Brent Crude Oil
DGCX Brent Crude Oil Futures (DBRC) will allow DGCX participants to trade in the biggest Crude Oil benchmarks globally. Linking up the European referenced market to that of the Americas in WTI. The use of DBRC as a reference pricing mechanism extends far beyond the UK, Europe and other regional markets. The product design of DBRC brings one of the most heavily traded energy products to the DGCX. Alongside WTI, DBRC pricing accounts for over 50% of global supply, with price movements having an impact on prices in territories as far afield as the Middle East, China and the Americas.
Paired with the DGCX’s existing Hydrocarbons portfolio, the DBRC futures contract draws a greater appeal to existing contracts on other exchanges which are of a differing specification. The DBRC contract will help facilitate price discovery by new and existing market participants, offering protection and hedging opportunities to an increasingly motivated trading community.
- Trade your views, tax free on the Brent Crude Oil Futures market
- Arbitrage opportunity with global commodity exchanges as well as existing DGCX WTI Futures contracts.
- Low cost structure with 80% trading margin offset against the major DGCX WTI and Mini WTI Futures contract.
- 100% trading margin credit on calendar spreads.
- Greater access to international energy markets with clear, understandable rules, regulations and contract specifications
- Unique trading opportunity in the region to participate in global oil markets
- Unique contract size that can be compared directly or as a ratio to other global exchanges
- USD denominated, Cash settled with a tick size of USD $10
- Tax Free – No transaction Tax and Zero Capital Gains tax
- Market hours encompassing the largest global liquidity pools
- Traded on a secure regulated marketplace permitting global participation
Contract Parameters Contract Type Future Contract Name Brent Crude Oil Futures Contract Symbol DBRC Underlying Brent Crude Oil Contract Size 1,000 Barrels (42,000 Gallons) Notional Contract Value 1,000 x Price Trading Currency USD Settlement Currency USD Price Quote US Dollars and Cents per Barrel Tick Size US$ 0.01 Tick Value US$ 10.00 Settlement Basis Cash Settled Final Cash Settlement Price (FCSP) FCSP is based on reference price displayed by market data vendors on Last Trading Day Last Trading Day (LTD) The second last Business Day of the second month preceding the relevant contract month (e.g. the March contract will expire on the second last Business Day in January) Trading Days Exchange Business Days* Trading Hours 07:00 – 23:55 Hours Dubai time Trading Months Monthly contracts for eighteen months forward 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
Expiry Month Expiry Code Last Trading Day Dec'18 DBRC-20181030 30 Oct 2018 Jan'19 DBRC-20181129 29 Nov 2018 Feb'19 DBRC-20181228 28 Dec 2018 Mar'19 DBRC-20190130 30 Jan 2019 Apr'19 DBRC-20190227 27 Feb 2019 May'19 DBRC-20190328 28 Mar 2019 Jun'19 DBRC-20190429 29 Apr 2019 Jul'19 DBRC-20190530 30 May 2019 Aug'19 DBRC-20190627 27 Jun 2019 Sep'19 DBRC-20190730 30 Jul 2019 Oct'19 DBRC-20190829 29 Aug 2019 Nov'19 DBRC-20190927 27 Sep 2019 Dec'19 DBRC-20191030 30 Oct 2019 Jan'20 DBRC-20191128 28 Nov 2019 Feb'20 DBRC-20191227 27 Dec 2019 Mar'20 DBRC-20200130 30 Jan 2020 Apr'20 DBRC-20200227 27 Feb 2020 May'20 DBRC-20200330 30 Mar 2020