India Gold Quanto Futures
India is well known as the biggest Gold importing country in the world. Love for Gold in India goes back millenniums and Indian households are estimated to be holding 22.000 MT of Gold. India has a well-developed gold cash market. The India Gold Quanto futures contract on DGCX platform provides a price discovery and trading avenue for the industry participants for Gold traded in India.
DGCX trades before start and after closure of Indian market hours, which will provide a unique opportunity for traders to discover price and trade in the contract on basis of the information available to them for all international and national events.
- Trade your views on the Indian Gold Market
- Arbitrage opportunity with the highly correlated gold contract based on global prices.
- Benefit from margin offset provided by DCCC for inter-commodity spreads
- Low cost structure
- Trade Gold futures based on the biggest Gold consumption market in the world
- USD denominated, Cash settled
- Tax Free – No transaction Tax, Zero Capital gains Tax
- Tick size of USD 1
- Extends beyond trading hours of reference market
- Efficient margining for optimal leverage
- No INR exchange rate risk
Contract Parameters Contract Symbol DIG Underlying India Gold Contract Size 1 Notional Contract Value USD 1.00X Indian Gold Futures Price quoted in INR per 10gms (e.g. Bid 27575 / Offer 27,576) Trading Currency USD Settlement Currency USD Price Quote USD 1.00X Indian Gold Futures Price quoted in INR per 10gms (e.g. Bid 27575 / Offer 27,576) Tick Size USD 1 Tick Value USD 1 Settlement Basis Cash Settlement Final Cash Settlement Price The Final Cash Settlement Price basis shall be the benchmark reference Gold futures price publically available in Indiathat corresponds to the DGCX Contract Month Last Day of Trading The Last Day of Trading for Gold Quanto Futures Contracts is the second last Day of Trading of the month immediately preceding the Delivery month Trading Days Monday through to Friday Trading Hours DGCX Trading Hours Trading Months February, April, June, August, October, December (Six contracts at any given point of time) New Contract Listing Business Day immediately following the Last Day of Trading Max Order Size 500 contracts for Banks and institutions promoted by Banks. All other entities 200 contracts Initial Margin based on SPAN USD 1,050 per lot (subject to change) Calendar Spread Margin 100% benefit is offered on calendar spread margins Daily Price Movement limit No Limits* Note 1*: For the avoidance of ‘fat finger’ errors price band shall be USD 900 from previous settlement price. (E.g. if previous settlement price is USD 27,000, the price band is from USD 26,100 to USD 27,900). 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 Identifier Last Trading Date Expiry Date Tender Start Date Tender End Date Delivery Start Date Delivery End Date DIG DIG-20180130 30-Jan-2018 30-Jan-2018 31-Jan-2018 31-Jan-2018 31-Jan-2018 31-Jan-2018 DIG DIG-20180328 28-Mar-2018 28-Mar-2018 29-Mar-2018 29-Mar-2018 29-Mar-2018 29-Mar-2018 DIG DIG-20180530 30-May-2018 30-May-2018 31-May-2018 31-May-2018 31-May-2018 31-May-2018 DIG DIG-20180730 30-Jul-2018 30-Jul-2018 31-Jul-2018 31-Jul-2018 31-Jul-2018 31-Jul-2018 DIG DIG-20180927 27-Sep-2018 27-Sep-2018 28-Sep-2018 28-Sep-2018 28-Sep-2018 28-Sep-2018 DIG DIG-20181129 29-Nov-2018 29-Nov-2018 30-Nov-2018 30-Nov-2018 30-Nov-2018 30-Nov-2018