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Commodities Futures

Commodities Futures

DGCX offers futures contracts on the world’s two leading energy benchmarks: Brent and West Texas Intermediate Light Sweet crude oil. Both contracts are cash settled and thus involve no delivery risk. They are available for trading to regional and international market participants. The DWTI contract is sized at 1,000 barrels, with the contract price quoted in U.S. dollars and cents per barrel. The minimum price fluctuation will be one cent per barrel, equivalent to a tick value of $10.00.

The DBRC contract is sized at 1,000 barrels, with the contract price quoted in U.S. dollars and cents per barrel. The minimum price fluctuation will be one cent per barrel, equivalent to a tick value of $10.00.

Trading
Symbol DWTI
Underlying Asset DGCX West Texas Intermediate Light Sweet Crude Oil Futures
Contract Size 1,000 barrels (42,000 gallons)
Price Quote US Dollars and Cents per barrel
Tick Size US$ 0.01 per barrel (US$ 10 per tick)
Daily Price Movement Limit No Limit – Note 1*
Note 1*: 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 higher or lower than US$ 3 as compared to the Previous Close Price. Exchange shall relax the intra-day price range for the prices of the contract approaching the US$ 3 limit
Price Basis Cash Only Settlement Contract
Final Cash Settlement Price The front month settlement price for WTI Crude Oil futures as made public by NYMEX for the Last Day of Trading of the DGCX front month contract
Delivery Months Twelve consecutive months plus ten contract months consisting of June and December months will be listed for an additional five calendar years
Trading Day Monday through to Friday
Trading Hours 07:00 – 23:30 Hours Dubai time (GMT+4)
Last Day of Trading Last Day of Trading shall be the fourth US business day prior to the 25th calendar day of the month that precedes the Delivery Month. If the 25th calendar day is not a US business day; Last Day of Trading shall be the fourth US business day prior to the US business day that precedes the 25th calendar day. If the fourth US business day is not a DGCX Business Day, then the preceding DGCX Business Day shall be the Last Day
of Trading
Cash Settlement Day The Business Day folloing the last day of trading
New Contract Listing Business day immediately following the last trading day
EFP / EFS / Block Trades As per DGCX By-Laws. Minimum Blcok 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
Trading
Underlying Polypropylene
 Trading Unit ( 1 lot)  5 metric tonnes per contract
 Quality Specification 

 

 General Purpose Fibre (raffia) extrusion grade
Parameter Test Method Values
Melt Flow Rate(g/10Min 230C/2.16 kg) ISO 1133 2.5-4.0
Tensile Yield Stress ISO 527 29 Minimum
FDA Status 21CFR 177.1520 (c) 1.1 Compliant
EU Food Contact Status EU Directive 2002/72/EC and its amendments Compliant
Dubai World Central or Jebel Ali Free Trade Zone Delivery
Material must be free from contaminants and consistent with industry best practice
Material must be free flowing clean cut pellets suitable for use in both volumetric and gravimetric feeders
Without Additives other than the producer’s standard anti-oxidant and acid neutralizer package
 Trading Months Up to 12 calendar months at any one time
 Trading Days Monday through Friday
Last Day of Trading 10th Trading Day of the Delivery Month
 New Contract Listing First Trading Day after the Last Trading Day
 Trading Hours 7am – 1pm Dubai Time
 Wholesale Trades EFS, EFP, Block trade facilities available with minimum permitted block size of 50 lots
 Price Quote USD per MT
 Minimum Tick USD 1.00
 Minimum Tick Value USD 5.00
 Calendar Spread Calendar Spread of Jan-May, May-Sep and Sep-Jan will be available for trading
Delivery Type & Minimum Delivery Unit Compulsory Delivery. In Multiples of 5 Trading lots on both Buyers and Sellers. Note 1*
 Price Basis In warehouse (INWH), Duty unpaid at DGCX Approved Warehouse Delivery at Seller’s option
 First Notice Day 1st Trading Day of the Delivery Month
 Delivery Day Two Business Days after Notice Day
 Daily Price Limit  No Limit Note 2*
 Margins  USD250 (subject to change from time to time by the DCCC)
Delivery Period Margin 10 times of the Initial Margin
 Calendar Spread Margin  100% benefits is offered on calendar spread positions
Delivery Instrument  Warrant 
Last Notice Day Last Day of Trading
Delivery Notices During the Notice Day, Sellers must submit Delivery Notice, indicating:  

  • Clearing Member, Trading Member and Client code
  • The Contract(s) against which delivery is to be made (including the number of lots making up the parcel(s))
  • In respect of each parcel, the Warrant reference, or, as a minimum:
    • the delivery location
    • the details of the lot to be delivered
    • such other information as may be prescribed
Documents 
  • A copy of the producer’s Certificate of Analysis for every production batch making up the lot, duly evidencing that each lot is fully traceable, must accompany every lot delivered into a DGCX Approved Warehouse. The Certificate of Analysis must state the producer, grade, batch number and test results for the batch  
  • A certificate of origin issued by the producer specifying the country of origin of the lot
  • A material safety data sheet issued by the producer containing safety information regarding the handling of the PP
Delivery Tolerance 
  • Weight tolerance of +/-0.8% on standard Delivery Unit of 24.75 tonnes 
  • The net weight and number of torn bags within each lot shall be documented
Packaging
  • Each delivery unit shall consist of 990 x 25 kg bags comprising 18 pallets each carrying 55 such bags stacked symmetrically in 11 layers of 5 bags per layer  
  • Each pallet shall be shrink or stretch wrapped and covered with a plastic hood 
  • All pallets shall be in good condition without protrusions of nails, screws, large splinters or other sharp objects
  • Each bag shall be marked indelibly with the producer’s name, brand, grade and batch number and the net weight of PP within the bag
  • Torn bags shall have been repaired with suitable adhesive tape in a colour that enables such bags to be readily identified. 
Production batches
  • Each Delivery Unit shall consist of no more than 2 production batches 
Polymer age and delivery time
  • PP must have been produced no more than 17 months prior to the Delivery Day and arrived at the Approved Warehouse for no longer than 6 months after production date
Delivery Allocation Information  Prior to 0600 hrs on the Business Day following the Notice Day(s), the DCCC notifies both Seller and Buyer of their matching, stating the allotted quantities specific grades (and theoretical weights), Settlement Value, Delivery location, and Delivery Day. 
Delivery Prompt One Business Day after the Notice Day(s); prior to 1200 hrs Dubai time, DGCX prompts Sellers of the necessity to acquire valid Warrant against their positions 
Day Before Delivery Day  Prior to 1200 hrs, the DCCC can be advised of an ADP
Day of Delivery  Prior to 1200 hrs on the Delivery Day, Seller transfers warrant for delivery to the designated delivery Account
Provisional Settlement Value The amount invoiced to the Buyer is basis nominal (Unit: 25 tonnes) 
Pay-in of Fundsi.e. Buyer makes payment Prior to 1200 hrs on Delivery Day, Buyer makes payment of the Provisional Settlement Value, adjusted to cater for release of Delivery Margin  
Settlement Value  The amount paid to the Seller based upon the actually delivered quantity
Pay-out of Commodities i.e. Transfer of Title After 1500 hrs on the Delivery Day, DCCC transfer endorses Warrant in favor of Buyer
Pay-out of Fundsi.e. Seller receives payment After 1500 hrs, DCCC makes payment to Seller
Delivery Value Adjustment On the Delivery Day after 1500 hrs any difference between the Provisional Settlement Value and the Settlement Value is reimbursed to the Buyer
 
Note 1*: The delivery will be in multiple of 5 lots. Open positions less than Delivery Units on both sellers and buyers will be financially settled using the Final Settlement Price. Should one side fulfil the minimum Delivery Unit while the counterparty did not meet the minimum Delivery Unit, it will be financially settled using the Final Settlement Price.   Note 2*: 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 higher or lower than US$50 as compared to the previous closing price. Exchange shall relax the intra-day price range for the prices of the contract approaching the US$50 limit
Contract
Mini Dubai Polypropylene for Middle East Delivery
Trading
Underlying Polypropylene (PP)
Contract Symbol DPPMM
Contract Size 5 tonnes per contract
Quality Specification General Purpose Fibre (Raffia) extrusion graderaffia
Parameter Test Method Values
Melt Flow Rate (g/10Min 230C/2.16 kg) ISO 1133 2.5-4.0
Tensile Yield Stress ISO 527 29 Minimum
FDA Status 21CFR 177.1520 (c) 1.1 Compliant
EU Food Contact Status EU Directive 2002/72/EC and its amendments Compliant
Dubai World Central or Jebel Ali Free Trade Zone Delivery
Material must be free from contaminants and consistent with industry best practice
Material must be free flowing clean cut pellets suitable for use in both volumetric and gravimetric feeders
Without Additives other than the producer’s standard anti-oxidant and acid neutralizer package
Price Quote USD per tonne
Minimum Tick Size USD 1.00
Minimum Tick Value USD 5.00
Price Basis In warehouse (INWH), duty unpaid at DGCX Approved Warehouse delivery at seller’s option
Delivery Months Up to 12 calendar months at any time
Trading Days Monday through Friday
Trading Hours 0700- 1500hours Dubai Time
Last Day of Trading Three Trading Days Prior to the Delivery Month
Wholesale Trades EFS, EFP, Block trade facilities available with minimum permitted block size of 50 lots
Time Limit for EFP/EFS/Block Trade Registration Up to 15 minutes after cessation of trading on any Trading Day
New Contract Listing Business Day immediately following the Last Trading Day
Risk Management
Daily Price Movement Limit No Limit, Note 1*
Initial Margin based on SPAN USD 200 (subject to change from time to time)
Calendar Spread Margin 100% benefit is offered on calendar spread positions
Maximum Open Position Limit As determined by the Exchange from time to time
Maximum Order size 200 Contracts
Delivery
Delivery Type Financial Settlement
Final Settlement Price The Final Settlement Price Methodology shall be derived from the conditions listed below on the underlying 25MT contract: (a) Value Weighted Average Price (VWAP) of all trades executed in last 10 minutes of the Last Trading Day

(b) If no trades have been executed in the last 10 minutes, the VWAP   of last 15 trades executed during the Last Trading Day provided 15 trades are executed

(c) If 15 trades have not occurred, the VWAP of all trades executed during the Last Trading Day

(d) Where   there are no trades executed   during Last Trading Day,   the price midway between outright bids and offers during the last 10 minute period

Sr.
Commodity
Minimum Initial Margin
Calendar Spread Benefit
Tender / Delivery Margin
1 Gold $ 1,200 per contract 100% $ 6,500 per contract
2 India Gold “Quanto” $ 950 per contract 100% No Tender Margin
3 Silver $ 700 per contract 100% $ 4,500 per contract
4 Euro $ 1,100 per contract 100% No Tender Margin
5 Sterling Pound $ 1,000 per contract 100% No Tender Margin
6 Japanese Yen $ 900 per contract 100% No Tender Margin
7 Indian Rupee $ 600 per contract 100% No Tender Margin
8 Indian Rupee “Quanto” $ 120 per contract 100% No Tender Margin
9 Mini Indian Rupee $ 60 per contract 100% No Tender Margin
10 Australian Dollar $ 800 per contract 100% No Tender Margin
11 Canadian Dollar $ 600 per contract 100% No Tender Margin
12 Swiss Franc $ 1,500 per contract 100% No Tender Margin
13 WTI Light Sweet Crude Oil $ 3,000 per contract 100% No Tender Margin
14 Mini Polypropylene (PP) $ 200 per contract 100% No Tender Margin
15 Polypropylene (PP) $ 1,000 per contract 100% $ 10,000 per contract
16 Copper $ 1,000 per contract 100% No Tender Margin
17 SENSEX $ 900 per contract 100% No Tender Margin
18 MSCI India (INR, PRICE) Index $ 900 per contract 100% No Tender Margin
19 MSCI India (USD, NTR) Index $ 1,100 per contract 100% No Tender Margin
20 Mini INR Euro Euro 120 per contract 100% No Tender Margin
21 Mini INR GBP GBP 100 per contract 100% No Tender Margin
22 USD/RUB RUB 115,000 per contract 100% No Tender Margin
23 USD/KRW KRW 875,000 per contract 100% No Tender Margin
24 USD/ZAR ZAR 13,000 per contract 100% No Tender Margin