MINR – USD Futures

  • The Indian Rupee – USD futures contract is part of a key initiative of the DGCX, giving access to currencies that are relevant to the region. India is one of UAE’s largest trade partners and Non Resident Indians (NRIs) contribute over 30% of the total population of the UAE.

    India’s economy is one of the fastest growing economies in the world and is consistently ranked highly in terms of GDP growth. The Indian Rupee liquidity pool has attracted the attention of numerous global entities to hedge their Indian Rupee risk offshore. This has enabled the DGCX to become the largest global liquidity pool in Indian Rupee futures and options. The smaller sized contract is aimed at corporations looking at more precise hedging requirements as well as the retail community.

    • Tracks and prices the largest global liquidity pool in INR Futures
    • Traded and Cash settled in US Dollars (USD) against the RBI reference rate eliminating basis risk
    • Tax Free – No transaction Tax and Zero Capital Gains tax
    • Basis 200,000 INR contract size, tick size USD $0.2
    • Hedging window available long after Indian currency markets close
    • Smaller contract size provides the opportunity to hedge for global participants with more precise hedging requirements and exposure to the Indian Rupee
    • Unique trading opportunity in the region to participate in global currency markets
    • The margin offsets by DCCC for inter-commodity spreads offers greater capital efficiency
    • Access to the largest global liquidity pools with narrow spreads
    • Traded on a globally recognized, regulated and safe platform permitting greater participation
  • Contract SpecificationParameters
    Contract Symbol DINRM
    Underlying Indian Rupee
    Contract Size INR 200,000
    Notional Contract Value INR 200,000
    Trading Currency US Dollar
    Settlement Currency US Dollar
    Price Quote USD quoted in Cents per 100 Indian Rupees ( e.g. 155.73/155.74 US Cents per 100 Indian Rupees)
    Tick Size US$ 0.01 US Cents
    Tick Value US$ 0.2
    Settlement Basis Cash Only Settlement Contract
    Final Cash Settlement Price FCSP is based on the official USDINR reference rate issued by the Reserve Bank of India, based on bank rates in Mumbai at 12 noon on the final day of trading or earliest available date
    Last Day of Trading Two Business Days prior to the last working day of the contract month
    Trading Days Monday through to Friday
    Trading Hours 07:00 - 23:55 Hours Dubai time (GMT+4)
    Trading Months Monthly contracts and spreads for twelve months forward
    New Contract Listing Business day immediately following the last trading day
    Max Order Size 500 lots for Banks and institutions promoted by Banks. All other entities 200 Lots
    EFP / EFS / Block Trades As per DGCX By-Laws. Minimum Block size permitted is 200 contracts
    Time Limit for Trade Registration - EFP / EFS / Block Up to 5 minutes after cessation of trading on any trading day
    Initial Margin based on SPAN USD 50 per lot (subject to change)
    Extra Margin At times of high volatility, an extra margin, as deemed fit by the Exchange, may be charged
    Calendar Spread Margin 100% benefits is offered on calendar spread positions
    Daily Price Movement limit No Price Limits - Note 1*

    Note 1*: For the avoidance of “fat finger” errors, price bands shall be 1.5 US Cents from the previous settlement price. If the price breaches the daily price movement limit, trading in the particular contract shall continue, with the new trading price range without any cooling period
  • Expiry MonthExpiry CodeLast Trading Day
    Oct'18 DINRM-20181029 29 Oct 2018
    Nov'18 DINRM-20181128 28 Nov 2018
    Dec'18 DINRM-20181227 27 Dec 2018
    Jan'19 DINRM-20190129 29 Jan 2019
    Feb'19 DINRM-20190226 26 Feb 2019
    Mar'19 DINRM-20190327 27 Mar 2019
    Apr'19 DINRM-20190426 26 Apr 2019
    May'19 DINRM-20190529 29 May 2019
    Jun'19 DINRM-20190626 26 Jun 2019
    Jul'19 DINRM-20190729 29 Jul 2019
    Aug'19 DINRM-20190828 28 Aug 2019
    Sep'19 DINRM-20190926 26 Sep 2019