Contract Specification

Gold Futures Contract Specification

Symbol DG
Contract Size 32 troy ounces. (1 kg)
Quality Specification 0.995 purity, as per Dubai Good Delivery Standard
Trading Months Feb, Apr, Jun, Aug, Oct and Dec
Last Trading Day Third last business day of the month preceding the Delivery Month
New Contract Listing Business day immediately following last trading day
Price Quote US$ per troy ounce
Tick Size US$ 0.10 (US $ 3.2 per contract)
Price Movement Limit US$ 30 – Note 1*
Max Order Size 200 contracts
Trading Days Monday through to Friday
Trading Hours 07:00 – 23:30 Hours Dubai time (GMT+4)
Wholesale Trades EFS, EFP, Block trade facilities available

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

Initial Margin based on SPAN 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 the SPAN framework. In case of Gold, 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 Period Margin US$ 7,000 per contract is applicable during the last six trading days for all open long or short positions that have not been liquidated
Delivery related information
Delivery Unit 1 Kg (31.99 troy ounces)
Deliverable Weight 1 Kilogram cast in one bar
Deliverable Quality 0.995 fineness
Approved CMI / Assayers Names as listed on the DGCX website
Approved Refiners Names as listed on the DGCX website
Approved Vaults Names as listed on the DGCX website
Delivery Period First day of the delivery month
Notice Day Last Day of trading of the Delivery Month
Delivery Process The Matching of Buyers and Sellers fo Gold delivery will be completed on a time priority basis upon receipt of thier Tendar/ Delivery Notices
Vault charges Rates applicable as published on the DGCX website
Delivery Instrument Dubai Gold Receipt (i.e. Standard DGR along with validated Refiner’s certificate or CMI-Certified DGR only)
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 gold cash settlement price declared by the Exchange


Options on Gold Futures Contract Specification


Trading Symbol DGO
Contract Size One DGCX Gold Futures contract
Price Quotation US Dollars and cents per fine ounce
Tick Size US$ 0.10 per troy ounce
Maximum Daily Price Fluctuation No Daily Limit
Delivery Months The nearest three contract months (February, April, June, August, October and December) are available at all times
The options are American-style and can be exercised at any time up to expiration. On the first day of trading for any options contract month, there will be a minimum of 7 strike prices each for puts and calls
Last Trading Day Last trading day for gold futures options are the tenth business day prior to the start of tender period of the underlying Gold futures contract
If the last trading day falls on a Friday or an Exchange holiday, last trading day occurs on the previous business day
New Contract Listing Business day immediately following the last trading day
Exercise of Options On the last trading day, all in-the-money options are exercised automatically against Settlement Price, however, should a member choose not to exercise an in-the-money option, the member is required to notify the Exchange latest by 23:45 hrs (15 minutes after trading ceases)
All out-of-the-money options automatically expire worthless and they can not be exercised
Strike Prices For each option contract, the strike prices are at increments of US$10.00
Position Limit Initially, same as specified for Gold Futures contract
Margin Requirement Buyer pays full premium, while the seller is margined on the SPAN basis
Trading Hours 07:00 – 23:30 Hours Dubai time (GMT+4)
Trading Days Monday through to Friday

Option Settlement Premium

  1. For traded contracts, The Exchange shall determine the Option Settlement Premium based on following order:
    • Value Weighted Average Price (VWAP) of trades executed in last 10 minutes for the trading day provided there were at least 15 trades executed during the last 10 minutes
    • VWAP of last 15 trades executed during the day provided 15 trades are executed
    • The Options Settlement Premium as declared by a Price Committee consisting of Exchange / Clearing Corporation officials
  2. For contracts not traded on a given trading day, Options Settlement Premium will be determined based on theoretical prices