Initial Margins

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 GroupContract CodeContract NameCurrencyNew IM Rate as of 13-September-2023IM Rate as of 10-August-2023
FX Currency FuturesDAUDAustralian Dollar/US Dollar FuturesUSD850850
FX Currency FuturesDCADCanadian Dollar/US Dollar FuturesUSD800750
FX Currency FuturesDCHFSwiss Franc/US Dollar FuturesUSD1,0001,000
FX Currency FuturesDEUREuro/US Dollar FuturesUSD950950
FX Currency FuturesDGBPPound Sterling/US Dollar FuturesUSD1,3001,300
FX Currency FuturesDJPYJapanese Yen/US Dollar FuturesUSD900950
FX Currency FuturesDINRIIndian Rupee "Quanto"USD170170
FX Currency FuturesDINRMIndian Rupee Mini /US Dollar FuturesUSD5050
FX Currency FuturesDINRWIndian Rupee/USD Weekly FuturesUSD500500
FX Currency FuturesDILSIsraeli Shekel FuturesUSD500500
FX Currency FuturesDPKRPakistani Rupee/USD FuturesUSD350350
FX Currency FuturesDUSDZARUS Dollar/South African Rand FuturesZAR37,80037,650
FX Currency FuturesDUSDCNHUS Dollar/Chinese YuanCNH21,85021,850
FX Currency OptionsDINRIndian Rupee/USD Futures/Options*USD500500
Precious MetalsDGGold FuturesUSD2,2002,250
Precious MetalsDGSGShariah Compliant Spot GoldUSD2,2002,250
Precious MetalsDGFCDaily Gold FuturesUSD27,25027,600
Precious MetalsDIGIndia Gold "Quanto"USD2,1002,100
Precious MetalsDSSilver FuturesUSD1,7501,750
Precious MetalsDPGPhysical Gold FuturesUSD54,40055,150
Precious MetalsDSGDaily Spot Gold FuturesUSD54,40055,150
EnergyDWTIWTI Crude Oil FuturesUSD9,2009,000
EnergyDWTIMMini WTI Crude Oil FuturesUSD920900
EnergyDBRCBrent Crude Oil FuturesUSD8,7008,550
Base MetalsDCUCopper FuturesUSD2,1002,100
US Equity FuturesDAAPLAPPLEUSD1,4501,450
US Equity FuturesDFBFACEBOOKUSD2,2502,450
US Equity FuturesDJPMJP MORGANUSD2,2502,400
US Equity FuturesDMSFTMICROSOFTUSD5,0505,050
Indian Equity FuturesDADANIPORTSAdani Ports and Special Economic Zone Ltd.USD1,5001,500
Indian Equity FuturesDASIANPAINTAsian Paints Ltd.USD3,4003,400
Indian Equity FuturesDAXSBAxis BankUSD2,0002,000
Indian Equity FuturesDBAJAJAUTOBajaj Auto Ltd.USD900900
Indian Equity FuturesDBAJFINANCEBajaj Finance LtdUSD7,2007,200
Indian Equity FuturesDBAJAJFINSVBajaj Finserv LtdUSD300300
Indian Equity FuturesDBPCLBharat Petroleum Corporation Ltd.USD700700
Indian Equity FuturesDBHARTIARTLBharti Airtel Ltd.USD1,7501,750
Indian Equity FuturesDBRITANNIABritannia Industries LtdUSD1,0501,050
Indian Equity FuturesDCIPLACipla Ltd.USD2,5502,400
Indian Equity FuturesDCOALINDIACoal India Ltd.USD1,1501,150
Indian Equity FuturesDDIVISLABDivis Laboratories LtdUSD750750
Indian Equity FuturesDDRREDDYDr. Reddy's Laboratories Ltd.USD1,0501,050
Indian Equity FuturesDEICHERMOTEicher Motors Ltd.USD750750
Indian Equity FuturesDGRASIMGrasim Industries LtdUSD3,6003,750
Indian Equity FuturesDHCLTECHHCL Technologies Ltd.USD2,3502,350
Indian Equity FuturesDHDFCBHDFC BANKUSD1,7501,750
Indian Equity FuturesDHEROMOTOCOHero MotoCorp Ltd.USD600600
Indian Equity FuturesDHINDALCOHindalco Industries Ltd.USD2,3502,350
Indian Equity FuturesDHINDUNILVRHindustan Unilever Ltd.USD2,7002,700
Indian Equity FuturesDITCI T C Ltd.USD2,2502,250
Indian Equity FuturesDICICIBCICICI BANKUSD4,8005,050
Indian Equity FuturesDINDUSINDBKIndusInd Bank Ltd.USD1,4001,400
Indian Equity FuturesDINFOInfosysUSD2,9002,700
Indian Equity FuturesDJSWSTEELJSW Steel LimitedUSD3,9504,150
Indian Equity FuturesDKOTAKBANKKotak Mahindra Bank Ltd.USD1,9001,900
Indian Equity FuturesDLTL&TUSD2,7002,700
Indian Equity FuturesDMNMMahindra & Mahindra Ltd.USD3,2002,950
Indian Equity FuturesDMSILMaruti SuzukiUSD2,0002,000
Indian Equity FuturesDNESTLEINDNestle India LimitedUSD4,6004,600
Indian Equity FuturesDNTPCNTPC Ltd.USD2,2002,200
Indian Equity FuturesDONGCOil & Natural Gas Corporation Ltd.USD850850
Indian Equity FuturesDPOWERGRIDPower Grid Corporation of India Ltd.USD1,3001,300
Indian Equity FuturesDRILRelianceUSD2,6002,600
Indian Equity FuturesDSBINSBIUSD2,9502,950
Indian Equity FuturesDSBILIFESBI Life Insurance Company LtdUSD2,6502,650
Indian Equity FuturesDSUNPHARMASun Pharmaceutical Industries Ltd.USD2,1502,150
Indian Equity FuturesDTTMTTata Motors LtdUSD1,2001,200
Indian Equity FuturesDTATASTEELTata Steel Ltd.USD250250
Indian Equity FuturesDTCSTCSUSD3,3503,350
Indian Equity FuturesDTECHMTech Mahindra Ltd.USD2,4502,250
Indian Equity FuturesDTITANTitan Company LimitedUSD3,1003,100
Indian Equity FuturesDULTRACEMCOUltraTech Cement Ltd.USD1,7001,700
Indian Equity FuturesDUPLUPL LtdUSD1,4501,450
Indian Equity FuturesDWIPROWipro Ltd.USD1,9501,950

Initial Margin Credits

The following inter-commodity spread margin credits are effective on and from: 10 October 2022

PriorityCredit Rate % as of 10-Oct-2022Credit Rate % as of 23-Feb-2021Leg AContract Code Leg ALeg BContract Code Leg BPosition type*Delta Leg ADelta Leg B
1100100Indian RupeeDINRIndian Rupee MiniDINRMLong-Short110
2100100WTI Crude Oil FuturesDWTIMini WTI Crude Oil FuturesDWTIMLong-Short110
39595Indian RupeeDINRIndian Rupee QuantoDINRILong-Long13
49595Indian Rupee MiniDINRMIndian Rupee QuantoDINRILong-Long103
59095Australian DollarDAUDAUD RollingSPFAUDLong-Short15
68590Pound SterlingDGBPGBP RollingSPFGBPLong-Short15
78080EuroDEUREUR RollingSPFEURLong-Short15
87575Indian Rupee WeeklyDINRWIndian RupeeDINRLong-Short11
97575Indian Rupee WeeklyDINRWIndian Rupee MiniDINRMLong-Short110
107575Indian Rupee WeeklyDINRWIndian Rupee QuantoDINRILong-Long13
116060WTI Crude Oil FuturesDWTIBrent Crude Oil FuturesDBRCLong-Short11
126060Mini WTI Crude Oil FuturesDWTIMBrent Crude Oil FuturesDBRCLong-Short101
135555Gold FuturesDGSilver FuturesDSLong-Short12
145050Gold FuturesDGIndia Gold QuantoDIGLong-Short23

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