The index is based on the MSCI Global Investable Indexes (GIMI) Methodology—a comprehensive and consistent approach to index construction that allows for meaningful global views and cross regional comparisons across all market capitalization size, sector and style segments and combinations. This methodology aims to provide exhaustive coverage of the relevant investment opportunity set with a strong emphasis on index liquidity, investability and replicability.
The index is reviewed quarterly—in February, May, August and November—with the objective of reflecting change in the underlying equity markets in a timely manner, while limiting undue index turnover. During the May and November semi-annual index reviews, the index is rebalanced and the large and mid capitalization cutoff points are recalculated.
Contract Features
- Broad India market exposure with a single trade
- US $ denominated; cash settled
- Tax Free- No STT, Zero Capital Gains tax
- Trade India outside India market hours
- Efficient margining for optimal leverage
- Competitive Transaction costs
- Block Trade facility available
Contract Uses
- Hedge your Indian equity portfolio
- Replicate your macro India view offshore
- Trade Volatility of Indian stocks
- Trade Calendar spreads
- Profit from price anomalies of highly correlated contracts
Contract Specifications
Contract | Parameters |
Contract Type | Future |
Contract Name | MSCI India Futures (INR, PRICE) |
Contract Symbol | DMSI |
Underlying | MSCI India (INR, PRICE) Index |
Contract Size | 25 Index Points |
Notional Contract Value | 25 x price |
Trading Currency | USD |
Settlement Currency | USD |
Price Quote | US $ |
Tick Size | 0.5 |
Tick Value | US$ 12.50 |
Settlement Basis | Cash Settled |
Final Cash Settlement Price (FCSP) | FCSP is based on the closing price of the MSCI (INR, PRICE) published by MSCI on Last Trading Day, rounded to the nearest tick |
Last Trading Day (LTD) | Last Thursday of the calendar month |
Trading Days | Exchange Business Days* |
Trading Hours | 07:00 – 23:55 Hours Dubai time |
Trading Months | Monthly contracts for three months forward plus one quarterly contract (e.g. Jan, Feb, Mar and Jun) |
New Contract Listing | Business Day immediately following the Last Trading Day |
Max Order Size | 200 Lots |
Wholesale Trades | Block Trade minimum size threshold: 50 lots. EFP/EFS also available. Trades must be submitted 15 minutes after execution |
No Cancellation Range | See link: www.dgcx.ae/price-limits |
*See Exchange By-Laws Part P
Contract Calendar
Expiry Month | Expiry Code | Last Trading Day |
---|---|---|
Dec'19 | DMSI-20191226 | 26-Dec-19 |
Jan'20 | DMSI-20200130 | 30-Jan-20 |
Feb'20 | DMSI-20200227 | 27-Feb-20 |
Mar'20 | DMSI-20200326 | 26-Mar-20 |