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Currency Futures |
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In a landmark development, DGCX introduced currency futures contracts in 3 major currencies – Euro-Dollar, Yen-Dollar and Sterling-Dollar within 3 months of launching Silver futures. Currency futures contracts have maturities in March, June, September and December each year. These are physically deliverable contracts which have now established DGCX as the only commodities exchange offering trading in precious metals and currencies on the same platform in the Middle East. |
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Currency futures contracts provides an edge to its market participants by providing the unique advantage to trade and hedge commodity as well as currencies risk on on the same exchange. |
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This pioneering initiative is expected to generate interest among corporate treasuries, importers, exporters, inter-bank dealers and retail participants in the region, who were traditionally confined to banks and other large financial institutions for their foreign exchange market requirements. DGCX’s currency futures product will be an opportunity for private investors and an important risk management tool for foreign currency market participants in the region. |
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Contract Specifications |
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Dubai Euro-Dollar FX Futures Contract |
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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 Date |
3rd Wednesday of Expiry Month |
| Price Quote |
US$ quoted in Cents per € |
| Minimum Tick Size |
US$ 0.0001 per € or $ 5 per tick |
| Initial Margin |
USD 1,200 |
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Spread Position Margin |
Nil on matched positions. |
| Extra Margin |
In case of additional volatility, an Extra Margin as deemed fit by the Exchange; will be imposed on all open positions. |
Trading Days and
hours |
Monday through Friday
0830 – 2330 Hrs (GMT + 4 hours) |
| Maximum Order Size |
Banks and institutions promoted by Banks -
500 Lots
All other entities - 200 Lots |
| Price Limit |
No Price Limits* (Note 1) | |
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Dubai Sterling-Dollar FX Futures Contract |
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Trading |
| Symbol |
DGBP |
| Contract Size |
£ 50,000 |
| Trading Months |
Mar, Jun, Sep and Dec |
| Last Trading Day |
2 Business days before 3rd Wednesday of Expiry month |
| Settlement Date |
3rd Wednesday of Expiry Month |
| Price Quote |
US$ quoted in Cents per £ |
| Minimum Tick Size |
US$ 0.0001 per £ or $ 5 per tick |
| Initial Margin |
USD 1,400 |
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Spread Position Margin |
Nil on matched positions. |
| Extra Margin |
In case of additional volatility, an Extra Margin as deemed fit by the Exchange; will be imposed on all open positions. |
Trading Days and
hours |
Monday through Friday
0830 – 2330 Hrs (GMT + 4 hours) |
| Maximum Order Size |
Banks and institutions promoted by Banks -
500 Lots
All other entities - 200 Lots |
| Price Limit |
No Price Limits* (Note 1) | |
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Dubai Yen-Dollar FX Futures Contract |
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Trading |
| Symbol |
DJPY |
| Contract Size |
¥ 5,000,000 |
| Trading Months |
Mar, Jun, Sep and Dec |
| Last Trading Day |
2 Business days before 3rd Wednesday of Expiry month |
| Settlement Date |
3rd Wednesday of Expiry Month |
| Price Quote |
US$ quoted in Cents per 100 ¥ |
| Minimum Tick Size |
US$ 0.000001 per ¥ or $ 5 per tick |
| Initial Margin |
USD 1,000 |
| Spread Position Margin |
Nil on matched positions. |
| Extra Margin |
In case of additional volatility, an Extra Margin as deemed fit by the Exchange; will be imposed on all open positions. |
Trading Days and
hours |
Monday through Friday
0830 – 2330 Hrs (GMT + 4 hours) |
| Maximum Order Size |
Banks and institutions promoted by Banks -
500 Lots
All other entities - 200 Lots |
| Price Limit |
No Price Limits* (Note 1) | |
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Dubai Indian Rupee-Dollar FX Futures Contract |
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Trading |
| Symbol |
DINR |
| Contract Size |
INR 2,000,000 |
| Trading Months |
Monthly contracts for nearest three months
Quarterly for months four to twelve forward |
| Last Trading Day |
2 business days before 3rd Wednesday of Expiry month |
| Settlement Date |
3rd Wednesday of Expiry Month |
| Price Quote |
US$ quoted in Cents per 100 Indian Rupees (e.g. 244.56 / 244.62 US Cents per 100 Indian Rupees) |
| Minimum Tick Size |
US$ 0.000001 per INR or $ 2 per tick |
| Initial Margin |
As determined by the Exchange from time to time using SPAN Margin System. At the outset, Minimum Initial Margin shall be US$1500 |
Trading Days and
hours |
Monday through Friday
0830 – 2000 Hrs Dubai Time |
| Maximum Order Size |
Banks and institutions promoted by Banks –
500 Lots
All other entities – 200 Lots |
| Price Limit |
No Price Limits* (Note 1) | |
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Note 1: – There will be no limits on intra-day price movements, however to restrict data-entry errors; system will not allow entry of orders having prices higher or lower than 2 US cents (200 ticks) 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 2 US cents limit. |