MINR – GBP Futures
Indian Rupee – Pound Sterling futures (INR-GBP) contract is an extension of the Indian Rupee suite of derivatives. The Index contract reflects the Pound Sterling rate as a cross with the Indian Rupee. The contract helps participants to trade the correlation between the Pound Sterling and the Indian Rupee.
It helps to capture the volatility of the Pound Sterling to specific events effecting the Pound Sterling .The contract is also covers the need of a large plethora of organizations and funds which have a Pound Sterling versus Indian Rupee exposure.
- Hedging window available long after Indian currency markets close
- Arbitrage opportunity with the INR-GBP contract traded onshore in both over the counter and onshore exchanges
- Mini size two hundred thousand Indian Rupees ensures that smaller exposures can be hedged
- Unique trading opportunity for organizations with exposure to Pound Sterling and Indian Rupee
- Cash settled in USD on the Indian Central Bank reference rate eliminating any basis risk
- UAE is a Tax Free jurisdiction ensuring no tax liability arising out of accrued profit
- Market hours from 7.30 AM India time till 1.25 AM India time
- Overlaps most trading zones including Europe, United Kingdom and United States
Contract Parameters Contract Symbol DINRGBP Underlying Indian Rupee (INR) Contract Size INR 400,000 Notional Contract Value INR 400,000 Trading Currency Pound Sterling (GBP) Settlement Currency US Dollars (USD) Price Quote GBP Pence for 100 INR (e.g. 102.01/102.02 GBP Pence per 100 INR) Tick Size 0.01 GBP Pence Tick Value 0.40 GBP Settlement Basis INRGBP reference rate issued by the Reserve Bank of India, in Mumbai at 12 noon on the Last Day of Trading Final Cash Settlement Price INRGBP reference rate issued by the Reserve Bank of India, in Mumbai at 12 noon on the Last Day of Trading Last Day of Trading Two Business Days prior to the last calendar day of the Contract Month except where that day is a bank holiday in either Dubai or Mumbai in which case the Last Day of Trading shall be the preceding Business Day that is not a bank holiday in either Dubai or Mumbai Trading Days Monday through Friday Trading Hours 07:00 - 23:55 Hours Dubai time (GMT+4) Trading Months First 3 consecutive serial months New Contract Listing Business Day immediately following the Last Day of Trading Max Order Size 2500 lots for Banks and Institutions promoted by Banks Daily Price Movement Limit No price limit (Note1*) Initial Margin based on SPAN The Initial Margin will denominated in GBP and the same shall be converted into equivalent USD at the prevalent Spot market rate of USD/GBP to display Initial Margin Utilization in USD terms Calendar Spread Margin 100% benefits is offered on calendar spread positions Note 1*: For the avoidance of "fat finger" errors, price band shall be 1.5 GBP Pence 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 DINRGBP DINRGBP-20170127 27-Jan-2017 27-Jan-2017 30-Jan-2017 30-Jan-2017 30-Jan-2017 30-Jan-2017 DINRGBP DINRGBP-20170224 23-Feb-2017 23-Feb-2017 24-Feb-2017 24-Feb-2017 24-Feb-2017 24-Feb-2017 DINRGBP DINRGBP-20170329 29-Mar-2017 29-Mar-2017 30-Mar-2017 30-Mar-2017 30-Mar-2017 30-Mar-2017 DINRGBP DINRGBP-20170426 26-Apr-2017 26-Apr-2017 27-Apr-2017 27-Apr-2017 27-Apr-2017 27-Apr-2017 DINRGBP DINRGBP-20170529 29-May-2017 29-May-2017 30-May-2017 30-May-2017 30-May-2017 30-May-2017 DINRGBP DINRGBP-20170628 28-Jun-2017 28-Jun-2017 29-Jun-2017 29-Jun-2017 29-Jun-2017 29-Jun-2017 DINRGBP DINRGBP-20170727 27-Jul-2017 27-Jul-2017 28-Jul-2017 28-Jul-2017 28-Jul-2017 28-Jul-2017 DINRGBP DINRGBP-20170829 29-Aug-2017 29-Aug-2017 30-Aug-2017 30-Aug-2017 30-Aug-2017 30-Aug-2017 DINRGBP DINRGBP-20170927 27-Sep-2017 27-Sep-2017 28-Sep-2017 28-Sep-2017 28-Sep-2017 28-Sep-2017 DINRGBP DINRGBP-20171027 27-Oct-2017 27-Oct-2017 30-Oct-2017 30-Oct-2017 30-Oct-2017 30-Oct-2017 DINRGBP DINRGBP-20171128 28-Nov-2017 28-Nov-2017 29-Nov-2017 29-Nov-2017 29-Nov-2017 29-Nov-2017 DINRGBP DINRGBP-20171227 27-Dec-2017 27-Dec-2017 28-Dec-2017 28-Dec-2017 28-Dec-2017 28-Dec-2017