Initial Margins

Initial Margin Rates and Associated Margin Credits


The Initial Margin (IM) rates and associated margin credits detailed below are effective on and from: 14 February 2023


Contract GroupContract CodeContract NameCurrencyNew IM Rate as of 09-March-2023IM Rate as of 14-February-2023
FX Currency FuturesDAUDAustralian Dollar/US Dollar FuturesUSD850950
FX Currency FuturesDCADCanadian Dollar/US Dollar FuturesUSD750750
FX Currency FuturesDCHFSwiss Franc/US Dollar FuturesUSD950950
FX Currency FuturesDEUREuro/US Dollar FuturesUSD950950
FX Currency FuturesDGBPPound Sterling/US Dollar FuturesUSD1,2001,050
FX Currency FuturesDJPYJapanese Yen/US Dollar FuturesUSD950900
FX Currency FuturesDINRIIndian Rupee "Quanto"USD170150
FX Currency FuturesDINRMIndian Rupee Mini /US Dollar FuturesUSD5050
FX Currency FuturesDINRWIndian Rupee/USD Weekly FuturesUSD500350
FX Currency FuturesDILSIsraeli Shekel FuturesUSD750450
FX Currency FuturesDPKRPakistani Rupee/USD FuturesUSD1,0001,000
FX Currency FuturesDUSDZARUS Dollar/South African Rand FuturesZAR28,30028,300
FX Currency FuturesDUSDCNHUS Dollar/Chinese YuanCNH20,80020,800
FX Currency OptionsDINRIndian Rupee/USD Futures/Options*USD500350
Precious MetalsDGGold FuturesUSD2,1502,150
Precious MetalsDGSGShariah Compliant Spot GoldUSD2,1502,150
Precious MetalsDGFCDaily Gold FuturesUSD26,80026,800
Precious MetalsDIGIndia Gold "Quanto"USD1,9501,950
Precious MetalsDSSilver FuturesUSD1,5001,450
Precious MetalsDPGPhysical Gold FuturesUSD54,00054,000
Precious MetalsDSGDaily Spot Gold FuturesUSD53,95053,950
EnergyDWTIWTI Crude Oil FuturesUSD8,5006,850
EnergyDWTIMMini WTI Crude Oil FuturesUSD850685
EnergyDBRCBrent Crude Oil FuturesUSD8,4006,400
Base MetalsDCUCopper FuturesUSD2,3502,350
US Equity FuturesDAAPLAPPLEUSD1,1001,100
US Equity FuturesDFBFACEBOOKUSD2,0001,050
US Equity FuturesDGOOGLGOOGLEUSD100100
US Equity FuturesDJPMJP MORGANUSD2,0502,050
US Equity FuturesDMSFTMICROSOFTUSD3,6003,600
Indian Equity FuturesDADANIPORTSAdani Ports and Special Economic Zone Ltd.USD1,6501,650
Indian Equity FuturesDASIANPAINTAsian Paints Ltd.USD3,1003,100
Indian Equity FuturesDAXSBAxis BankUSD1,8501,850
Indian Equity FuturesDBAJAJAUTOBajaj Auto Ltd.USD800800
Indian Equity FuturesDBAJFINANCEBajaj Finance LtdUSD6,6006,600
Indian Equity FuturesDBAJAJFINSVBajaj Finserv LtdUSD300300
Indian Equity FuturesDBPCLBharat Petroleum Corporation Ltd.USD700700
Indian Equity FuturesDBHARTIARTLBharti Airtel Ltd.USD1,6001,600
Indian Equity FuturesDBRITANNIABritannia Industries LtdUSD900900
Indian Equity FuturesDCIPLACipla Ltd.USD2,1502,150
Indian Equity FuturesDCOALINDIACoal India Ltd.USD1,1501,150
Indian Equity FuturesDDIVISLABDivis Laboratories LtdUSD750750
Indian Equity FuturesDDRREDDYDr. Reddy's Laboratories Ltd.USD850850
Indian Equity FuturesDEICHERMOTEicher Motors Ltd.USD650650
Indian Equity FuturesDGAILGAIL (India) Ltd.USD250250
Indian Equity FuturesDGRASIMGrasim Industries LtdUSD3,2003,200
Indian Equity FuturesDHCLTECHHCL Technologies Ltd.USD2,3002,300
Indian Equity FuturesDHDFCHDFCUSD2,6502,650
Indian Equity FuturesDHDFCBHDFC BANKUSD1,6501,650
Indian Equity FuturesDHEROMOTOCOHero MotoCorp Ltd.USD600600
Indian Equity FuturesDHINDALCOHindalco Industries Ltd.USD2,4002,400
Indian Equity FuturesDHINDUNILVRHindustan Unilever Ltd.USD2,6002,600
Indian Equity FuturesDITCI T C Ltd.USD1,9001,750
Indian Equity FuturesDICICIBCICICI BANKUSD4,5004,500
Indian Equity FuturesDIOCIndian Oil Corporation Ltd.USD400400
Indian Equity FuturesDINDUSINDBKIndusInd Bank Ltd.USD1,2001,200
Indian Equity FuturesDINFOInfosysUSD3,1003,100
Indian Equity FuturesDJSWSTEELJSW Steel LimitedUSD3,8503,850
Indian Equity FuturesDKOTAKBANKKotak Mahindra Bank Ltd.USD1,8501,850
Indian Equity FuturesDLTL&TUSD2,1002,100
Indian Equity FuturesDMNMMahindra & Mahindra Ltd.USD2,7502,750
Indian Equity FuturesDMSILMaruti SuzukiUSD1,8001,800
Indian Equity FuturesDNESTLEINDNestle India LimitedUSD3,9503,950
Indian Equity FuturesDNTPCNTPC Ltd.USD1,7501,750
Indian Equity FuturesDONGCOil & Natural Gas Corporation Ltd.USD750750
Indian Equity FuturesDPOWERGRIDPower Grid Corporation of India Ltd.USD1,1501,150
Indian Equity FuturesDRILRelianceUSD2,5502,550
Indian Equity FuturesDSBINSBIUSD3,0503,050
Indian Equity FuturesDSBILIFESBI Life Insurance Company LtdUSD2,4502,450
Indian Equity FuturesDSUNPHARMASun Pharmaceutical Industries Ltd.USD2,1502,150
Indian Equity FuturesDTTMTTata Motors LtdUSD900900
Indian Equity FuturesDTATASTEELTata Steel Ltd.USD250250
Indian Equity FuturesDTCSTCSUSD3,3503,350
Indian Equity FuturesDTECHMTech Mahindra Ltd.USD2,0502,050
Indian Equity FuturesDTITANTitan Company LimitedUSD2,6002,600
Indian Equity FuturesDULTRACEMCOUltraTech Cement Ltd.USD1,4501,450
Indian Equity FuturesDUPLUPL LtdUSD1,5001,500
Indian Equity FuturesDVEDLVedanta Ltd.USD1,6501,650
Indian Equity FuturesDWIPROWipro Ltd.USD2,0502,050
Indian Equity FuturesDYESBANKYes Bank Ltd.USD100100

Initial Margin Credits

The following inter-commodity spread margin credits are effective on and from: 10 October 2022

PriorityCredit Rate % as of 10-Oct-2022Credit Rate % as of 23-Feb-2021Leg AContract Code Leg ALeg BContract Code Leg BPosition type*Delta Leg ADelta Leg B
1100100Indian RupeeDINRIndian Rupee MiniDINRMLong-Short110
2100100WTI Crude Oil FuturesDWTIMini WTI Crude Oil FuturesDWTIMLong-Short110
39595Indian RupeeDINRIndian Rupee QuantoDINRILong-Long13
49595Indian Rupee MiniDINRMIndian Rupee QuantoDINRILong-Long103
59095Australian DollarDAUDAUD RollingSPFAUDLong-Short15
68590Pound SterlingDGBPGBP RollingSPFGBPLong-Short15
78080EuroDEUREUR RollingSPFEURLong-Short15
87575Indian Rupee WeeklyDINRWIndian RupeeDINRLong-Short11
97575Indian Rupee WeeklyDINRWIndian Rupee MiniDINRMLong-Short110
107575Indian Rupee WeeklyDINRWIndian Rupee QuantoDINRILong-Long13
116060WTI Crude Oil FuturesDWTIBrent Crude Oil FuturesDBRCLong-Short11
126060Mini WTI Crude Oil FuturesDWTIMBrent Crude Oil FuturesDBRCLong-Short101
135555Gold FuturesDGSilver FuturesDSLong-Short12
145050Gold FuturesDGIndia Gold QuantoDIGLong-Short23

Calendar Spread Charge

The following Intra-commodity Calendar Spread charges are effective on and from: 12 January 2023

Contract Group Contract Code Contract Name Currency Calendar Spread Charge as of 12-Jan-2023
FX Currency Futures DAUD Australian Dollar/US Dollar Futures USD 140
FX Currency Futures DCAD Canadian Dollar/US Dollar Futures USD 80
FX Currency Futures DCHF Swiss Franc/US Dollar Futures USD 160
FX Currency Futures DEUR Euro/US Dollar Futures USD 150
FX Currency Futures DGBP Pound Sterling/US Dollar Futures USD 210
FX Currency Futures DJPY Japanese Yen/US Dollar Futures USD 190
FX Currency Futures DINR Indian Rupee/USD Futures USD 4
FX Currency Futures DINRW Indian Rupee/USD Weekly Futures USD 4
FX Currency Futures DINRI Indian Rupee "Quanto" USD 4
FX Currency Futures DINRM Indian Rupee Mini /US Dollar Futures USD 4
FX Currency Futures DUSDZAR US Dollar/South African Rand Futures ZAR 4600
FX Currency Futures DUSDCNH US Dollar/Chinese Yuan CNH 2850
Energy DWTI WTI Crude Oil Futures USD 10000
Energy DWTIM Mini WTI Crude Oil Futures USD 1000
Energy DBRC Brent Crude Oil Futures USD 1060
Precious Metals DG Gold Futures USD 440
Precious Metals DIG India Gold "Quanto" USD 300
Precious Metals DS Silver Futures USD 240
Base Metals DCU Copper Futures USD 190

Delivery Margin Rates

The Delivery Margin (DM) rates  detailed below are effective on and from: 14 February 2023

Contract Group Contract Code Contract Name Currency New DM Rate as of 14-Feb-2023 Old DM Rate as of 12-Jan-2023
FX Currency Futures DAUD Australian Dollar/US Dollar Futures USD 1,645 1,645
FX Currency Futures DCAD Canadian Dollar/US Dollar Futures USD 1,300 1,300
FX Currency Futures DCHF Swiss Franc/US Dollar Futures USD 1,645 2,340
FX Currency Futures DEUR Euro/US Dollar Futures USD 1,645 1,820
FX Currency Futures DGBP Pound Sterling/US Dollar Futures USD 1,820 2,945
FX Currency Futures DJPY Japanese Yen/US Dollar Futures USD 1,560 2,620
Precious Metals DGSG Spot Gold Shariah Compliant USD 3,040 2,900
Precious Metals DGFC Daily Gold Futures USD 37,900 35,920
Precious Metals DPG Physical Gold USD 76,370 72,215
Precious Metals DSG Spot Gold USD 76,300 72,215
Margin Parameters (XLSX)