The index is based on the MSCI Global Investable Indexes (GIMI) Methodology—a comprehensive and consistent approach to index construction that allows for meaningful global views and cross regional comparisons across all market capitalization size, sector and style segments and combinations. This methodology aims to provide exhaustive coverage of the relevant investment opportunity set with a strong emphasis on index liquidity, investability and replicability.

The index is reviewed quarterly—in February, May, August and November—with the objective of reflecting change in the underlying equity markets in a timely manner, while limiting undue index turnover. During the May and November semi-annual index reviews, the index is rebalanced and the large and mid capitalization cutoff points are recalculated.

Contract Features

  • Broad India market exposure with a single trade
  • US $ denominated; cash settled
  • Tax Free- No STT, Zero Capital Gains tax
  • Trade India outside India market hours
  • Efficient margining for optimal leverage
  • Competitive Transaction costs
  • Block Trade facility available

Contract Uses

  • Hedge your Indian equity portfolio
  • Replicate your macro India view offshore
  • Trade Volatility of Indian stocks
  • Trade Calendar spreads
  • Profit from price anomalies of highly correlated contracts

Contract Specifications

ContractParameters
Contract TypeFuture
Contract NameMSCI India Futures (INR, PRICE)
Contract SymbolDMSI
UnderlyingMSCI India (INR, PRICE) Index
Contract Size25 Index Points
Notional Contract Value25 x price
Trading CurrencyUSD
Settlement CurrencyUSD
Price QuoteUS $
Tick Size0.5
Tick ValueUS$ 12.50
Settlement BasisCash Settled
Final Cash Settlement Price (FCSP)FCSP is based on the closing price of the MSCI (INR, PRICE) published by MSCI on Last Trading Day, rounded to the nearest tick
Last Trading Day (LTD)Last Thursday of the calendar month
Trading DaysExchange Business Days*
Trading Hours07:00 – 23:55 Hours Dubai time
Trading MonthsMonthly contracts for three months forward plus one quarterly contract (e.g. Jan, Feb, Mar and Jun)
New Contract ListingBusiness Day immediately following the Last Trading Day
Max Order Size200 Lots
Wholesale TradesBlock Trade minimum size threshold: 50 lots. EFP/EFS also available. Trades must be submitted 15 minutes after execution
No Cancellation RangeSee link: www.dgcx.ae/price-limits

*See Exchange By-Laws Part P

Contract Calendar

Expiry MonthExpiry CodeLast Trading Day
Dec'19DMSI-2019122626-Dec-19
Jan'20DMSI-2020013030-Jan-20
Feb'20DMSI-2020022727-Feb-20
Mar'20DMSI-2020032626-Mar-20