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Metals

Metals

Metals

Copper Futures

Copper is a malleable, ductile, metallic element having a characteristic reddish-brown color. It is used in large quantities as an electrical conductor and in the manufacture of alloys as brass and bronze. Copper is found as a pure metal in nature and this was the source of the first metal to be used by humans in 8,000 BC. It was the first metal to be smelted from its ore in 5,000 BC. It was the first metal to be cast into a shape in a mold in 4,000 BC. Additionally, it was the first metal to be purposefully alloyed with another metal, tin, to create bronze in 3,500 BC.

 

Contract

Parameters

Contract Symbol

DCU

Underlying

DGCX Copper Futures

Contract Size

5 MT

Notional Contract Value

5xPrice of Copper in USD/MT

Trading Currency

USD

Settlement Currency

USD

Price Quote

US$ per MT

Tick Size

US$ 0.50

Tick Value

USD 2.50

Settlement Basis

Cash Settlement

Quality Specs

Grade 1 Electrolytic Copper Cathodes (full plate or cut) conforming to the American Society for Testing and Materials (B115-00), or its latest revision

Final Cash Settlement Price

The front month settlement price for Copper futures as made public by COMEX for the Last Day of Trading of the DGCX front month contract, converted using conversion factor of 2,204.623 to MT and rounded to the nearest DCU tick.

Last Day of Trading

Third last Business Day preceding the Delivery Month

Trading Days

Monday through to Friday

Trading Hours

DGCX Trading Hours

Trading Months

March, May, July, September, December. Minimum five (5) Contracts shall be listed for trading at all time

New Contract Listing

Business Day immediately following the Last Day of Trading

Max Order Size

200 Contracts

Initial Margin based on SPAN

USD 750 per lot (subject to change)

Calendar Spread Margin

100% benefit is offered on calendar spread margins

Daily Price Movement limit

No Limits*

Note 1*: For the avoidance of ‘fat finger’ errors price band shall be in place. If price breaches the daily price movement limit, trading in particular contract shall continue, with the new trading price range without any cooling period