South African Rand (ZAR)
US Dollars (USD)
ZAR for 1 USD (e.g. ZAR 11.016 / 11.017 Per 1 USD)
Monday through Friday
DGCX Trading Hours
Twelve Monthly Contracts, at the outset first three serial months Contracts shall be available for trading.
The preceding Monday of the third Wednesday of the contract month except where that day is a bank holiday in either Dubai or Pretoria, in which case the Last Day of Trading shall be the preceding Business Day that is not a bank holiday in either Dubai or Pretoria
Business Day immediately following the Last Day of Trading
From Trading Currency to Settlement Currency Based on Spot Prices available for USD/ZAR at the end of DGCX Trading Hours
From Trading Currency to Settlement Currency Based on the USD-ZAR Fixing issued by Reserve Bank of South African on the last trading day
Based on the USD-ZAR Fixing issued by Reserve Bank of South Africa on the Last Day of Trading
EFS, EFP, Block trade facilities available
No price limit (for the avoidance of ‘fat finger’ errors price band shall be 0.20 ZAR from previous settlement price e.g. if previous settlement price is ZAR 11.016/ US$ then the price band is from 10.816 to 11.216)
500 lots for Banks and Institutions promoted by Banks All other entities 200 lots
The Initial Margin will be denominated in ZAR and the same shall be converted into equivalent USD at the prevalent Spot market rate of USD/ZAR to display Initial Margin Utilization in USD terms. At the outset, Initial Margin shall be ZAR 11,000subject to change.
Indicative VM on EOS-Clear will be displayed in USD as per the prevalent spot market rate for USD/ZAR DCCC shall update the spot rates for USD/ZAR intraday for at least 3 times at 0600 hrs, 1500 hrs and End of DGCX Trading Hours
100% Calendar Spread benefit
At times of high volatility, an extra margin, as deemed fit by the DCCC, may be charged
Shall be taken from available market data sources like Bloomberg and Reuters.