Trading
Specifications
Parameters
Contract Symbols
DUSDRUB
Underlying
US Dollar
Contract Size
USD 50,000
Trading Currency
Russian Ruble (RUB)
Settlement Currency
US Dollars (USD)
Price Quote
RUB for 1 USD (e.g. RUB 49.001 / 49.002 Per 1 USD)
Minimum Tick Size
0.001 RUB
Tick Value
50 RUB
Trading Days
Monday through Friday
Trading Hours
DGCX Trading Hours
Trading Months
Quarterly Contracts December, March, June, September, at the outset first three Contracts shall be available for trading.
Last Trading Day
15th day of the expiry month, except where that day is a bank holiday in either Dubai or Moscow, in which case the Last Day of Trading shall be the following Business Day that is not a bank holiday in either Dubai or Moscow.
New Contract Listing
Business Day immediately following the Last Day of Trading
Daily Variation Margin (VM) payment
From Trading Currency to Settlement Currency
Based on Spot Prices available for USD/RUB at the end of DGCX Trading Hours
Final VM payment
From Trading Currency to Settlement Currency
Based on the USD-RUB fixing issued by Moscow Exchange (MOEX) on the last trading day
Final Cash Settlement Price Basis
Based on the USD-RUB fixing issued by MOEX on the last trading day
Settlement Basis
Cash
Wholesale Trades
EFS, EFP, Block trade facilities available
Daily Price Movement Limit
No price limit (for the avoidance of ‘fat finger’ errors price band shall be 1.00 RUB from previous settlement price e.g. if previous settlement price is RUB 49.001/US$ then the price band is from 48.001 to 50.001)
Maximum Order Size
500 lots for Banks and Institutions promoted by Banks
All other entities 200 lots
Initial Margin based on SPAN
The Initial Margin will be denominated in RUB and the same shall be converted into equivalent USD at the prevalent Spot market rate of USD/RUB to display Initial Margin Utilization in USD terms.
At the outset, Initial Margin shall be RUB 120,000 subject to change.
Indicative VM
Indicative VM on EOS-Clear will be displayed in USD as per the prevalent spot market rate for USD/RUB
DCCC shall update the spot rates for USD/RUB intraday for at least 3 times at 0600 hrs, 1500 hrs and End of DGCX Trading Hours
Calendar Spread Benefit
100% Calendar Spread benefit
Extra Margin
At times of high volatility, an extra margin, as deemed fit by the DCCC, may be charged
Delivery Period Margin
Not applicable
Spot rate
Shall be taken from available market data sources like Bloomberg and Reuters.