GOLD FUTURES
* Dubai has a longstanding history and an established trade in precious metals. DGCX launched its trading operations with the DGCX gold futures contract. The gold futures contract is based on 1 kilogram of gold (0.995 fineness) which is deliverable at DGCX approved vaults in the United Arab Emirates (UAE).
GOLD FUTURES CONTRACT SPECIFICATION | |
Trading | |
Symbol | DG |
Contract Size | 32 troy ounces. (1 kg) |
Quality Specification | 0.995 purity, as per Dubai Good Delivery Standard |
Trading Months | Feb, Apr, Jun, Aug, Oct and Dec |
Last Trading Day | Business Day immediately preceding sixth Delivery Day |
New Contract Listing | Business day immediately following last trading day |
Price Quote | US$ per troy ounce |
Tick Size | US$ 0.10 (US $ 3.2 per contract) |
Price Movement Limit | US$ 30 - Note 1* |
Max Order Size | 200 contracts |
Trading Days | Monday through to Friday |
Trading Hours | 08:30 - 23:30 Hours Dubai time (GMT+4) |
Wholesale Trades | EFS, EFP, Block trade facilities available |
Margins | |
Initial Margin based on SPAN | US$ 2,500 per contract ( Subject to change) |
Calendar Spread Position 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 Period Margin | US$ 12,500 per contract is applicable during the last six trading days for all open long or short positions that have not been liquidated |
Delivery related information | |
Delivery Unit | 1 Kg (31.99 troy ounces) |
Deliverable Weight | 1 Kilogram cast in one bar |
Deliverable Quality | 0.995 fineness |
Approved CMI / Assayers | Names as listed on the DGCX website |
Approved Refiners | Names as listed on the DGCX website |
Approved Vaults | Names as listed on the DGCX website |
Delivery Period | First through to sixth delivery day of the delivery month |
First Notice Day | Business Day immediately preceding First Delivery Day |
Last Notice Day | Business Day immediately preceding Sixth Delivery Day |
Delivery Process | Compulsory Delivery as allocated by the Exchange on a random basis |
Vault charges | Rates applicable as published on the DGCX website |
Delivery Instrument | Dubai Gold Receipt (i.e. Standard DGR along with validated Refiner¡¯s certificate or CMI-Certified DGR only) |
Note 1*: If price breaches the daily price movement limit, trading in particular contract shall continue, with the new trading price range without any cooling period. |
SILVER FUTURES
* Dubai is also an important geographical location for the Silver industry and international silver trade. The Silver futures contract was second contract launched on DGCX. The contract represents 1,000 troy ounces of silver (0.999 fineness) and is deliverable at DGCX approved vaults in the UAE.
SILVER FUTURES CONTRACT SPECIFICATION | |
Trading | |
Trading Symbol | DS |
Contract Size | 1,000 troy ounces. |
Quality Specification | Min 0.999 purity, as per Dubai Good Delivery Standard |
Trading Months | Mar, Jul, Sep and Dec |
Last Trading Day | Fifth Delivery Day of the Delivery Month |
New Contract Listing | Business Day immediately following Last Trading Day of Expiring Contract |
Price Quote | US$ quoted in Cents per troy ounce |
Tick Size | US$ 0.5 (US $5 per contract) |
Price Movement Limit | US$ quoted in Cents - 75 Cents - Note 1* |
Max Open Position Limit | As determined and specified by the Exchange |
Max Order Size | 200 contracts |
Trading Days | 08:30 - 23:30 Hours Dubai time (GMT+4) |
Trading Hours | M/F 08:30 - 23:30 Hrs |
Wholesale Trades | EFS, EFP, Block trade facilities available |
Margins | |
Initial Margin based on SPAN | US$ 2,700 per contract (subject to change) |
Calendar Spread Position Margin | Depending upon each class of asset, spread position margin (Calendar spread margin) is charged using SPAN framework. In case of Silver, 100% benefit is offered on calendar spread position |
Extra Margin | In case of additional volatility, an Extra Margin as deemed fit by the Exchange; may be imposed on all open positions |
Delivery Period Margin | US$ 13,500 per contract is applicable during the last six trading days for all open long or short positions that have not been liquidated |
Delivery & Cash Settlement related information | |
Delivery Unit | 30 Kg |
Deliverable Weight | 30 Kilograms cast in one bar of 1,000 troy ounces (10% more or less) |
Deliverable Quality | Minimum 0.999 fineness - Note 2* |
Approved CMI / Assayers | Names as listed on the DGCX website |
Approved Refiners | Names as listed on the DGCX website |
Approved Vaults | Names as listed on the DGCX website |
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 | Compulsory Delivery as allocated by the Exchange on a random basis |
Vault charges | Rates applicable as published on the DGCX website |
Delivery Instrument | Dubai Gold Receipt (i.e. Standard DGR along with validated Refiner¡¯s certificate or CMI-Certified DGR only) |
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 Silver cash settlement rice declared by the Exchange |
Silver Cash Settlement Price | Silver Cash Settlement Price shall be the London Silver Fixing Price (expressed in US Dollars per troy ounce) of The London Silver Market Fixing Limited published by The London Bullion Market Association (LBMA) on the Last Day of Trading |
Note 1*: If price breaches the daily price movement limit, trading in particular contract shall continue, with the new trading price range without any cooling period Note 2*: If Silver of higher fineness is delivered, no premium shall be paid. |