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EUR-USD Futures
Contract Type
Product
Symbol
Instrument Type
Contract Size
Contract Listings
Base Price
Cash settled Futures
EUR-USD Futures contracts
EURUSD
FUTCUR
12,500 EURO
The Exchange will follow a quarterly expiry cycle of March, June,
September and December expiry months. A new contract will be
made available for trading on the first business day of the expiry
month of the near month contract.
At any point of time, there will be at least 2 contracts available for
trading. The Exchange may introduce other maturities of the
quarterly maturity cycle mentioned here subsequently.
Price of an identical maturity international Futures contract on EURUSD currency pair will be used as base price for a newly created
contract.
For all other existing EUR-USD contracts, previous day close price
on the respective contracts will be used as base price.
Minimum Price Movement
(Tick Size)
Price Quotation
Daily Price Limit
Initial margin
Special Margin
USD 0.0001 per EURO, equivalent to USD 1.25 per contract
U.S. dollars per EURO, quoted up to the forth decimal place
Every contract will have an initial DPR of +/- 2% of the previous day
close price / base price.
Members may please refer to Circular No.023/2010/T&S/CuR/6
dated December 09, 2010 for further details on procedure for
relaxation of the Daily Price Range (DPR) of contracts.
3% or the margin level determined based on SPAN, whichever is
maximum
In the presence of additional volatility, a special margin as deemed
suitable by the exchange would be imposed on all open positions.
Settlement
Cash settlement
Position Limits
1,000 Contracts or 5% of the market wide open interest at the client
level and 5,000 Contracts or 10% of the market wide open interest at
the member level, whichever is higher, across all the expiries,
available for trading for EUR-USD currency pair.
Funds Pay In
Funds Pay Out
Daily Settlement Price & Final
Settlement Price Computation
First pay in run to be conducted at 08:30 Hrs. (04:30 Hrs. GMT),
followed by the second run at 11:00 Hrs. Mauritius Time (07:00 Hrs.
GMT) on T+1 day, subject to revision. Any revision of these times
will be conveyed to the Members in Clearing and Settlement
Circulars.
13:00 Hrs. Mauritius Time (09:00 Hrs. GMT) on T+1 day. Any
revision of these times will be conveyed to the Members in Clearing
and Settlement Circulars. Any revision of these times will be
conveyed to the Members in Clearing and Settlement Circulars.
Daily Settlement Price will be the same as close price on the
Exchange and will be computed as per the methodology determined
by the Exchange. Members may refer to the Trading Circular No.
027/2013/T&S/CuR/70 for more details.
On the day of expiry, the EUR-USD spot rate publicly disseminated
by the European Central Bank at 14:15 Hrs. CET will be referred to
as the Final Settlement rate.
The Daily and the Final Settlement Prices so computed will be
suitably rounded off to the nearest multiple of the tick size of the
contracts.
Trading on Bourse Africa Limited will be from 10:00 Hrs. to 22:00
Hrs. Mauritius Time (06:00 Hrs. till 18:00 Hrs. GMT), Monday to
Friday.
Trading hours
Any Trading Holidays / Change in Trading Hours will be
communicated to Market Participants through Trading circulars from
time to time.
On the day of expiry, trading on the expiring contract will halt at
17:15 Hrs. Mauritius Time to match the 14:15 Hrs. (CET) exchange
rate announcement by European Central Bank.
Central Bank to be referred to,
time diff from Mauritius and
the time of declaration of the
exchange rate
European Central Bank declares EUR-USD foreign exchange rates
every day at 14:15 Hrs. CET, which is 2 Hrs. behind the Mauritius
Time during April to October (12:15 Hrs. GMT) and 3 Hrs. behind
the Mauritius Time during November to March (13:15 Hrs. GMT).
Last Trading Day
Two Business days prior to the third Wednesday of the expiring
month.