Contract | Parameters |
---|---|
Contract Symbol | DS |
Underlying | Silver |
Contract Size | 1,000 troy ounces |
Notional Contract Value | 1000xSilver Price quote in USD pr troy ounces |
Trading Currency | USD |
Settlement Currency | USD |
Price Quote | USD per Troy Ounces |
Tick Size | USD 0.005 |
Tick Value | USD 5 |
Settlement Basis | Physical Delivery |
Last Day of Trading | Third last business day of the month preceding the Delivery Month |
Trading Days | Monday through to Friday |
Trading Hours | DGCX Trading Hours |
Trading Months | Mar, May, Jul, Sep and Dec |
New Contract Listing | Business day immediately following last trading day |
Max Order Size | 200 contracts |
Initial Margin based on SPAN | USD 1,100 per lot (subject to change) |
Calendar Spread Margin | Depending upon each class of asset, spread position margin (Calendar spread margin) is charged using the SPAN framework. In case of Silver, 100% benefit is offered on calendar spread margins |
Extra Margin | In time of high volatility, an extra margin as deemed fit by the Exchange may be imposed on all open positions |
Delivery Margin | Five (5) times of the Initial Margins |
Daily Price Movement limit | No Limits* |
Delivery Mechansim Details | |
Delivery Unit | 30 Kilograms cast in one bar of 1,000 troy ounces (10% more or less) |
Deliverable Quality | Minimum 0.999 fineness – Note 2* |
Exchange of Futures for Physical (EFP) | EFP (Exchange of Futures of Physical) – a mechanism to exchange Futures for Spot, and Spot for Futures will be available |
Approved CMI / Assayers | Names as listed on the DGCX/DCCC websites |
Approved Brands | Names as listed on the DGCX/DCCC websites |
Approved Refiners | Names as listed on the DGCX/DCCC websites |
Approved Vaults | Names as listed on the DGCX/DCCC websites |
Delivery Period | First through Fifth Delivery Day of the Delivery Month |
First Notice Day | Business Day immediately preceding First Delivery Day |
Last Notice Day | Business Day immediately preceding Fifth Delivery Day |
Delivery Process | The Matching of Buyers and Sellers for Gold delivery will be completed on a time priority basis upon receipt of their Tender/ Delivery Notices |
Vault Charges | Rates applicable as published on the DGCX website |
Daily Settlement Price | As per DGCX Notice # COMP-2008-014 dated April 22, 2008 |
Delivery Instrument | Warrant |
Option for Cash Settlement | The Final Silver cash settlement price for Silver Futures at the Close on the Last Day of Trading shall be the settlement price as made public by COMEX for the delivery month which corresponds to the applicable DGCX Delivery Month |