Dgcx Em Currencies
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www.dgcx.ae As part of our continued strategy to build our product offering around the success of our currency futures contracts, DGCX is launching three Cash Settled Currency Contracts in the Russian Ruble, Korean Won and South African Rand. These new contracts will provide the international market with additional tools to manage their price risk and exposure to foreign currencies as well as new arbitrage opportunities. YOUR CURRENCY MARKETPLACE OF CHOICE Russian Ruble, Korean Won and South African Rand Cash Settled Currency Futures Contracts in US Dollar
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www.dgcx.ae
As part of our continued strategy to build our product offering around the success of ourcurrency futures contracts, DGCX is launching three Cash Settled Currency Contracts in theRussian Ruble, Korean Won and South African Rand.
These new contracts will provide the international market with additional tools to managetheir price risk and exposure to foreign currencies as well as new arbitrage opportunities.
YOUR CURRENCYMARKETPLACE OF CHOICERussian Ruble, Korean Won and South African Rand Cash Settled Currency Futures Contracts in US Dollar
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USD-KRW (US Dollars-Korean Won) Futures Contract
Contract SpecicationsContract Symbols DUSDKRWUnderlying US Dollar
Contract Size USD 50,000Trading 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 KRWTick Value 5000 KRWDaily Variation Margin (VM)payment
From Trading Currency to Settlement CurrencyBased on Spot Prices available for USD-KRW at the end of DGCX Trading Hours
Final VM payment
From Trading Currency to Settlement CurrencyBased on the USD-KRW xing issued by Korea nancial telecommunication and clearing corporationdetermined by Seoul Money Brokerage Service Limited , issued between 9.00 AM and 3.30 PM SeoulTime
Final Cash Settlement Price BasisBased on the USD-KRW xing issued by Korea nancial telecommunication and clearing corporationdetermined by Seoul Money Brokerage Service Limited , issued between 9.00 AM and 3.30 PM SeoulTime
Wholesale Trades EFS, EFP, Block trade facilities available
Daily Price Movement LimitNo price limit (for the avoidance of ‘fat nger’ er rors price band shall be 150 basis points from previoussettlement price)
Maximum Order Size500 lots for Banks and Institutions promoted by BanksAll other entities 200 lots
Trading Months Twelve Monthly ContractsTrading Days Monday through FridayTrading Hours DGCX Trading Hours
Last Trading DayThe preceding Monday of the third Wednesday of the contract month. If it is a holiday then thefollowing working day
New Contract Listing Business Day immediately following the Last Day of Trading
Initial Margin based on SPANThe Initial Margin will be denominated in KRW and the same shall be converted into equivalent USD atthe prevalent Spot market rate of USD/KRW to display Initial Margin Utilization in USD terms.At the outset, Initial Margin shall be KRW 9,00,000 subject to change.
Indicative VMIndicative VM on EOS-Clear will be displayed in USD as per the prevalent spot market rate for USD/KRWDCCC shall update the spot rates for USD/KRW intraday for at least 3 times at 0600, 1500 and End ofDGCX Trading Hours
Calendar Spread Benet 100% Calendar Spread benetExtra Margin At times of high volatility, an extra margin, as deemed t by the Exchange, may be chargedDelivery Period Margin Not applicableSpot rate Shall be taken from available market data sources like Bloomberg and Reuters.
Conversion of Variation Margin from Trading Currency into Settlement Currency-ExampleVM at Close of DGCX Trading Hours is 300,000 KRW (Trading Currency)The USDKRW spot rate is 1,112.53 a t close of DGCX Trading Hours.The VM will be 300,000/ 1112.53 = 269.65 USD (Settlement Currency) rounded off to the nearest US¢.
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USD-ZAR (US Dollars-South African Rand) Futures Contract
Further Information
Contract SpecicationsContract Symbols DUSDZAR
Underlying US DollarContract Size USD 50,000Trading 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 ZARTick Value 50 ZARDaily Variation Margin (VM)payment
From Trading Currency to Settlement CurrencyBased on Spot Prices available for USD/ZAR at the end of DGCX Trading Hours
Final VM paymentFrom Trading Currency to Settlement CurrencyBased 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 African on the last trading dayWholesale Trades EFS, EFP, Block trade facilities available
Daily Price Movement Limit No price limit (for the avoidance of ‘fat nger’ er rors price band shall be 150 basis points from previoussettlement price)
Maximum Order Size500 lots for Banks and Institutions promoted by BanksAll other entities 200 lots
Trading Months Twelve Monthly ContractsTrading Days Monday through FridayTrading Hours DGCX Trading Hours
Last Trading DayPreceding Monday of the third Wednesday of the contract month, if it a holiday then the followingworking day
New Contract Listing Business Day immediately following the Last Day of Trading
Initial Margin based on SPANThe Initial Margin will be denominated in ZAR and the same shall be converted into equivalent USD atthe prevalent Spot market rate of USD/ZAR to display Initial Margin Utilization in USD terms.At the outset, Initial Margin shall be ZAR 11,000 subject to change.
Indicative VMIndicative VM on EOS-Clear will be displayed in USD as per the prevalent spot market rate for USD/ZARDCCC shall update the spot rates for USD/ZAR intraday for at least 3 times at 0600, 1500 and End ofDGCX Trading Hours
Calendar Spread Benet 100% Calendar Spread benetExtra Margin At times of high volatility, an extra margin, as deemed t by the Exchange, may be chargedDelivery Period Margin Not applicableSpot rate Shall be taken from available market data sources like Bloomberg and Reuters.
Conversion of Variation Margin from Trading Currency into Settlement Currency-ExampleVM at Close of DGCX Trading Hours is 1000 ZAR (Trading Currency)The USDZAR spot rate is 10.9902 at close of DGCX Trading Hours.The VM will be 1000/ 10.9902 = 90.99 USD (Settlement Currency) rounded off to the nearest US¢.
Reference herein to “DGCX” shall mean the Dubai Gold & Commodities Exchange DMCC. This publication is for information only and does not constitute an offer, solicitationor recommendation to acquire or dispose of any investment or to engage in any other transaction. Neither DGCX nor its affiliates, associates, representatives, directors oremployees, shall be responsible for any loss or damage that may arise to any person due to any action taken on the basis of this publication. DGCX shall not be responsible forany errors or omissions contained in this publication. All information, descriptions, examples and calculations contained in this publication are for guidance purposes only andshould not be treated as denitive. No part of this publication may be redistributed or reproduced without written permission from DGCX. Those wishing either to trade futuresand options contracts on DGCX, or to offer and sell them to others should establish their regulatory position before doing so. DGCX is regulated by the Emirates Securities andCommodities Authority (ESCA). ESCA is a member of the International Organisation of Securities Commissions (IOSCO).
Dubai Gold & Commodites Exchange
Tel: +971 (0)4 361 1616 Email: [email protected] Web: www.dgcx.ae
Simarjeet Baweja Tel, +971562162530 Email: [email protected]
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