A Future contract is an agreement (contract), facilitated by an exchange, to buy or sell a particular commodity or financial instrument at a pre-determined price in the future.

Futures contracts detail the quality and quantity of the underlying asset; they are standardised to facilitate trading on a futures exchange. Some Futures contracts may call for physical delivery of the asset, while others are settled in cash.

Trust Securities DMCC offers the following commodities and currency Futures, which are all denominated in US dollars:


Commodities:



Gold Future

Trust Securities DMCC gives you access to a historically established precious metals market place. Our 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).

Contract Specification - Gold Future

Symbol: DG 1

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


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



Initial Margin based on SPAN: US$ 1,100 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$ 5,500 per contract is applicable during the last six trading days for all open long or short positions that have not been liquidated

Symbol: DG 1

Contract Size: 32 troy ounces. (1 kg)

Last Updated on Monday, 01 August 2011 10:07
 


Silver Future

Trust Securities DMCC also gives you access to one the most important silver industry hubs of the world. Our contract represents 1,000 troy ounces of silver (0.999 fineness) and is deliverable at DGCX approved vaults in the UAE.

Contract Specification - Silver Future

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

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

Initial Margin based on SPAN: US$ 2,600 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$ 13,000 per contract is applicable during the last six trading days for all open long or short positions that have not been liquidated

 

Last Updated on Monday, 01 August 2011 13:58
 


WTI Crude oil/ Brent Crude oil

Trust Securities DMCC provides you with access to the worlds 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.

Light, sweet crudes are preferred by refiners because of their low sulfur content and relatively high yields of high-value products such as gasoline, diesel fuel, heating oil, and jet fuel. Crude oil is one of the world's most widely used commodities and is amongst the most liquid futures contract. Crude oil refers to petroleum in its raw form and it becomes useful after refining, which produces numerous oil-based component products, including petroleum gas, diesel, lubricants, heating oil, lubricating oils, aviation gasoline and asphalt among others. WTI, also known as Texas Light Sweet is a type of light crude, lighter and sweeter than Brent Crude. Its properties and production site makes it ideal for being refined in the United States, mostly in the Midwest and Gulf Coast regions. Brent crude oil is named after the Brent oil field in the North Sea, off the coast of Britain.

Contract Specification - Brent Crude Oil Futures

Symbol: DBRC

Underlying Asset: DGCX Brent Crude Oil Futures

Contract Size: 1,000 barrels (42,000 gallons)

Price Quote: US Dollars and Cents per barrel

Minimum 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 Brent Crude Oil futures as made public by ICE for the last day of trading of the DGCX front month contract

Delivery Months: 12 consecutive months plus 10 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: 08:30 - 23:30 Hours Dubai time (GMT+4)

Last Day of Trading: Last Day of Trading shall be the second UK business day immediately preceding the 15th day prior to the first day of the Delivery Month; if such 15th day is a banking day in London. If the 15th day is a non-banking day in London (including Saturday), trading shall cease on the second UK business day immediately preceding the first UK business day that precedes the 15th day. If the second UK 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 following 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 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

Max Open Position Limit: No Limits

Max Order Size: 500 Contracts


Initial Margins: US$ 4,000 per contract (subject to change)

Calendar Spread Margin: 100% 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

Last Updated on Monday, 01 August 2011 14:03
 


Fujairah Fuel Oil

The Arabian Gulf has tremendous liquidity in fuel oil in terms of both freely traded import/export volumes and bunkers traded in Fujairah, the world's second largest bunker market (12 million tonnes per annum). The volumes traded in the Gulf markets are forecast to continue growing substantially over the next decade.

Contract Specification - Fujairah Fuel Oil Futures

Symbol: DFO

Contract Size: 100 Tonnes

Quality Specification: High Sulphur Fuel Oil 380CST (4.5% Sulphur)

Trading Months: Six consecutive months

Last Trading Day: Last business day of the month preceding the delivery month

New Contract Listing: Business day immediately following the last trading day

Price Quote: US$ per Tonnes, Ex-Wharf Fujairah

Tick Size: US$ 0.01 per Tonnes (US$ 1 per contract)

Daily Price Limit: $25 per Tonne

Maximum Open Position Limit: As specified by the Exchange

Maximum Open Position Limit: for Near Month Contract 20,000 Metric Tonnes applicable during the last four trading days of the Contract Month

Trading Days: Monday through to Friday

Trading Hours: 08:30 - 19:00 Hours Dubai time (GMT+4) (except on the last trading day of every month where 08:30 - 17:00 hrs)

Trading Hours: on Last Trading Day of every month 08:30 - 17:00 hrs (applicable to all contract months)

Wholesale Trades: EFS, EFP, Block trade facilities available



Initial Margin: US$ 1,500 per contract (subject to change)

Near Month Contract Margin: As determined by the Exchange and applicable during the last 10 trading days across all open positions. Minimum Near Month Contract Margin shall be US$ 7500

Calendar Spread Margin: US$ 240 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: Five times the initial margin

Last Updated on Monday, 01 August 2011 14:08
 



Steel Rebar Futures

Steel rebar (short for reinforcing bar), also known as reinforcing steel, reinforcement steel, is a common steel bar, which is commonly used as a tensioning device in reinforced concrete and reinforced masony structures holding the concrete in compression. It is usually formed from carbon steel, and is given ridges for better mechanical anchoring into the concrete.

Contract Specification - Steel Rebar Fututres

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

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.

 

Last Updated on Monday, 01 August 2011 14:11
 





Trust Securities DMCC enables you access a host of exotic Future contracts exclusively available from the Dubai Gold & Commodities Exchange (DGCX).

DGCX is the only exchange in the Middle East to offer currency Futures contracts. The exchange offers seven currency Futures, paired to the US Dollar: Australian Dollar, Canadian Dollar, Euro, British Sterling, Indian Rupee, Japanese Yen and Swiss Franc.

“The Indian Rupee futures contract was the first of its kind in the world when it launched in 2007. Today, it remains the only Rupee/Dollar contract tradable outside of India and available to international participants. The contract is cash settled based on US Dollar reference rate published by the Reserve Bank of India, providing alignment with the domestic rate”

Contract Specification

Euro-Dollar


Symbol: DEUR

Contract Size: € 50,000

Trading Months: Mar, Jun, Sep and Dec

Last Trading Day: 2 Business days before 3rd Wednesday of Expiry month

Settlement Day: 3rd Wednesday of Expiry Month

New Contract Listing: Business day immediately following the last trading day

Price Quote: US$ quoted in Cents per €

Tick Size: US$ 0.0001 per € or US$ 5 per tick

Trading Days: Monday through to Friday

Trading Hours: 08:30 - 23:30 Hours Dubai time (GMT+4)

Maximum Order Size: 500 lots for Banks and institutions promoted by Banks. All other entities 200 Lots

Price Limit: No Price Limits - Note 1*

Wholesale Trades: EFS, EFP, Block trade facilities available



Initial Margin based on SPAN: US $ 1,500 per contract (subject to change)

Calendar Spread Margin" 100% benefits is offered on calendar spread positions

Spread Position Margin: Nil on matched positions

Extra Margin: At times of high volatility, an extra margin, as deemed fit by the Exchange, may be charged

Delivery Period Margin: Five times the initial Margin

Last Updated on Monday, 01 August 2011 14:17
 

Sterling Futures

Symbol: DGBP

Contract Size: £ 50,000

Trading Months: Mar, Jun, Sep and Dec

Last Trading Day: Two Business days before third Wednesday of expiry month

Settlement Day: Third Wednesday of expiry month

New Contract Listing: Business day immediately following the last trading day

Price Quote: US$ quoted in Cents per £

Tick Size: US$ 0.0001 per £ or US$ 5 per tick

Trading Days: Monday through to Friday

Maximum Order Size: 500 lots for Banks and institutions promoted by Banks. All other entities 200 Lots

Price Limit: No Price Limits - Note 1*

Wholesale Trades: EFS, EFP, Block trade facilities available



Initial Margin based on SPAN: US $ 1,200 per contract (subject to change)

Calendar Spread Margin: 100% benefits is offered on calendar spread positions

Spread Position Margin: Nil on matched positions

Extra Margin: At times of high volatility, an extra margin, as deemed fit by the Exchange, may be charged

Delivery Period Margin: Five times the initial Margin

Last Updated on Monday, 01 August 2011 14:20
 

Indian Futures

Symbol: DINR

Contract Size: INR 2,000,000

Delivery Months: Monthly contracts for twelve months forward

Last Trading Day: Two Business Days prior to the last working day of the contract month

Settlement Day: The Business Day immediately following the last day of expiring contract

New Contract Listing: Business day immediately following the last trading day

Price Quote: US$ quoted in Cents per 100 Indian Rupees ( e.g. 209.56 /209.62 US Cents per 100 Indian Rupees)

Tick Size: US$ 0.000001 per INR or US$ 2 per tick

Trading Days: Monday through to Friday

Trading Hours: 08:30 - 23:30 Hours Dubai time (GMT+4)

Maximum Order Size: 500 lots for Banks and institutions promoted by Banks. All other entities 200 Lots

Price Limit: No Price Limits - Note 1*

Wholesale Trades: EFS, EFP, Block trade facilities available

Cash Settlement Price Basis: Open Positions at expiry of contract shall be settled in US Dollars as per the Dialy Settlement Price (DSP) declared by the Exchange.

The DSP would be based on the official US Dollar reference rate issued by the Reserve Bank of India, based on bank rates in Mumbai at 12 noon on the day of trading or earliest available date

Initial Margin based on SPAN: US $ 400 per contract (subject to change)

Calendar Spread Margin: 100% benefits is offered on calendar spread positions

Spread Position Margin: Nil on matched positions

Extra Margin: At times of high volatility, an extra margin, as deemed fit by the Exchange, may be charged

Delivery Period Margin: Not applicable

Last Updated on Monday, 01 August 2011 14:23
 

Japanese Yen Futures



Symbol : DJPY

Contract Size: ¥ 5,000,000

Trading Months: Mar, Jun, Sep and Dec

Last Trading Day: Two Business days before third Wednesday of expiry month

Settlement Day: Third Wednesday of Expiry Month

New Contract Listing: Business day immediately following the last trading day

Price Quote: US$ quoted in Cents per 100 ¥

Tick Size: US$ 0.000001 per ¥ or US$ 5 per tick

Trading Days: Monday through to Friday

Trading Hours: 08:30 - 23:30 Hours Dubai time (GMT+4)

Maximum Order Size : 500 lots for Banks and institutions promoted by Banks. All other entities 200 Lots

Price Limit : No Price Limits - Note 1*

Wholesale Trades : EFS, EFP, Block trade facilities available

Initial Margin based on SPAN: US $ 1,200 per contract (subject to change)

Calendar Spread Position Margin: 100% benefits is offered on calendar spread positions

Spread Position Margin : Nil on matched positions

Extra Margin : At times of high volatility, an extra margin, as deemed fit by the Exchange, may be charged

Delivery Period Margin : Five times the initial Margin


Last Updated on Monday, 01 August 2011 14:27
 

Australian Futures



Symbol: DAUD

Contract Size: AUD 50,000

Trading Months: Mar, Jun, Sep and Dec

Last Trading Day: Two Business days before third Wednesday of expiry month

Settlement Day: Third Wednesday of Expiry Month

New Contract Listing: Business day immediately following the last trading day

Price Quote: US$ quoted in Cents per AUD

Tick Size: US$ 0.0001 per AUD or US$ 5 per tick

Trading Days: Monday through to Friday

Trading Hours: 08:30 - 23:30 Hours Dubai time (GMT+4)

Maximum Order Size: 500 lots for Banks and institutions promoted by Banks. All other entities 200 Lots

Price Limit: No Price Limits - Note 1*

Wholesale Trades: EFS, EFP, Block trade facilities available



Initial Margin based on SPAN: US $1,000 per contract (subject to change)

Calendar Spread Margin: 100% benefits is offered on calendar spread positions

Spread Position Margin: Nil on matched positions

Extra Margin: At times of high volatility, an extra margin, as deemed fit by the Exchange, may be charged

Delivery Period Margin: Five times the initial Margin

 

Last Updated on Monday, 01 August 2011 14:35
 

Canadian Futures

Symbol: DCAD

Contract Size: CAD 50,000

Trading Months: Mar, Jun, Sep and Dec

Last Trading Day: Business days before third Wednesday of expiry month

Settlement Day: Third Wednesday of Expiry Month

New Contract Listing: Business day immediately following the last trading day

Price Quote: US$ quoted in Cents per CAD

Tick Size: US$ 0.0001 per CAD or US$ 5 per tick

Trading Days: Monday through to Friday

Trading Hours: 08:30 - 23:30 Hours Dubai time (GMT+4)

Maximum Order Size: 500 lots for Banks and institutions promoted by Banks. All other entities 200 Lots

Price Limit: No Price Limits - Note 1*

Wholesale Trades: EFS, EFP, Block trade facilities available



Initial Margin based on SPAN: US $900 per contract (subject to change)

Calendar Spread Margin: 100% benefits is offered on calendar spread positions

Spread Position Margin: Nil on matched positions

Extra Margin: At times of high volatility, an extra margin, as deemed fit by the Exchange, may be charged

Delivery Period Margin: Five times the initial Margin

Last Updated on Monday, 01 August 2011 14:45
 

Swiss Franc Futures

Symbol: DCHF

Contract Size: CHF 50,000

Trading Months: Mar, Jun, Sep and Dec

Last Trading Day: Two Business days before third Wednesday of expiry month

Settlement Day: Third Wednesday of Expiry Month

New Contract Listing: Business day immediately following the last trading day

Price Quote: US$ quoted in Cents per CHF

Tick Size: US$ 0.0001 per CHF or US$ 5 per tick

Trading Days: Monday through to Friday

Trading Hours: 08:30 - 23:30 Hours Dubai time (GMT+4)

Maximum Order Size: 500 lots for Banks and institutions promoted by Banks. All other entities 200 Lots

Price Limit: No Price Limits - Note 1*

Wholesale Trades: EFS, EFP, Block trade facilities available



Initial Margin based on SPAN: US $ 1,000 per contract (subject to change)

Calendar Spread Margin: 100% benefits is offered on calendar spread positions

Spread Position Margin: Nil on matched positions

Extra Margin: At times of high volatility, an extra margin, as deemed fit by the Exchange, may be charged

Delivery Period Margin: Five times the initial Margin

Last Updated on Monday, 01 August 2011 14:49