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Currencies

Currencies

Currencies

MINR-GBP Futures

Indian Rupee – Pound Sterling futures (INR-GBP) contract is an extension of the Indian Rupee suite of derivatives. The Index contract reflects the Pound Sterling rate as a cross with the Indian Rupee. The contract helps participants to trade the correlation between the Pound Sterling and the Indian Rupee.

 

Contract

Parameters

Contract Symbol

DINRGBP

Underlying

Indian Rupee (INR)

Contract Size

INR 400,000

Notional Contract Value

INR 400,000

Trading Currency

Pound Sterling (GBP)

Settlement Currency

US Dollars (USD)

Price Quote

GBP Pence for 100 INR (e.g. 102.01/102.02 GBP Pence per 100 INR)

Tick Size

 0.01 GBP Pence

Tick Value

 0.40 GBP

Settlement Basis

INRGBP reference rate issued by the Reserve Bank of India, in Mumbai at 12 noon on the Last Day of Trading

Final Cash Settlement Price

INRGBP reference rate issued by the Reserve Bank of India, in Mumbai at 12 noon on the Last Day of Trading

Last Day of Trading

Two Business Days prior to the last calendar day of the Contract Month except where that day is a bank holiday in either Dubai or Mumbai in which case the Last Day of Trading shall be the preceding Business Day that is not a bank holiday in either Dubai or Mumbai

Trading Days

Monday through Friday

Trading Hours

07:00 - 23:55 Hours Dubai time (GMT+4)

Trading Months

First 3 consecutive serial months

New Contract Listing

Business Day immediately following the Last Day of Trading

Max Order Size

2500 lots for Banks and Institutions promoted by Banks

Daily Price Movement Limit

No price limit (Note1*)

Initial Margin based on SPAN

The Initial Margin will denominated in GBP and the same shall be converted into equivalent USD at the prevalent Spot market rate of USD/GBP to display Initial Margin Utilization in USD terms

Calendar Spread Margin

100% benefits is offered on calendar spread positions

Note 1*: For the avoidance of "fat finger" errors, price band shall be 1.5 GBP Pence 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