initial Margin Utilization in USD terms
GBP 110 per contract

Calendar Spread Margin

100% benefits is offered on calendar spread positions

Spread Position Margin

Nil on matched positions

Extra Margin

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

Delivery Period Margin

Five times the initial Margin

Mini INR-EUR Futures Contract Specification

Margins

Initial Margin based on SPAN

The Initial Margin will denominated in EUR and the same shall be converted into equivalent USD at the prevalent Spot market rate of USD/EUR to display Initial Margin Utilization in USD terms
Euro 150 per contract

Calendar Spread Margin

100% benefits is offered on calendar spread positions

Spread Position Margin

Nil on matched positions

Extra Margin

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

Delivery Period Margin

Five times the initial Margin