Margin Information
In order to protect Clearing Members from counter-party credit risk, DCCC has established a robust Risk Management framework. The Risk Management framework provided by DCCC is underpinned by a system of initial margin, daily marking-to-market procedures and additional margins
Initial Margin Rates and Associated Margin Credits
The Initial Margin (IM) rates and associated margin credits detailed below are effective on and from: 6 September 2023
| Contract Group | Contract Code | Contract Name | Currency | New IM Rate as of 13-September-2023 | IM Rate as of 10-August-2023 |
|---|---|---|---|---|---|
| FX Currency Futures | DAUD | Australian Dollar/US Dollar Futures | USD | 850 | 850 |
| FX Currency Futures | DCAD | Canadian Dollar/US Dollar Futures | USD | 800 | 750 |
| FX Currency Futures | DCHF | Swiss Franc/US Dollar Futures | USD | 1,000 | 1,000 |
| FX Currency Futures | DEUR | Euro/US Dollar Futures | USD | 950 | 950 |
| FX Currency Futures | DGBP | Pound Sterling/US Dollar Futures | USD | 1,300 | 1,300 |
| FX Currency Futures | DJPY | Japanese Yen/US Dollar Futures | USD | 900 | 950 |
| FX Currency Futures | DINRI | Indian Rupee "Quanto" | USD | 170 | 170 |
| FX Currency Futures | DINRM | Indian Rupee Mini /US Dollar Futures | USD | 50 | 50 |
| FX Currency Futures | DINRW | Indian Rupee/USD Weekly Futures | USD | 500 | 500 |
| FX Currency Futures | DILS | Israeli Shekel Futures | USD | 500 | 500 |
| FX Currency Futures | DPKR | Pakistani Rupee/USD Futures | USD | 350 | 350 |
| FX Currency Futures | DUSDZAR | US Dollar/South African Rand Futures | ZAR | 37,800 | 37,650 |
| FX Currency Futures | DUSDCNH | US Dollar/Chinese Yuan | CNH | 21,850 | 21,850 |
| FX Currency Options | DINR | Indian Rupee/USD Futures/Options* | USD | 500 | 500 |
| Precious Metals | DG | Gold Futures | USD | 2,200 | 2,250 |
| Precious Metals | DGSG | Shariah Compliant Spot Gold | USD | 2,200 | 2,250 |
| Precious Metals | DGFC | Daily Gold Futures | USD | 27,250 | 27,600 |
| Precious Metals | DIG | India Gold "Quanto" | USD | 2,100 | 2,100 |
| Precious Metals | DS | Silver Futures | USD | 1,750 | 1,750 |
| Precious Metals | DPG | Physical Gold Futures | USD | 54,400 | 55,150 |
| Precious Metals | DSG | Daily Spot Gold Futures | USD | 54,400 | 55,150 |
| Energy | DWTI | WTI Crude Oil Futures | USD | 9,200 | 9,000 |
| Energy | DWTIM | Mini WTI Crude Oil Futures | USD | 920 | 900 |
| Energy | DBRC | Brent Crude Oil Futures | USD | 8,700 | 8,550 |
| Base Metals | DCU | Copper Futures | USD | 2,100 | 2,100 |
| US Equity Futures | DAAPL | APPLE | USD | 1,450 | 1,450 |
| US Equity Futures | DFB | USD | 2,250 | 2,450 | |
| US Equity Futures | DGOOGL | USD | 75 | 75 | |
| US Equity Futures | DJPM | JP MORGAN | USD | 2,250 | 2,400 |
| US Equity Futures | DMSFT | MICROSOFT | USD | 5,050 | 5,050 |
| Indian Equity Futures | DADANIPORTS | Adani Ports and Special Economic Zone Ltd. | USD | 1,500 | 1,500 |
| Indian Equity Futures | DASIANPAINT | Asian Paints Ltd. | USD | 3,400 | 3,400 |
| Indian Equity Futures | DAXSB | Axis Bank | USD | 2,000 | 2,000 |
| Indian Equity Futures | DBAJAJAUTO | Bajaj Auto Ltd. | USD | 900 | 900 |
| Indian Equity Futures | DBAJFINANCE | Bajaj Finance Ltd | USD | 7,200 | 7,200 |
| Indian Equity Futures | DBAJAJFINSV | Bajaj Finserv Ltd | USD | 300 | 300 |
| Indian Equity Futures | DBPCL | Bharat Petroleum Corporation Ltd. | USD | 700 | 700 |
| Indian Equity Futures | DBHARTIARTL | Bharti Airtel Ltd. | USD | 1,750 | 1,750 |
| Indian Equity Futures | DBRITANNIA | Britannia Industries Ltd | USD | 1,050 | 1,050 |
| Indian Equity Futures | DCIPLA | Cipla Ltd. | USD | 2,550 | 2,400 |
| Indian Equity Futures | DCOALINDIA | Coal India Ltd. | USD | 1,150 | 1,150 |
| Indian Equity Futures | DDIVISLAB | Divis Laboratories Ltd | USD | 750 | 750 |
| Indian Equity Futures | DDRREDDY | Dr. Reddy's Laboratories Ltd. | USD | 1,050 | 1,050 |
| Indian Equity Futures | DEICHERMOT | Eicher Motors Ltd. | USD | 750 | 750 |
| Indian Equity Futures | DGRASIM | Grasim Industries Ltd | USD | 3,600 | 3,750 |
| Indian Equity Futures | DHCLTECH | HCL Technologies Ltd. | USD | 2,350 | 2,350 |
| Indian Equity Futures | DHDFCB | HDFC BANK | USD | 1,750 | 1,750 |
| Indian Equity Futures | DHEROMOTOCO | Hero MotoCorp Ltd. | USD | 600 | 600 |
| Indian Equity Futures | DHINDALCO | Hindalco Industries Ltd. | USD | 2,350 | 2,350 |
| Indian Equity Futures | DHINDUNILVR | Hindustan Unilever Ltd. | USD | 2,700 | 2,700 |
| Indian Equity Futures | DITC | I T C Ltd. | USD | 2,250 | 2,250 |
| Indian Equity Futures | DICICIBC | ICICI BANK | USD | 4,800 | 5,050 |
| Indian Equity Futures | DINDUSINDBK | IndusInd Bank Ltd. | USD | 1,400 | 1,400 |
| Indian Equity Futures | DINFO | Infosys | USD | 2,900 | 2,700 |
| Indian Equity Futures | DJSWSTEEL | JSW Steel Limited | USD | 3,950 | 4,150 |
| Indian Equity Futures | DKOTAKBANK | Kotak Mahindra Bank Ltd. | USD | 1,900 | 1,900 |
| Indian Equity Futures | DLT | L&T | USD | 2,700 | 2,700 |
| Indian Equity Futures | DMNM | Mahindra & Mahindra Ltd. | USD | 3,200 | 2,950 |
| Indian Equity Futures | DMSIL | Maruti Suzuki | USD | 2,000 | 2,000 |
| Indian Equity Futures | DNESTLEIND | Nestle India Limited | USD | 4,600 | 4,600 |
| Indian Equity Futures | DNTPC | NTPC Ltd. | USD | 2,200 | 2,200 |
| Indian Equity Futures | DONGC | Oil & Natural Gas Corporation Ltd. | USD | 850 | 850 |
| Indian Equity Futures | DPOWERGRID | Power Grid Corporation of India Ltd. | USD | 1,300 | 1,300 |
| Indian Equity Futures | DRIL | Reliance | USD | 2,600 | 2,600 |
| Indian Equity Futures | DSBIN | SBI | USD | 2,950 | 2,950 |
| Indian Equity Futures | DSBILIFE | SBI Life Insurance Company Ltd | USD | 2,650 | 2,650 |
| Indian Equity Futures | DSUNPHARMA | Sun Pharmaceutical Industries Ltd. | USD | 2,150 | 2,150 |
| Indian Equity Futures | DTTMT | Tata Motors Ltd | USD | 1,200 | 1,200 |
| Indian Equity Futures | DTATASTEEL | Tata Steel Ltd. | USD | 250 | 250 |
| Indian Equity Futures | DTCS | TCS | USD | 3,350 | 3,350 |
| Indian Equity Futures | DTECHM | Tech Mahindra Ltd. | USD | 2,450 | 2,250 |
| Indian Equity Futures | DTITAN | Titan Company Limited | USD | 3,100 | 3,100 |
| Indian Equity Futures | DULTRACEMCO | UltraTech Cement Ltd. | USD | 1,700 | 1,700 |
| Indian Equity Futures | DUPL | UPL Ltd | USD | 1,450 | 1,450 |
| Indian Equity Futures | DWIPRO | Wipro Ltd. | USD | 1,950 | 1,950 |
Initial Margin Credits
The following inter-commodity spread margin credits are effective on and from: 10 October 2022
| Priority | Credit Rate % as of 10-Oct-2022 | Credit Rate % as of 23-Feb-2021 | Leg A | Contract Code Leg A | Leg B | Contract Code Leg B | Position type* | Delta Leg A | Delta Leg B |
|---|---|---|---|---|---|---|---|---|---|
| 1 | 100 | 100 | Indian Rupee | DINR | Indian Rupee Mini | DINRM | Long-Short | 1 | 10 |
| 2 | 100 | 100 | WTI Crude Oil Futures | DWTI | Mini WTI Crude Oil Futures | DWTIM | Long-Short | 1 | 10 |
| 3 | 95 | 95 | Indian Rupee | DINR | Indian Rupee Quanto | DINRI | Long-Long | 1 | 3 |
| 4 | 95 | 95 | Indian Rupee Mini | DINRM | Indian Rupee Quanto | DINRI | Long-Long | 10 | 3 |
| 5 | 90 | 95 | Australian Dollar | DAUD | AUD Rolling | SPFAUD | Long-Short | 1 | 5 |
| 6 | 85 | 90 | Pound Sterling | DGBP | GBP Rolling | SPFGBP | Long-Short | 1 | 5 |
| 7 | 80 | 80 | Euro | DEUR | EUR Rolling | SPFEUR | Long-Short | 1 | 5 |
| 8 | 75 | 75 | Indian Rupee Weekly | DINRW | Indian Rupee | DINR | Long-Short | 1 | 1 |
| 9 | 75 | 75 | Indian Rupee Weekly | DINRW | Indian Rupee Mini | DINRM | Long-Short | 1 | 10 |
| 10 | 75 | 75 | Indian Rupee Weekly | DINRW | Indian Rupee Quanto | DINRI | Long-Long | 1 | 3 |
| 11 | 60 | 60 | WTI Crude Oil Futures | DWTI | Brent Crude Oil Futures | DBRC | Long-Short | 1 | 1 |
| 12 | 60 | 60 | Mini WTI Crude Oil Futures | DWTIM | Brent Crude Oil Futures | DBRC | Long-Short | 10 | 1 |
| 13 | 55 | 55 | Gold Futures | DG | Silver Futures | DS | Long-Short | 1 | 2 |
| 14 | 50 | 50 | Gold Futures | DG | India Gold Quanto | DIG | Long-Short | 2 | 3 |
Calendar Spread Charge
The following Intra-commodity Calendar Spread charges are effective on and from: 12 January 2023
| Contract Group | Contract Code | Contract Name | Currency | Calendar Spread Charge as of 12-Jan-2023 |
|---|---|---|---|---|
| FX Currency Futures | DAUD | Australian Dollar/US Dollar Futures | USD | 140 |
| FX Currency Futures | DCAD | Canadian Dollar/US Dollar Futures | USD | 80 |
| FX Currency Futures | DCHF | Swiss Franc/US Dollar Futures | USD | 160 |
| FX Currency Futures | DEUR | Euro/US Dollar Futures | USD | 150 |
| FX Currency Futures | DGBP | Pound Sterling/US Dollar Futures | USD | 210 |
| FX Currency Futures | DJPY | Japanese Yen/US Dollar Futures | USD | 190 |
| FX Currency Futures | DINR | Indian Rupee/USD Futures | USD | 4 |
| FX Currency Futures | DINRI | Indian Rupee "Quanto" | USD | 4 |
| FX Currency Futures | DINRM | Indian Rupee Mini /US Dollar Futures | USD | 4 |
| FX Currency Futures | DUSDZAR | US Dollar/South African Rand Futures | ZAR | 4,600 |
| FX Currency Futures | DUSDCNH | US Dollar/Chinese Yuan | CNH | 2,850 |
| Energy | DWTI | WTI Crude Oil Futures | USD | 10,000 |
| Energy | DWTIM | Mini WTI Crude Oil Futures | USD | 1,000 |
| Energy | DBRC | Brent Crude Oil Futures | USD | 1,060 |
| Precious Metals | DG | Gold Futures | USD | 440 |
| Precious Metals | DIG | India Gold "Quanto" | USD | 300 |
| Precious Metals | DS | Silver Futures | USD | 240 |
| Base Metals | DCU | Copper Futures | USD | 190 |
Delivery Margin Rates
The Delivery Margin (DM) rates detailed below are effective on and from: 6 September 2023
| Contract Group | Contract Code | Contract Name | Currency | New DM Rate as of 13-Sep-2023 | Current DM Rate as of 10-Aug-2023 |
|---|---|---|---|---|---|
| FX Currency Futures | DAUD | Australian Dollar/US Dollar Futures | USD | 1,450 | 1,450 |
| FX Currency Futures | DCAD | Canadian Dollar/US Dollar Futures | USD | 1,400 | 1,300 |
| FX Currency Futures | DCHF | Swiss Franc/US Dollar Futures | USD | 1,750 | 1,750 |
| FX Currency Futures | DEUR | Euro/US Dollar Futures | USD | 1,650 | 1,650 |
| FX Currency Futures | DGBP | Pound Sterling/US Dollar Futures | USD | 2,250 | 2,250 |
| FX Currency Futures | DJPY | Japanese Yen/US Dollar Futures | USD | 1,550 | 1,650 |
| Precious Metals | DGSG | Spot Gold Shariah Compliant | USD | 3,100 | 3,200 |
| Precious Metals | DGFC | Daily Gold Futures | USD | 38,550 | 39,050 |
| Precious Metals | DPG | Physical Gold | USD | 76,950 | 78,000 |
| Precious Metals | DSG | Spot Gold | USD | 76,950 | 78,000 |