USD – Russian Ruble Futures
Russian Ruble – United States (USD-RUB) dollar futures contract is a part of the key initiative of the exchange to give access to currencies that are relevant to the region as well as be a one stop shop for emerging market currencies.
The USD-RUB contract is relevant to the region as Russia is one of the largest trade partner of UAE, and lot of investment in UAE come from Russia and CIS. Many Russian companies have large presence in UAE.
- USD-RUB is accessible from 7.00 AM- 11.55 PM UAE time
- Small contract size $50,000 suitable for traders and organizations with smaller exposures
- One of the only regulated platforms offering USD-RUB Futures in GCC
- UAE is a Tax Free jurisdiction ensuring no tax liability arising out of accrued profit
- Overlaps most trading zones including Europe and United States hence any news effecting the RUB markets lies within the time zone
- Ideal location for corporate organizations with exposure to hedge RUB as onshore RUB liquidity availability is difficult
Contract Parameters Contract Symbol DUSDRUB Underlying US Dollar Contract Size USD 50,000 Notional Contract Value 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) Tick Size 0.001 RUB Tick Value 50 RUB Settlement Basis Cash Final Cash Settlement Price Based on the USD-RUB fixing issued by Central Bank of Russia on the last trading day Last Day of Trading 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. Trading Days Monday through Friday Trading Hours 07:00 - 23:55 Hours Dubai time (GMT+4) Trading Months Quarterly Contracts December, March, June, September, at the outset first three Contracts shall be available for trading. New Contract Listing Business Day immediately following the Last Day of Trading Max Order Size 500 lots for Banks and Institutions promoted by Banks Daily Price Movement Limit No price limit (Note 1*) 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. Calendar Spread Margin 100% Calendar Spread benefit Note 1*: For the avoidance of "fat finger" errors, price band shall be 4 RUB from previous settlement price If price breaches the daily price movement limit, trading in particular contract shall continue, with the new trading price range without any cooling period
Product Contract Last trading date Expiry date Tender start date Tender end date Delivery start date Delivery end date DUSDRUB DUSDRUB-20170315 15-Mar-2017 15-Mar-2017 16-Mar-2017 16-Mar-2017 16-Mar-2017 16-Mar-2017 DUSDRUB DUSDRUB-20170615 15-Jun-2017 15-Jun-2017 16-Jun-2017 16-Jun-2017 16-Jun-2017 16-Jun-2017 DUSDRUB DUSDRUB-20170915 15-Sep-2017 15-Sep-2017 18-Sep-2017 18-Sep-2017 18-Sep-2017 18-Sep-2017 DUSDRUB DUSDRUB-20171215 15-Dec-2017 15-Dec-2017 18-Dec-2017 18-Dec-2017 18-Dec-2017 18-Dec-2017