USD – Chinese Yuan Futures
Chinese Yuan- United States (USD-CNH) 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-CNH contract is relevant to the region as China is one of the largest trade partner of UAE. China is the second largest economy in the world and the largest economy by PPP standards.
The CNH was recently recognized by IMF as a reserve currency and is now a prominent member of the big three currencies. The CNH contract was launched in UAE in partnership with one of China’s leading bank who provide participants with access to liquidity.
- Quotes till midnight China time
- Market Making by China’s leading bank
- Small contract size $50,000 suitable for traders and organizations with smaller exposures
- One of the only regulated platforms offering USD-CNH Futures in GCC
- UAE and Bahrain have both become regional hubs for clearing CNH trades
- 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 CNH markets lies within the time zone
Contract Parameters Contract Symbol DUSDCNH Underlying Offshore Chinese Yuan/US Dollar Contract Size USD 50,000 Notional Contract Value USD 50,000 Trading Currency Chinese Yuan (CNH) Settlement Currency Chinese Yuan (CNH) Price Quote CNH for 1 USD (e.g. CNH 6.3680 / 6.3682 Per 1 USD) Tick Size 0.0002 CNH Tick Value CNH 10 Settlement Basis Cash Settled. Final Cash Settlement Price Open Positions at expiry of contract shall be settled in Chinese Yuan as per the Final Cash Settlement Price (FCSP) declared by the Exchange. Last Day of Trading Second last business day of the contract month. Trading Days Monday to Friday. Trading Hours 07:00 - 23:55 Hours UAE time (GMT+4). Trading Months First 12 consecutive serial months. New Contract Listing Business day immediately following the last day of trading. Max Order Size 500 contracts for Banks and Institutions promoted by Banks. Daily Price Movement Limit No price limit. (Note 1*) Initial Margin based on SPAN The Initial Margin will be denominated in CNH and the same shall be converted into equivalent USD at the prevalent Spot market rate of USD/CNH to display Initial Margin Utilization in USD terms. Calendar Spread Margin 100% Calendar Spread benefit Note 1*: For the avoidance of "fat finger" errors, price band shall be 0.10 CHN 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
Expiry Month Expiry Code Last Trading Day Oct'18 DUSDCNH-20181030 30 Oct 2018 Nov'18 DUSDCNH-20181129 29 Nov 2018 Dec'18 DUSDCNH-20181228 28 Dec 2018 Jan'19 DUSDCNH-20190130 30 Jan 2019 Feb'19 DUSDCNH-20190227 27 Feb 2019 Mar'19 DUSDCNH-20190328 28 Mar 2019 Apr'19 DUSDCNH-20190429 29 Apr 2019 May'19 DUSDCNH-20190530 30 May 2019 Jun'19 DUSDCNH-20190627 27 Jun 2019 Jul'19 DUSDCNH-20190730 30 Jul 2019 Aug'19 DUSDCNH-20190829 29 Aug 2019 Sep'19 DUSDCNH-20190927 27 Sep 2019