Offshore Chinese Yuan

Offshore Chinese Yuan/US Dollar

Contract Parameters
Underlying Offshore Chinese Yuan/US Dollar
Contract Size USD 50,000
Trading Currency Chinese Yuan (CNH)
Settlement Currency US Dollars (USD)
Price Quote CNH for 1 USD (e.g. CNH 6.3680 / 6.3682 Per 1 USD)
Minimum Tick Size 0.0002 CNH
Tick Value CNH 10
Trading Days Monday to Friday.
Trading Hours 07:00 - 23:30 Hours UAE time (GMT+4).
Trading Months First 12 consecutive serial months
Last Trading Day Second last business day of the contract month.
New Contract Listing Business day immediately following the last day of trading.
Daily Variation Margin (VM) payment Based on Spot Prices available for USD-CNH at the end of DGCX Trading Hours.
Final Cash Settlement Price Basis Open Positions at expiry of contract shall be settled in US Dollars as per the Final Cash Settlement Price (FCSP) declared by the Exchange. The Final Cash Settlement Price shall be the Spot USD/CNY (HK) Fixing published by the Treasury Markets Association of Hong Kong at approximately 11.15 Hour Hong Kong time on the Last Trading Day, rounded to the nearest tick size.
Settlement basis Cash Settled.
Daily Price Movement Limit No price limit.
Maximum Order Size 500 contracts for Banks and Institutions promoted by Banks.All other entities 200 contracts.
Initial Margin based on SPAN "The Initial Margin will be denominated in CNH and the same shall be converted into equivalent USD at the prevalent Spot market rate of USD/CNH to display Initial Margin Utilization in USD terms.
At the outset, Initial Margin shall be CNH 6,500 per contract subject to change from time to time."
Indicative VM Indicative VM on EOS-Clear will be displayed in USD as per the prevalent spot market rate for USD/CNH.DCCC shall update the spot rates for USD/CNH intraday for at least 3 times at 06:00 hrs, 15:00 hrs and end of DGCX Trading Hours.
Calendar Spread Benefit 100% Calendar Spread benefit
Delivery Period Margin Not applicable
Spot rate Shall be taken from available market data sources like Bloomberg and Reuters.

Note 1*: *: For the avoidance of ‘fat finger’ errors price band shall be 5% from previous settlement price e.g. if previous settlement price is USD 435.6, the price band is USD 22 i.e. from (USD 413.6 to USD 457.6). Exchange shall relax the intra-day price range for the prices of the contract approaching the 5% limit