You are on page 1of 2

right time.

right place

Silver
The Change Has Come
The Silver Bullet: Settling Differences
www.dgcx.ae

In response to Members and market demand, DGCX has gained regulatory

DGCX
approval for changing its silver contract specification on final settlement
price (FSP), to reflect that of the North American market. This shall enhance
the growing interest in the continuing development of the precious metals Dubai Gold
segment, for which the local and regional community is highly involved. & Commodities Exchange
DGCX Dubai Gold
& Commodities Exchange

Liquidity, Spread and Depth


The introduction of market makers for the silver contract's calendar month which has effectivity of the change in FSP, shall mean
competitive price spreads and depth. Consistency in quoted bid-offer volume with at least three depth levels shall ensure
demand appetite is met.

Margin Benefit on Calendar Spread


Encouraging liquidity on the farther month contract, 100% benet is offered on calendar spread position, while implied-in and
implied-out strategies open up opportunities.

Symbol DS
Contract Size 1,000 troy ounces
Trading Months Mar, July, Sep and Dec
Last Trading Day Third last Business Day of the month falling immediately before the Delivery Month
New Contract Listing Business Day immediately following Last Trading Day
Price Quote US$ quoted in Cents per troy ounce
Tick Size US$ 0.005 (US $ 5 per contract)
Trading Days Monday through to Friday
Trading Hours 07:00 - 23:30 Hours Dubai time (GMT+4)
Maximum Order Size 200 Lots
Price Limit US$ quoted in Cents - 75 Cents - Note 1*
Wholesale Trades EFS, EFP, Block trade facilities available
Initial Margin US $ 1,400 per contract (subject to change)
Calendar Spread Position Margin Depending upon each class of asset, spread position margin (Calendar spread margin) is charged using
SPAN framework. In case of Silver, 100% benet is offered on calendar spread position
Option for Cash Settlement Open Positions that have not been closed out on the Last Day of Trading are subject to cash settlement
as per Silver cash settlement price declared by the Exchange]
Silver Cash Settlement Price 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

Note 1*: If price breaches the daily price movement limit, trading in particular contract shall continue, with the new trading price range without
any cooling period

Further Information
Dubai Gold & Commodites Exchange

Tel: +971 (0)4 361 1616 Email: info@dgcx.ae Web: www.dgcx.ae


Facebook@ dgcxcommunity Twitter@ dgcx LinkedIn@ dgcxcomm

Reference herein to DGCX shall mean the Dubai Gold & Commodities Exchange DMCC. This publication is for information only and does not constitute an offer, solicitation or
recommendation to acquire or dispose of any investment or to engage in any other transaction. Neither DGCX nor its affiliates, associates, representatives, directors or
employees, shall be responsible for any loss or damage that may arise to any person due to any action taken on the basis of this publication. DGCX shall not be responsible for
any errors or omissions contained in this publication. All information, descriptions, examples and calculations contained in this publication are for guidance purposes only and
should not be treated as denitive. No part of this publication may be redistributed or reproduced without written permission from DGCX. Those wishing either to trade futures
and options contracts on DGCX, or to offer and sell them to others should establish their regulatory position before doing so. DGCX is regulated by the Emirates Securities and
Commodities Authority (ESCA). ESCA is a member of the International Organisation of Securities Commissions (IOSCO).

www.dgcx.ae