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DGCX offers futures contracts on the world’s two leading energy benchmarks: Brent and West Texas Intermediate Light Sweet crude oil. Both contracts are cash settled and thus involve no delivery risk. They are available for trading to regional and international market participants. The DWTI contract is sized at 1,000 barrels, with the contract price quoted in U.S. dollars and cents per barrel. The minimum price fluctuation will be one cent per barrel, equivalent to a tick value of $10.00.
The DBRC contract is sized at 1,000 barrels, with the contract price quoted in U.S. dollars and cents per barrel. The minimum price fluctuation will be one cent per barrel, equivalent to a tick value of $10.00.
| Trading | |
|---|---|
| Symbol | DWTI |
| Underlying Asset | DGCX West Texas Intermediate Light Sweet Crude Oil Futures |
| Contract Size | 1,000 barrels (42,000 gallons) |
| Price Quote | US Dollars and Cents per barrel |
| Tick Size | US$ 0.01 per barrel (US$ 10 per tick) |
| Daily Price Movement Limit | No Limit – Note 1* |
| Note 1*: There will be no limits on intra-day price movements, however to restrict data-entry errors the system will not allow entry of orders having prices higher or lower than US$ 3 as compared to the Previous Close Price. Exchange shall relax the intra-day price range for the prices of the contract approaching the US$ 3 limit | |
| Price Basis | Cash Only Settlement Contract |
| Final Cash Settlement Price | The front month settlement price for WTI Crude Oil futures as made public by NYMEX for the Last Day of Trading of the DGCX front month contract |
| Delivery Months | Twelve consecutive months plus ten contract months consisting of June and December months will be listed for an additional five calendar years |
| Trading Day | Monday through to Friday |
| Trading Hours | 07:00 – 23:30 Hours Dubai time (GMT+4) |
| Last Day of Trading | Last Day of Trading shall be the fourth US business day prior to the 25th calendar day of the month that precedes the Delivery Month. If the 25th calendar day is not a US business day; Last Day of Trading shall be the fourth US business day prior to the US business day that precedes the 25th calendar day. If the fourth US business day is not a DGCX Business Day, then the preceding DGCX Business Day shall be the Last Day of Trading |
| Cash Settlement Day | The Business Day folloing the last day of trading |
| New Contract Listing | Business day immediately following the last trading day |
| EFP / EFS / Block Trades | As per DGCX By-Laws. Minimum Blcok size permitted is 200 contracts. |
| Time Limit for EFP / EFS / Block Trade Registration | Up to 15 minutes after cessation of trading on any trading day |
| Trading | ||||||||||||||||||||||||||||
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| Underlying | Polypropylene | |||||||||||||||||||||||||||
| Trading Unit ( 1 lot) | 5 metric tonnes per contract | |||||||||||||||||||||||||||
| Quality Specification |
General Purpose Fibre (raffia) extrusion grade
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| Trading Months | Up to 12 calendar months at any one time | |||||||||||||||||||||||||||
| Trading Days | Monday through Friday | |||||||||||||||||||||||||||
| Last Day of Trading | 10th Trading Day of the Delivery Month | |||||||||||||||||||||||||||
| New Contract Listing | First Trading Day after the Last Trading Day | |||||||||||||||||||||||||||
| Trading Hours | 7am – 1pm Dubai Time | |||||||||||||||||||||||||||
| Wholesale Trades | EFS, EFP, Block trade facilities available with minimum permitted block size of 50 lots | |||||||||||||||||||||||||||
| Price Quote | USD per MT | |||||||||||||||||||||||||||
| Minimum Tick | USD 1.00 | |||||||||||||||||||||||||||
| Minimum Tick Value | USD 5.00 | |||||||||||||||||||||||||||
| Calendar Spread | Calendar Spread of Jan-May, May-Sep and Sep-Jan will be available for trading | |||||||||||||||||||||||||||
| Delivery Type & Minimum Delivery Unit | Compulsory Delivery. In Multiples of 5 Trading lots on both Buyers and Sellers. Note 1* | |||||||||||||||||||||||||||
| Price Basis | In warehouse (INWH), Duty unpaid at DGCX Approved Warehouse Delivery at Seller’s option | |||||||||||||||||||||||||||
| First Notice Day | 1st Trading Day of the Delivery Month | |||||||||||||||||||||||||||
| Delivery Day | Two Business Days after Notice Day | |||||||||||||||||||||||||||
| Daily Price Limit | No Limit Note 2* | |||||||||||||||||||||||||||
| Margins | USD250 (subject to change from time to time by the DCCC) | |||||||||||||||||||||||||||
| Delivery Period Margin | 10 times of the Initial Margin | |||||||||||||||||||||||||||
| Calendar Spread Margin | 100% benefits is offered on calendar spread positions | |||||||||||||||||||||||||||
| Delivery Instrument | Warrant | |||||||||||||||||||||||||||
| Last Notice Day | Last Day of Trading | |||||||||||||||||||||||||||
| Delivery Notices | During the Notice Day, Sellers must submit Delivery Notice, indicating: Trading Member and Client code The Contract(s) against which delivery is to be made (including the number of lots making up the parcel(s)) In respect of each parcel, the Warrant reference, or, as a minimum: the delivery location the details of the lot to be delivered such other information as may be prescribed | |||||||||||||||||||||||||||
| Documents | A copy of the producer’s Certificate of Analysis for every production batch making up the lot, duly evidencing that each lot is fully traceable, must accompany every lot delivered into a DGCX Approved Warehouse. The Certificate of Analysis must state the producer, grade, batch number and test results for the batch A certificate of origin issued by the producer specifying the country of origin of the lot A material safety data sheet issued by the producer containing safety information regarding the handling of the PP | |||||||||||||||||||||||||||
| Delivery Tolerance | Weight tolerance of +/-0.8% on standard Delivery Unit of 24.75 tonnes The net weight and number of torn bags within each lot shall be documented | |||||||||||||||||||||||||||
| Packaging | Each delivery unit shall consist of 990 x 25 kg bags comprising 18 pallets each carrying 55 such bags stacked symmetrically in 11 layers of 5 bags per layer Each pallet shall be shrink or stretch wrapped and covered with a plastic hood All pallets shall be in good condition without protrusions of nails, screws, large splinters or other sharp objects Each bag shall be marked indelibly with the producer’s name, brand, grade and batch number and the net weight of PP within the bag Torn bags shall have been repaired with suitable adhesive tape in a colour that enables such bags to be readily identified. | |||||||||||||||||||||||||||
| Production batches | Each Delivery Unit shall consist of no more than 2 production batches | |||||||||||||||||||||||||||
| Polymer age and delivery time | PP must have been produced no more than 17 months prior to the Delivery Day and arrived at the Approved Warehouse for no longer than 6 months after production date | |||||||||||||||||||||||||||
| Delivery Allocation Information | Prior to 0600 hrs on the Business Day following the Notice Day(s), the DCCC notifies both Seller and Buyer of their matching, stating the allotted quantities specific grades (and theoretical weights), Settlement Value, Delivery location, and Delivery Day. | |||||||||||||||||||||||||||
| Delivery Prompt | One Business Day after the Notice Day(s); prior to 1200 hrs Dubai time, DGCX prompts Sellers of the necessity to acquire valid Warrant against their positions | |||||||||||||||||||||||||||
| Day Before Delivery Day | Prior to 1200 hrs, the DCCC can be advised of an ADP | |||||||||||||||||||||||||||
| Day of Delivery | Prior to 1200 hrs on the Delivery Day, Seller transfers warrant for delivery to the designated delivery Account | |||||||||||||||||||||||||||
| Provisional Settlement Value | The amount invoiced to the Buyer is basis nominal (Unit: 25 tonnes) | |||||||||||||||||||||||||||
| Pay-in of Fundsi.e. Buyer makes payment | Prior to 1200 hrs on Delivery Day, Buyer makes payment of the Provisional Settlement Value, adjusted to cater for release of Delivery Margin | |||||||||||||||||||||||||||
| Settlement Value | The amount paid to the Seller based upon the actually delivered quantity | |||||||||||||||||||||||||||
| Pay-out of Commodities i.e. Transfer of Title | After 1500 hrs on the Delivery Day, DCCC transfer endorses Warrant in favor of Buyer | |||||||||||||||||||||||||||
| Pay-out of Fundsi.e. Seller receives payment | After 1500 hrs, DCCC makes payment to Seller | |||||||||||||||||||||||||||
| Delivery Value Adjustment | On the Delivery Day after 1500 hrs any difference between the Provisional Settlement Value and the Settlement Value is reimbursed to the Buyer | |||||||||||||||||||||||||||
Note 1*: The delivery will be in multiple of 5 lots. Open positions less than Delivery Units on both sellers and buyers will be financially settled using the Final Settlement Price. Should one side fulfil the minimum Delivery Unit while the counterparty did not meet the minimum Delivery Unit, it will be financially settled using the Final Settlement Price. Note 2*: There will be no limits on intra-day price movements, however to restrict data-entry errors the system will not allow entry of orders having prices higher or lower than US$50 as compared to the previous closing price. Exchange shall relax the intra-day price range for the prices of the contract approaching the US$50 limit
| Contract | Mini Dubai Polypropylene for Middle East Delivery | |||||||||||||||||||||||||||
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| Trading | ||||||||||||||||||||||||||||
| Underlying | Polypropylene (PP) | |||||||||||||||||||||||||||
| Contract Symbol | 5 tonnes per contract | |||||||||||||||||||||||||||
| Quality Specification |
General Purpose Fibre (Raffia) extrusion graderaffia
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| Price Quote | USD per tonne | |||||||||||||||||||||||||||
| Minimum Tick Size | USD 1.00 | |||||||||||||||||||||||||||
| Minimum Tick Value | USD 5.00 | |||||||||||||||||||||||||||
| Price Basis | In warehouse (INWH), duty unpaid at DGCX Approved Warehouse delivery at seller’s option | |||||||||||||||||||||||||||
| Delivery Months | Up to 12 calendar months at any time | |||||||||||||||||||||||||||
| Trading Days | Monday through Friday | |||||||||||||||||||||||||||
| Trading Hours | 07:00- 15:00hours Dubai Time | |||||||||||||||||||||||||||
| Last Day of Trading | Three Trading Days Prior to the Delivery Month | |||||||||||||||||||||||||||
| Wholesale Trades | EFS, EFP, Block trade facilities available with minimum permitted block size of 50 lots | |||||||||||||||||||||||||||
| Time Limit for EFP/EFS/Block Trade Registration | Up to 15 minutes after cessation of trading on any Trading Day | |||||||||||||||||||||||||||
| New Contract Listing | Business Day immediately following the Last Trading Day | |||||||||||||||||||||||||||
| Risk Management | ||||||||||||||||||||||||||||
| Daily Price Movement Limit | No Limit, Note 1* | |||||||||||||||||||||||||||
| Initial Margin based on SPAN | USD 200 (subject to change from time to time) | |||||||||||||||||||||||||||
| Calendar Spread Margin | 100% benefit is offered on calendar spread positions | |||||||||||||||||||||||||||
| Maximum Open Position Limit | As determined by the Exchange from time to time | |||||||||||||||||||||||||||
| Maximum Order size | 200 Contracts | |||||||||||||||||||||||||||
| Delivery | ||||||||||||||||||||||||||||
| Delivery Type | Financial Settlement | |||||||||||||||||||||||||||
| Final Settlement Price | The Final Settlement Price Methodology shall be derived from the conditions listed below on the underlying 25MT contract: (a) Value Weighted Average Price (VWAP) of all trades executed in last 10 minutes of the Last Trading Day (b) If no trades have been executed in the last 10 minutes, the VWAP of last 15 trades executed during the Last Trading Day provided 15 trades are executed (c) If 15 trades have not occurred, the VWAP of all trades executed during the Last Trading Day (d) Where there are no trades executed during Last Trading Day, the price midway between outright bids and offers during the last 10 minute period | |||||||||||||||||||||||||||
| Sr. | Commodity | Minimum Initial Margin | Calendar Spread Benefit | Tender / Delivery Margin |
|---|---|---|---|---|
| 1 | Gold | $ 1,200 per contract | 100% | $ 6,500 per contract |
| 2 | India Gold “Quanto” | $ 950 per contract | 100% | No Tender Margin |
| 3 | Silver | $ 700 per contract | 100% | $ 4,500 per contract |
| 4 | Euro | $ 1,100 per contract | 100% | No Tender Margin |
| 5 | Sterling Pound | $ 1,000 per contract | 100% | No Tender Margin |
| 6 | Japanese Yen | $ 900 per contract | 100% | No Tender Margin |
| 7 | Indian Rupee | $ 600 per contract | 100% | No Tender Margin |
| 8 | Indian Rupee “Quanto” | $ 120 per contract | 100% | No Tender Margin |
| 9 | Mini Indian Rupee | $ 60 per contract | 100% | No Tender Margin |
| 10 | Australian Dollar | $ 800 per contract | 100% | No Tender Margin |
| 11 | Canadian Dollar | $ 600 per contract | 100% | No Tender Margin |
| 12 | Swiss Franc | $ 1,500 per contract | 100% | No Tender Margin |
| 13 | WTI Light Sweet Crude Oil | $ 3,000 per contract | 100% | No Tender Margin |
| 14 | Mini Polypropylene (PP) | $ 200 per contract | 100% | No Tender Margin |
| 15 | Polypropylene (PP) | $ 1,000 per contract | 100% | $ 10,000 per contract |
| 16 | Copper | $ 1,000 per contract | 100% | No Tender Margin |
| 17 | SENSEX | $ 900 per contract | 100% | No Tender Margin |
| 18 | MSCI India (INR, PRICE) Index | $ 900 per contract | 100% | No Tender Margin |
| 19 | MSCI India (USD, NTR) Index | $ 1,100 per contract | 100% | No Tender Margin |
| 20 | Mini INR Euro | Euro 120 per contract | 100% | No Tender Margin |
| 21 | Mini INR GBP | GBP 100 per contract | 100% | No Tender Margin |
| 22 | USD/RUB | RUB 115,000 per contract | 100% | No Tender Margin |
| 23 | USD/KRW | KRW 875,000 per contract | 100% | No Tender Margin |
| 24 | USD/ZAR | ZAR 13,000 per contract | 100% | No Tender Margin |
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Register Demo Account
Open Practice Account – Live Demo Account for trading experience.
| Title Account: | EARNEX DMCC |
| Bank Name: | Emirates NBD |
| Account Number: | 1022246735102 |
| IBAN: | AE970260001022246735102 |
| Swift Code: | EBILAEAD |
| Reference: | Name of person depositing funds and EARNEX account number |
| Title Account: | EARNEX DMCC |
| Bank Name: | Emirates NBD |
| Account Number: | 1012246735104 |
| IBAN: | AE080260001012246735104 |
| Swift Code: | EBILAEAD |
| Reference: | Name of person depositing funds and EARNEX account number |
