South African Rand – United States (USD-ZAR) dollar futures contract is a part of the key initiative of the exchange to give access to currencies that are relevant to the region as well as be a one stop shop for emerging market currencies.

The USD-ZAR contract is relevant to the region as South Africa is one of the largest trade partner of UAE especially for the Diamond and Gold trade in the UAE. Many South African mining companies have large presence in UAE.

  • USD-ZAR is accessible from 7.00 AM- 11.55 PM UAE time
  • Small contract size $50,000 suitable for traders and organizations with smaller exposures
  • One of the only regulated platforms offering USD-ZAR Futures in GCC
  • UAE is a Tax Free jurisdiction ensuring no tax liability arising out of accrued profit
  • Overlaps most trading zones including Europe and United States hence any news effecting the ZAR markets lies within the time zone
  • Ideal location for corporate organizations with exposure to hedge ZAR as onshore ZAR liquidity availability is difficult

Contract Specifications

ContractParameters
Contract TypeFuture
Contract NameZAR/US Dollar
Contract SymbolDUSDZAR
UnderlyingSouth African Rand
Contract SizeUSD 50,000
Notional Contract ValueUSD 50,000
Trading CurrencyZAR
Settlement CurrencyUSD
Price QuoteZAR per USD
Tick SizeZAR 0.001
Tick ValueZAR 50
Settlement BasisCash Settled
Final Cash Settlement Price (FCSP)FCSP is based on the official USD-ZAR fixing published by the Reserve Bank of South Africa on Last Trading Day
Last Trading Day (LTD)Two Business Days prior to the third Wednesday of the expiry month
Trading DaysExchange Business Days*
Trading Hours07:00 – 23:55 Hours Dubai time
Trading MonthsMonthly for 3 months forward
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 M

Contract Calendar

Expiry MonthExpiry CodeLast Trading Day
Sep'19DUSDZAR-2019091616-Sep-19
Oct'19DUSDZAR-2019101414-Dec-19
Nov'19DUSDZAR-2019111818-Nov-19