COPPER 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).
| Trading | |
| Symbol | DCU |
| Contract Size | 5 MT |
| Underlying Asset | DGCX Copper Futures |
| Pricing | |
| Price Quote | US$ per MT |
| Minimum Tick Size | US$ 0.50 per MT (US$ 2.50 per contract) |
| Daily Price Movement Limit | No Limit - Note 1* |
| Final Cash Settlement Price Basis | 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. |
| Quality Specification | Grade 1Electrolytic Copper Cathodes (full plate or cut) conforming to the American Society for Testing and Materials (B115-00), or its latest revision. |
| Trading Months | March, May, July, September, December. Minimum five (5) Contracts shall be listed for trading at all time |
| Trading Days | Monday through Friday |
| Trading Hours | 07.00 ¨C 23.30 hrs |
| Last Trading Day | Third last Business Day preceding the Delivery Month |
| New Contract Listing | Business Day immediately following the Last Day of Trading |
| EFP / EFS/Block Trades | As per DGCX By-Laws Minimum Block size permitted is 200 contracts |
| Time Limit for EFP/EFS/Block Trade Registration | Up to 15 minutes after cessation of trading on any Trading Day. |
| Position Limits | |
| Max Open Position Limit | As determined by the Exchange from time to time |
| Max Order Size | 200 contracts |
STEEL FUTURES
DGCX Steel Rebar Futures Contract, launched in 2007, is the first such contract to be listed as internationally accessible steel futures in the world. The contract is for 10 metric tons of Steel Rebar.
| STEEL REBAR FUTURES CONTRACT SPECIFICATION | |
|---|---|
| Trading | |
| Symbol | DSTL |
| Contract Size | 10 tonnes |
| Underlying Asset | Prime weldable steel reinforcement bar (rebar) |
| Quality Specification | BS 4449 (1997) W 460 B Type 2 |
| Delivery Months | Monthly for four months forward |
| Last Trading Day | First Thursday of delivery month. If first Thursday is a holiday then preceding trading day |
| New Contract Listing | Business day immediately following the last trading day |
| Price Quote | US$ per tonne |
| Tick Size | US$ 1 per tonne (US$ 10 per contract) |
| Max Order Size | 100 contracts |
| Trading Days | Monday through to Friday |
| Trading Hours | 10:00 - 18:00 Hours Dubai time (GMT+4) |
| Wholesale Trades | EFS, EFP, Block trade facilities available |
| Margins | |
| Initial Margin based on SPAN | US$ 600 per contract (subject to change) |
| Calendar Spread Margin | 50% benefit is offered on calendar spread positions. |
| Extra Margin | At times of high volatility, an extra margin, as deemed fit by the Exchange, may be charged. |
| Delivery Period Margin | During the last four days of trading the front contract a minimum Delivery Margin of US$ 1,200 per lot shall be applied. |
| Delivery related information | |
| Delivery Unit | 10 tonnes |
| Delivery Tolerance | All 10 tonnes must adhere to piece counts and theoretical weights prescribed above. No deviation or delivery tolerance is permitted. |
| Approved CMI | As approved by DGCX |
| Approved DCR Issuer | As approved by DGCX |
| Approved Producers | As approved by DGCX |
| Delivery Period | The four Trading Days following the Last Trading Day |
| Notice Day | Last Trading Day of the respective contract |
| Delivery Process | Compulsory delivery as allocated by the Exchange on a random basis |
| Alternative Delivery Procedure | Available in accordance with DGCX By-Laws K. 13 |
| Delivery Instrument | Dubai Commodity Receipt (DCR) with accompanying Mill Test Certificate per lot |