Trading is risky and your entire investment may be at risk

Metals

Metals have historically been an investor’s favorite. The market for metals is highly liquid and is often influenced by a variety of factors, including political and economic events. During times of uncertainty, precious metals have been proven to be the safer alternative for investors as they are more resilient to the effects of economic pressures and downturns. Both gold and silver can offer interesting trading opportunities depending on the choice of the pair.
A precious metals futures contract is a binding agreement for delivery of gold or silver in the future at an agreed-upon price. The contracts are standardized by a futures exchange as to quantity, quality, time and place of delivery. Only the price is variable.

Gold Futures is a hedging tool for commercial producers and users of gold. In addition we offer ongoing trading opportunities, since gold price responds quickly to political and economic events. It serves as an alternative to investing in gold bullion, coins etc.

Gold futures contract was the first contract launched on DGCX platform in 2005 and has traded more than 5.4 million lots since then. DGCX offers to trade these 7 futures contracts with exceptionally low Initial Margin Requirements and cleared within Dubai Commodity Clearing Corporation (DCCC).

MetaTrader 5

Contract Name

Contract Code

Currency

Initial Margin

Gold Futures

DG

USD

1400

Spot Gold

DGSG

USD

1400

India Gold “Quanto”

DIG

USD

1050

DGCX Shanghai Gold Futures

DSGC

CNH

9500

Silver Futures

DS

USD

900

India Silver “Quanto”

DIS

USD

2100

Copper Futures

DCU

USD

1400

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Gold is one of the oldest and well-known products used for investment in the history of human existence. The investments in gold have traditionally been to hedge against inflation. For majority of the diversified investment funds, gold is a must have product in the portfolio.

DGCX Gold futures contract provides the international benchmark pricing Gold contract for investors, speculators, hedgers and arbitragers. Gold futures contract was the first contract launched on DGCX platform in 2005 and has traded more than 5.4 million lots since then.

  • Trade your views on the International benchmark Gold prices
  • Arbitrage opportunity with the highly correlated gold contract based on Indian and other international benchmark prices.
  • Benefit from margin offset provided by DCCC for inter-commodity spreads
  • Low cost structure
  • USD denominated, Intention matching mechanism for delivery
  • Lot size of 32 troy ounces (Approx. 1 KG)
  • Tick size of USD 0.10 per troy ounce and tick value of USD 3.2
  • Efficient margining for optimal leverage
  • 6 contract months (covering approximately a calendar year) available at any given point of time
  • Live prices available under marketwatch link on DGCX website

Contract

Parameters

Contract Symbol

DG

Underlying

Gold

Contract Size

32 troy ounces. (1 kg)

Notional Contract Value

32xGold Price quote in USD pr troy ounces

Trading Currency

USD

Settlement Currency

USD

Price Quote

USD per Troy Ounces

Tick Size

USD 0.1

Tick Value

USD 3.2

Settlement Basis

Physical Delivery

Last Day of Trading

Third last business day of the month preceding the Delivery Month

Trading Days

Monday through to Friday

Trading Hours

DGCX Trading Hours

Trading Months

Feb, Apr, Jun, Aug, Oct and Dec

New Contract Listing

Business day immediately following last trading day

Max Order Size

200 contracts

Initial Margin based on SPAN

USD 1,400 per lot (subject to change)

Calendar Spread Margin

Depending upon each class of asset, spread position margin (Calendar spread margin) is charged using the SPAN framework. In case of Gold, 100% benefit is offered on calendar spread margins

Extra Margin

In time of high volatility, an extra margin as deemed fit by the Exchange may be imposed on all open positions

Delivery Margin

Five (5) times of the Initial Margins

Daily Price Movement limit

No Limits*

Note 1*: For the avoidance of "fat finger" errors, price band shall be USD 20 from previous settlement price e.g. if previous settlement price is USD 1,200 then the price band is from USD 1,180 to USD 1,220. If price breaches the daily price movement limit, trading in particular contract shall continue, with the new trading price range without any cooling period

Delivery Mechansim Details

Delivery Unit

31.99 troy ounces (1kg) cast in one bar, accompanied by the original Refiner's Certificate

Deliverable Quality

0.995 Fineness

Exchange of Futures for Physical (EFP)

EFP (Exchange of Futures of Physical) - a mechanism to exchange Futures for Spot, and Spot for Futures will be available

Approved CMI / Assayers

Names as listed on the DGCX/DCCC websites

Approved Brands

Names as listed on the DGCX/DCCC websites

Approved Refiners

Names as listed on the DGCX/DCCC websites

Approved Vaults

Names as listed on the DGCX/DCCC websites

Delivery Period

First Day of the Delivery Month

Notice Day

Last Day of trading of the Delivery Month

Delivery Process

The Matching of Buyers and Sellers for Gold delivery will be completed on a time priority basis upon receipt of their Tender/ Delivery Notices

Vault Charges

Rates applicable as published on the DGCX website

Daily Settlement Price

As per DGCX Notice # COMP-2008-014 dated April 22, 2008

Delivery Instrument

Warrant

Option for Cash Settlement

Open Positions that have not been closed out on the Last Day of Trading are subject to cash settlement as per gold cash settlement price declared by the Exchange

Product

Contract

Last trading date

Expiry date

Tender start date

Tender end date

Delivery start date

Delivery end date

DG

DG-20170127

27-Jan-2017

27-Jan-2017

27-Jan-2017

27-Jan-2017

30-Jan-2017

30-Jan-2017

DG

DG-20170329

29-Mar-2017

29-Mar-2017

29-Mar-2017

29-Mar-2017

30-Mar-2017

30-Mar-2017

DG

DG-20170526

26-May-2017

26-May-2017

26-May-2017

26-May-2017

29-May-2017

29-May-2017

DG

DG-20170727

27-Jul-2017

27-Jul-2017

27-Jul-2017

27-Jul-2017

28-Jul-2017

28-Jul-2017

DG

DG-20170927

27-Sep-2017

27-Sep-2017

27-Sep-2017

27-Sep-2017

28-Sep-2017

28-Sep-2017

DG

DG-20171128

28-Nov-2017

28-Nov-2017

28-Nov-2017

28-Nov-2017

29-Nov-2017

29-Nov-2017

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Dubai is known as the city of gold. Some of the traditional issues for the Gold market here in Dubai are price discovery and basis risk management. The introduction of a spot gold contract on DGCX will create significant value to the physical market participants, enabling them to manage their risk appetite and facilitate a combination of strategies that can be deployed on both futures and spot platform to provide the desired yield.

One of the key benefits the DGCX Spot Gold Contract provides for the bullion trading industry is facilitating netting benefits on a single platform. Participants across the spectrum have better counterparty risk management tools and this provides a platform to gold investors to derive another revenue stream for their investments. Once launched and established, the DGCX spot Gold contract will attract participants from overseas and locally due to availability of a regionally relevant price benchmark.

  • Contract size of 32 troy ounces in line with industry standards.
  • USD denominated, regulated Gold spot contract on an established platform
  • Tick size of USD 0.10 per Troy Ounce
  • Option to take delivery or roll-over to the next day
  • Robust risk management controls including delivery limits and Span based margining
  • Participate in gold trade in one of the largest bullion trading hubs in the world
  • Transparent price discovery in gold in Dubai
  • Take out the basis risk from gold trading in Dubai
  • Accept reputable gold brands for delivery
  • Available on robust trading and clearing platform subscribing to global best practices and standards
  • Physical traders get automatically netted off against their physical exposure on DGCX

Contract

Parameters

Contract Symbol

DGSG

Underlying

Gold

Contract Size

32 troy ounces. (1 kg)

Notional Contract Value

32xGold Price quote in USD pr troy ounces

Trading Currency

USD

Settlement Currency

USD

Price Quote

USD per Troy Ounces

Tick Size

USD 0.1

Tick Value

USD 3.2

Settlement Basis

Physical Delivery

Automatic Rollover Mechanism

On any given trading day, unless a notice of delivery intent has been recieved by DCCC prior to 20:15 Hours UAE time, all open positions will be marked to market and automatically carried forward into the next trading session. For all carried forward positions a rollover fee will be applied

Final Cash Settlement Price

As published by DGCX in line with relevant Rules, Bylaws and notices published and updated from time to time

Trading Days

Monday to Friday

Trading Hours

07:00 - 20:00 Hours UAE time (GMT+4)

Max Order Size

200 lots

Minimum Delivery Size

1 Lot

Delivery Notice

Delivery Notice

Initial Margin based on SPAN

USD 1,200 per contract, subject to change.

Delivery Margin

5 times the Initial Margin, subject to change

Daily Price Movement limit

No Price Limit*

Note 1*: For the avoidance of "fat finger" errors, price band shall be USD 20 from previous settlement price e.g. if previous settlement price is USD 1,200 then the price band is from USD 1,180 to USD 1,220. If price breaches the daily price movement limit, trading in particular contract shall continue, with the new trading price range without any cooling period

Delivery Mechansim Details

Delivery Unit

31.99 troy ounces (1kg) cast in one bar, accompanied by the original Refiner's Certificate

Deliverable Quality

0.995 Fineness

Delivery Logic

Random allocation

Delivery Days

T+2 (Monday to Friday)

Delivery Fee

Rates applicable and to be published on the DGCX/DCCC website.

Delivery Method Instrument & Location

100% Cash via DCCC, 100% physical Gold via DMCC Tradeflow Warrant at approved vault locations within the Emirate of Dubai.

Pay-In of Funds / Delivery-In of Gold

Pay in before 10:00 Hours UAE time (GMT+4) on T+2. Pay out after 12:00 Hours UAE time (GMT+4) on T+2.

Exchange of Futures for Physical (EFP)

EFP (Exchange of Futures of Physical) - a mechanism to exchange Futures for Spot, and Spot for Futures will be available

Approved CMI / Assayers

Names as listed on the DGCX/DCCC websites

Approved Brands

Names as listed on the DGCX/DCCC websites

Rollover Fee, per lot

US$ 0.96 per lot charged to the holders of positions that have been rolled over. The rollover fee will be published by DCCC from time to time. The corporation could levy different rollover fees for the long and short positions

Daily Settlement Price

As per DGCX Notice # COMP-2008-014 dated April 22, 2008

Position Limits

As determined by Exchange from time to time

Delivery Limits

Clearer Member level limit - 50% of Open Interest OR 125 Kgs whichever is lower. Trading Member level limit - 20% of Open Interest or 75 Kgs whichever is lower. Client level limit - 10% of Open Interest OR 25 Kgs whichever is lower. All above conditions and parameters are subject to change by DCCC from time to time and will be published on our website.

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India is well known as the biggest Gold importing country in the world. Love for Gold in India goes back millenniums and Indian households are estimated to be holding 22.000 MT of Gold. India has a well-developed gold cash market. The India Gold Quanto futures contract on DGCX platform provides a price discovery and trading avenue for the industry participants for Gold traded in India.

DGCX trades before start and after closure of Indian market hours, which will provide a unique opportunity for traders to discover price and trade in the contract on basis of the information available to them for all international and national events.

  • Trade your views on the Indian Gold Market
  • Arbitrage opportunity with the highly correlated gold contract based on global prices.
  • Benefit from margin offset provided by DCCC for inter-commodity spreads
  • Low cost structure
  • Trade Gold futures based on the biggest Gold consumption market in the world
  • USD denominated, Cash settled
  • Tax Free – No transaction Tax, Zero Capital gains Tax
  • Tick size of USD 1
  • Extends beyond trading hours of reference market
  • Efficient margining for optimal leverage
  • No INR exchange rate risk

Contract

Parameters

Contract Symbol

DIG

Underlying

India Gold

Contract Size

1

Notional Contract Value

USD 1.00X Indian Gold Futures Price quoted in INR per 10gms (e.g. Bid 27575 / Offer 27,576)

Trading Currency

USD

Settlement Currency

USD

Price Quote

USD 1.00X Indian Gold Futures Price quoted in INR per 10gms (e.g. Bid 27575 / Offer 27,576)

Tick Size

USD 1

Tick Value

USD 1

Settlement Basis

Cash Settlement

Final Cash Settlement Price

The Final Cash Settlement Price basis shall be the benchmark reference Gold futures price publically available in Indiathat corresponds to the DGCX Contract Month

Last Day of Trading

The Last Day of Trading for Gold Quanto Futures Contracts is the second last Day of Trading of the month immediately preceding the Delivery month

Trading Days

Monday through to Friday

Trading Hours

DGCX Trading Hours

Trading Months

February, April, June, August, October, December (Six contracts at any given point of time)

New Contract Listing

Business Day immediately following the Last Day of Trading

Max Order Size

500 contracts for Banks and institutions promoted by Banks. All other entities 200 contracts

Initial Margin based on SPAN

USD 1,050 per lot (subject to change)

Calendar Spread Margin

100% benefit is offered on calendar spread margins

Daily Price Movement limit

No Limits*

Note 1*: For the avoidance of ‘fat finger’ errors price band shall be USD 900 from previous settlement price. (E.g. if previous settlement price is USD 27,000, the price band is from USD 26,100 to USD 27,900). If price breaches the daily price movement limit, trading in particular contract shall continue, with the new trading price range without any cooling period

Product

Contract

Last trading date

Expiry date

Tender start date

Tender end date

Delivery start date

Delivery end date

DIG

DIG-20170130

30-Jan-2017

30-Jan-2017

31-Jan-2017

31-Jan-2017

31-Jan-2017

31-Jan-2017

DIG

DIG-20170330

30-Mar-2017

30-Mar-2017

31-Mar-2017

31-Mar-2017

31-Mar-2017

31-Mar-2017

DIG

DIG-20170530

30-May-2017

30-May-2017

31-May-2017

31-May-2017

31-May-2017

31-May-2017

DIG

DIG-20170728

28-Jul-2017

28-Jul-2017

31-Jul-2017

31-Jul-2017

31-Jul-2017

31-Jul-2017

DIG

DIG-20170928

28-Sep-2017

28-Sep-2017

29-Sep-2017

29-Sep-2017

29-Sep-2017

29-Sep-2017

DIG

DIG-20171129

29-Nov-2017

29-Nov-2017

30-Nov-2017

30-Nov-2017

30-Nov-2017

30-Nov-2017

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China is known as the one of the biggest gold producing and consuming countries in the world. It is also one of the top two importers of gold globally. Traditionally, China has been deficient in gold investments at both the sovereign and investor level. Gold consumption in China has risen significantly with consistent purchases by the Government of China. The government has also encouraged the Chinese public to invest in gold and use it as an instrument for their savings.

Dubai has historically been a central hub for gold trading in the MENA region. The China Belt and Road initiative also passes through the region and holds strategic value for both China and the UAE. A large part of the trading community in the Americas, Europe and Asia are keen to participate in Chinese physical and derivative markets. At the same time the Chinese government wants to increase the acceptance of Chinese Yuan and the Chinese Gold price benchmark prices globally. The launch of the DGCX Shanghai Gold Futures Contract provides all stakeholders including the government in China, UAE and Dubai, market participants, SGE and DGCX a suitable opportunity to progress together on the chosen path with one singular goal.

  • Tracks and prices the largest Gold market in the world by production and consumption
  • Settlement based on the Chinese Gold benchmark Price as declared by the Shanghai Gold Exchange (SGE)
  • Traded and Cash settled in Chinese Yuan (CNH)
  • Zero Capital Gains Tax and Zero Corporate Tax
  • Contract size of 1000 grams (1kg); Tick Value of CNH 10
  • Efficient margining for optimal leverage
  • Trade your view on the Chinese Gold market
  • Trade the spread between Shanghai Gold and correlated Gold products listed on DGCX
  • The margin offsets by DCCC for inter-commodity spreads offers greater capital efficiency

Contract Specification

Parameters

Contract Symbol

DSGC

Underlying

Shanghai Gold Benchmark Price PM *

Contract Size

1,000 Gram (1kg)

Quality Specification

Not lower than 0.9999 purity

Trading Currency

CNH

Settlement Currency

CNH

Price Quote

CNH/Gram (e.g. Bid 284.56/ Ask 284.57)

Tick Size

0.01 CNH

Tick Value

10 CNH

Daily Price Movement Limit

No Limit**

Max Order Size

500 contracts for Banks and institutions promoted by Banks. All other entities 200 contracts

Trading Days

Monday through to Friday

Trading Hours

07:00 - 23:55 Hours Dubai time (GMT+4)

Trading Months

February, April, June, August, October, December. M1-M2 Spread contract (e.g. Feb-Apr; Apr-Jun, Jun-Aug etc.) and Jun-Dec Spread contract (Dec-Jun Spread contract)

Last Day of Trading

The 15th day of the expiring contract month. If it is a holiday in Shanghai Gold Exchange (SGE) or Dubai Gold & Commodities Exchange (DGCX), then the Last Day of Trading shall be the next Business Day for SGE after the holiday which is not holiday in DGCX. The expiring contract will close market at 12 PM Dubai time on the Last Day of Trading

New Contract Listing

Business Day immediately following the Last Day of Trading

Settlement

Cash settled

Final Cash Settlement Price basis***

The Final Cash Settlement Price shall be the Shanghai Gold Benchmark Price PM as published by SGE at approximately 1415 hours Beijing time on the Last Day of Trading.

Initial Margin based on SPAN

CNH 9,500 per lot, Subject to change

Calendar Spread Margin

Currently 100% benefit is offered on calendar spread margins

Extra Margin

In times of high volatility, an extra margin as deemed fit by the DGCX may be imposed on all open positions

Wholesale Trades

As per DGCX By-Laws.

*Benchmark Gold PM Fixing prices as declared by Shanghai Gold Exchange at around 1415 Hrs China Time

**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 5% above or below the closing price of the previous trading day. The DGCX shall relax the intra-day price range for the prices of the contract approaching the 5% limit.

*** Example: If Shanghai Gold Benchmark PM price as published by Shanghai Gold Exchange on last day of trading of near month DSGC futures contract is RMB 280/gram then Final Settlement Price of DSGC near month futures contract will be CNH 280/gram

Contract Symbol

Contract Month

Trading Start Date

Last Trading Date

DSGC-20170615

June 2017

10/03/2017

15/06/2017

DSGC-20170815

Aug 2017

10/03/2017

15/08/2017

DSGC-20171016

Oct 2017

10/03/2017

16/10/2017

DSGC-20171215

Dec 2017

10/03/2017

15/12/2017

DSGC-20180215

Feb 2018

10/03/2017

15/02/2018

DSGC-20170615-20170815

Jun-2017-Aug-2017 Spread Contract

10/03/2017

15/06/2017

DSGC-20170615-20171215

Jun-2017-Dec-2017 Spread Contract

10/03/2017

15/06/2017

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Silver is usually termed as poor man’s Gold. A soft, white, lustrous transition metal, it possesses the highest electrical conductivity, thermal conductivity, and reflectivity of any metal. The metal occurs naturally in its pure, free form (native silver) and as an alloy with gold and other metals. Most silver is produced as a byproduct of copper, gold, lead, and zinc refining. Silver has been used for thousands of years for ornaments and utensils, trade, and as the basis for many monetary systems. Its value as a precious metal was long considered second only to gold.

Silver futures contract was the second contract launched on DGCX platform and offers international benchmark pricing contract for investors, speculators, hedgers and arbitragers.

  • Trade your views on the International benchmark Silver prices
  • Arbitrage opportunity with the highly correlated Silver contract based on Indian and other international benchmark prices.
  • Benefit from margin offset provided by DCCC for inter-commodity spreads
  • Low cost structure
  • USD denominated, Intention matching mechanism for delivery
  • Lot size of 1,000 troy ounces (Approx. 31 KG)
  • Tick size of USD 0.005 per troy ounce and tick value of USD 5
  • Efficient margining for optimal leverage
  • 5 contract months (covering approximately a calendar year) available at any given point of time
  • Live prices available under marketwatch link on DGCX website

Contract

Parameters

Contract Symbol

DS

Underlying

Silver

Contract Size

1,000 troy ounces

Notional Contract Value

1000xSilver Price quote in USD pr troy ounces

Trading Currency

USD

Settlement Currency

USD

Price Quote

USD per Troy Ounces

Tick Size

USD 0.005

Tick Value

USD 5

Settlement Basis

Physical Delivery

Last Day of Trading

Third last business day of the month preceding the Delivery Month

Trading Days

Monday through to Friday

Trading Hours

DGCX Trading Hours

Trading Months

Mar, May, Jul, Sep and Dec

New Contract Listing

Business day immediately following last trading day

Max Order Size

200 contracts

Initial Margin based on SPAN

USD 1,100 per lot (subject to change)

Calendar Spread Margin

Depending upon each class of asset, spread position margin (Calendar spread margin) is charged using the SPAN framework. In case of Silver, 100% benefit is offered on calendar spread margins

Extra Margin

In time of high volatility, an extra margin as deemed fit by the Exchange may be imposed on all open positions

Delivery Margin

Five (5) times of the Initial Margins

Daily Price Movement limit

No Limits*

Note 1*: For the avoidance of "fat finger" errors, price band shall be USD 20 from previous settlement price e.g. if previous settlement price is USD 1,200 then the price band is from USD 1,180 to USD 1,220. If price breaches the daily price movement limit, trading in particular contract shall continue, with the new trading price range without any cooling period

Delivery Mechansim Details

Delivery Unit

30 Kilograms cast in one bar of 1,000 troy ounces (10% more or less)

Deliverable Quality

Minimum 0.999 fineness - Note 2*

Exchange of Futures for Physical (EFP)

EFP (Exchange of Futures of Physical) - a mechanism to exchange Futures for Spot, and Spot for Futures will be available

Approved CMI / Assayers

Names as listed on the DGCX/DCCC websites

Approved Brands

Names as listed on the DGCX/DCCC websites

Approved Refiners

Names as listed on the DGCX/DCCC websites

Approved Vaults

Names as listed on the DGCX/DCCC websites

Delivery Period

First through Fifth Delivery Day of the Delivery Month

First Notice Day

Business Day immediately preceding First Delivery Day

Last Notice Day

Business Day immediately preceding Fifth Delivery Day

Delivery Process

The Matching of Buyers and Sellers for Gold delivery will be completed on a time priority basis upon receipt of their Tender/ Delivery Notices

Vault Charges

Rates applicable as published on the DGCX website

Daily Settlement Price

As per DGCX Notice # COMP-2008-014 dated April 22, 2008

Delivery Instrument

Warrant

Option for Cash Settlement

The Final Silver cash settlement price for Silver Futures at the Close on the Last Day of Trading shall be the settlement price as made public by COMEX for the delivery month which corresponds to the applicable DGCX Delivery Month

Product

Contract

Last trading date

Expiry date

Tender start date

Tender end date

Delivery start date

Delivery start date

DS

DS-20170224

24-Feb-2017

24-Feb-2017

24-Feb-2017

24-Feb-2017

27-Feb-2017

27-Feb-2017

DS

DS-20170426

26-Apr-2017

26-Apr-2017

26-Apr-2017

26-Apr-2017

27-Apr-2017

27-Apr-2017

DS

DS-20170628

28-Jun-2017

28-Jun-2017

28-Jun-2017

28-Jun-2017

29-Jun-2017

29-Jun-2017

DS

DS-20170829

29-Aug-2017

29-Aug-2017

29-Aug-2017

29-Aug-2017

30-Aug-2017

30-Aug-2017

DS

DS-20171128

28-Nov-2017

28-Nov-2017

28-Nov-2017

28-Nov-2017

29-Nov-2017

29-Nov-2017

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Indian household are known to use a big part of their savings in buying Gold and Silver. This is primarily due to easy and historic understanding of physical bullion and lack of awareness and understanding of other key asset classes like equity, fixed income etc. In recent years silver consumption in India has significantly increased with a push on solar energy and household buying.

DGCX India Silver Quanto Futures contract will trade before start and after closure of Indian market hours, which will provide a unique opportunity for traders to discover price and trade in the Silver contract on basis of the information available to them for all international and national event.

  • Easily trade your views on the Indian Silver market
  • Arbitrage opportunity with highly correlated DGCX Silver contract based on global prices.
  • Benefit from Margin offset provided by DCCC for inter-commodity spreads.
  • Low cost structure
  • USD denominated, cash settled futures contract
  • Tick value of USD 1
  • Extends beyond trading hours of reference market
  • Efficient margining for optimal leverage
  • No Indian Rupee foreign exchange rate risk

Contract

Parameters

Contract Symbol

DIS

Underlying

India Silver

Contract Size

1

Notional Contract Value

USD 1 * Indian Silver Futures Price quoted in INR/ KG (e.g. Bid 36,000 / Ask 36,001)

Trading Currency

USD

Settlement Currency

USD

Price Quote

USD 1 * Indian Silver Futures Price quoted in INR/ KG (e.g. Bid 36,000 / Ask 36,001)

Tick Size

USD 1

Tick Value

USD 1

Settlement Basis

Cash Settlement

Final Cash Settlement Price

The final cash settlement price basis shall be the benchmark reference silver futures price publicly available in India that corresponds to the DGCX contract month

Last Day of Trading

The Last Day of Trading for Gold Quanto Futures Contracts is the second last Day of Trading of the month immediately preceding the Delivery month

Trading Days

Monday through to Friday

Trading Hours

DGCX Trading Hours

Trading Months

March, May, July, September, December (three contracts at any given point of time)

New Contract Listing

Business Day immediately following the Last Day of Trading

Max Order Size

500 contracts for Banks and institutions promoted by Banks. All other entities 200 contracts

Initial Margin based on SPAN

USD 2,100 per lot (subject to change)

Calendar Spread Margin

100% benefit is offered on calendar spread margins

Daily Price Movement limit

No Limits*

Note 1*: * For the avoidance of ‘fat finger’ errors price band shall be USD 1,500 from previous settlement price e.g. if previous settlement price is USD 36,000 then the price band is from USD 34,500 to USD 37,500. If price breaches the daily price movement limit, trading in particular contract shall continue, with the new trading price range without any cooling period

Product

Contract

Last trading date

Expiry date

Tender start date

Tender end date

Delivery start date

Delivery end date

DIS

DIS-20170227

27-Feb-2017

27-Feb-2017

28-Feb-2017

28-Feb-2017

28-Feb-2017

28-Feb-2017

DIS

DIS-20170427

27-Apr-2017

27-Apr-2017

28-Apr-2017

28-Apr-2017

28-Apr-2017

28-Apr-2017

DIS

DIS-20170629

29-Jun-2017

29-Jun-2017

30-Jun-2017

30-Jun-2017

30-Jun-2017

30-Jun-2017

DIS

DIS-20170830

30-Aug-2017

30-Aug-2017

31-Aug-2017

31-Aug-2017

31-Aug-2017

31-Aug-2017

DIS

DIS-20171129

29-Nov-2017

29-Nov-2017

30-Nov-2017

30-Nov-2017

30-Nov-2017

30-Nov-2017

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Copper is a malleable, ductile, metallic element having a characteristic reddish-brown color: used in large quantities as an electrical conductor and in the manufacture of alloys, as brass and bronze. Copper is found as a pure metal in nature, and this was the source of the first metal to be used by humans, ca. 8,000 BC; it was the first metal to be smelted from its ore, ca. 5,000 BC; it was the first metal to be cast into a shape in a mold, ca. 4,000 BC; and it was the first metal to be purposefully alloyed with another metal, tin, to create bronze, ca. 3,500 BC

Copper contract on DGCX platform offers international benchmark pricing contract for investors, speculators, hedgers and arbitragers.

  • Trade your views on the International benchmark Copper futures prices
  • Arbitrage opportunity with the highly correlated Copper forwards and futures benchmark prices.
  • Low cost structure
  • USD denominated, Intention matching mechanism for delivery
  • Lot size of 5 MT
  • Tick size of USD 1 per MT and tick value of USD 5
  • Efficient margining for optimal leverage
  • 5 contract months (covering approximately a calendar year) available at any given point of time
  • Live prices available under marketwatch link on DGCX website

Contract

Parameters

Contract Symbol

DCU

Underlying

DGCX Copper Futures

Contract Size

5 MT

Notional Contract Value

5xPrice of Copper in USD/MT

Trading Currency

USD

Settlement Currency

USD

Price Quote

US$ per MT

Tick Size

US$ 0.50

Tick Value

USD 2.50

Settlement Basis

Cash Settlement

Quality Specs

Grade 1 Electrolytic Copper Cathodes (full plate or cut) conforming to the American Society for Testing and Materials (B115-00), or its latest revision

Final Cash Settlement Price

The front month settlement price for Copper futures as made public by COMEX for the Last Day of Trading of the DGCX front month contract, converted using conversion factor of 2,204.623 to MT and rounded to the nearest DCU tick.

Last Day of Trading

Third last Business Day preceding the Delivery Month

Trading Days

Monday through to Friday

Trading Hours

DGCX Trading Hours

Trading Months

March, May, July, September, December. Minimum five (5) Contracts shall be listed for trading at all time

New Contract Listing

Business Day immediately following the Last Day of Trading

Max Order Size

200 Contracts

Initial Margin based on SPAN

USD 750 per lot (subject to change)

Calendar Spread Margin

100% benefit is offered on calendar spread margins

Daily Price Movement limit

No Limits*

Note 1*: For the avoidance of ‘fat finger’ errors price band shall be in place. If price breaches the daily price movement limit, trading in particular contract shall continue, with the new trading price range without any cooling period

Product

Contract

Last trading date

Expiry date

Tender Start

Tender End

Delivery Start

Delivery End

DCU

DCU-20170224

24-Feb-2017

24-Feb-2017

27-Feb-2017

27-Feb-2017

27-Feb-2017

27-Feb-2017

DCU

DCU-20170426

26-Apr-2017

26-Apr-2017

27-Apr-2017

27-Apr-2017

27-Apr-2017

27-Apr-2017

DCU

DCU-20170628

28-Jun-2017

28-Jun-2017

29-Jun-2017

29-Jun-2017

29-Jun-2017

29-Jun-2017

DCU

DCU-20170829

29-Aug-2017

29-Aug-2017

30-Aug-2017

30-Aug-2017

30-Aug-2017

30-Aug-2017

DCU

DCU-20171128

28-Nov-2017

28-Nov-2017

29-Nov-2017

29-Nov-2017

29-Nov-2017

29-Nov-2017

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