Solid growth prospects, attractive demographics, stable debt ratios and increasing currency reserves, which rose from $326 billion in early 2016 to $337 billion in early 2017, coupled with a 142% increase in the U.S. dollar/Indian rupee cross over the last 10 years*, confirm that India is on the upswing and that the market is increasing its participation in the Indian growth story.
At CME Group, this momentum is reflected in our INR/USD futures contract – which reached new records of 3,343 lots traded in March 2017, surpassing a previous high of 2,598 in February 2017.
The increasing success of INR/USD futures is driven by more participants and the ability for market participants to manage associated asset class risk impacting the value of the rupee – from Gold, to WTI to the Nifty, all on CME Group exchanges.
Furthermore, the compelling margin offsets available, 35% saving with AUD (1:1 ratio) and 25% savings with S&P 500 (1:4 ratio), create an attractive and efficient solution for the uncleared margin rule changes now affecting the market along with the netting and standardisation of collateral solutions available at CME Group.
*2016 BIS Triannual survey
CME Globex: SIR Bloomberg: SIRA Reuters: 0#SRI:
Bringing together market participants and their liquidity, from pension funds to banks, from hedge funds to corporates, from more than 150 countries nearly 24 hours a day, ready for market-impacting events.
Choose a block or an EFRP where you can still privately negotiate your trades, but submit them directly into our clearing systems to free up credit lines and mitigate bilateral exposure – whether you are trading in India or anywhere else in the world.
Through position-netting and by utilizing the capital and margin efficiencies of cleared and listed FX: 91 futures, 24 options, 26 CSFs and 12 NDFs
$85 billion of daily FX volume and the firm liquidity you need to manage FX risk, from rupee to rand.
|Contract Unit||5,000,000 Indian rupees|
|Minimum Price Fluctuation||0.01 U.S. cents per 100 INR increments ($5.00/tick). Also, trades can occur in 0.005 U.S. cents per 100 INR increments ($2.50/contract) for INR futures intra currency spreads executed on CME Globex®.|
|Price Quotation||U.S. Cents per 100 Indian Rupees
(e.g., 182.75 / 182.79 U.S. Cents per 100 Indian Rupees)
|Trading Hours||Sunday - Friday 5:00 p.m. - 4:00 p.m. CT with a 60-minute break each day beginning at 4:00 p.m.|
|Product Code||CME Globex: SIRCME ClearPort: SIRClearing: SIR|
|Listed Contracts||12 consecutive calendar months (Jan, Feb, Mar, May, Jun, Jul, Aug, Sep, Oct, Dec) plus 4 March quarterly months (2-year maturity range)|
|Settlement Procedures||INR/USD Settlement Procedures|
|Termination Of Trading||Trading terminates at 12:00 noon Mumbai time two Indian business days immediately preceding the last Indian business day of the contact month.|
|Position Limits||CME Position Limits|
|Exchange Rulebook||CME 279|
|Block Minimum||Block Minimum Thresholds|
|Price Limit Or Circuit||Price Limits|
|Vendor Codes||Quote Vendor Symbols Listing|
|Settlement Method||Financially Settled|