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Metals

Metals

Metals

India Silver Quanto Futures

Indian household are known to use a big part of their savings in buying Gold and Silver. This is primarily due to easy and historic understanding of physical bullion and lack of awareness and understanding of other key asset classes like equity, fixed income etc. In recent years silver consumption in India has significantly increased with a push on solar energy and household buying.

 

Contract

Parameters

Contract Symbol

DIS

Underlying

India Silver

Contract Size

1

Notional Contract Value

USD 1 * Indian Silver Futures Price quoted in INR/ KG (e.g. Bid 36,000 / Ask 36,001)

Trading Currency

USD

Settlement Currency

USD

Price Quote

USD 1 * Indian Silver Futures Price quoted in INR/ KG (e.g. Bid 36,000 / Ask 36,001)

Tick Size

USD 1

Tick Value

USD 1

Settlement Basis

Cash Settlement

Final Cash Settlement Price

The final cash settlement price basis shall be the benchmark reference silver futures price publicly available in India that corresponds to the DGCX contract month

Last Day of Trading

The Last Day of Trading for Gold Quanto Futures Contracts is the second last Day of Trading of the month immediately preceding the Delivery month

Trading Days

Monday through to Friday

Trading Hours

DGCX Trading Hours

Trading Months

March, May, July, September, December (three contracts at any given point of time)

New Contract Listing

Business Day immediately following the Last Day of Trading

Max Order Size

500 contracts for Banks and institutions promoted by Banks. All other entities 200 contracts

Initial Margin based on SPAN

USD 2,100 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 USD 1,500 from previous settlement price e.g. if previous settlement price is USD 36,000 then the price band is from USD 34,500 to USD 37,500. If price breaches the daily price movement limit, trading in particular contract shall continue, with the new trading price range without any cooling period