Futures trading was once a way for farmers to hedge against price movements and to guarantee themselves a stable income. However, in the past decade, futures trading revolutionized the way investors and speculators profited. Trading in the futures market is a golden opportunity for traders to not only hedge against price movement, but to also profit in large amounts through market speculation.
When deciding which futures contract to trade, there are many questions to keep in mind. These include: What are the future contract’s margin requirements? How about contract size and levels of liquidity of the futures contract? What is the duration of the future’s contract? With PCM International, you can get the answers to all your questions.
ICICI stands for Industrial Credit and Investment Corporation of India, an Indian financial institution. ICICI was initially a joint venture of the World Bank, public sector insurance companies, and Indian public sector banks with the goal to provide project financing to the Indian industry.
ICICI Bank is one of India’s most popular stocks in the banking sector. This large Cap Corporation is headquartered in Mumbai and was founded in 1994. In 2014, the bank was announced as India’s second largest bank based on assets and third in terms of market capitalization. ICICI Bank has over 4450 representative branches in 18 countries over seas. In 2000, ICICI Bank became the first Indian bank to be listed on the New York Stock Exchange.
The main business segments in which the bank operates are retail banking, wholesale banking, insurance and treasury.
Vision
To be the leading provider of financial services in India and a major global bank
Mission
• Be the banker of first choice for customers by delivering high quality, worldclass products and services
• Expand the frontiers of the business globally
• Play a proactive role in the full realization of India’s potential
• Maintain a healthy financial profile and diversify earnings across businesses and geographies.
• Maintain high standards of governance and ethics.
ICICI Bank Data*
-Net income: 128.2 billion INR
-Total Equity: 5.056 billion INR
-Total Revenue: 673994 million INR
-Market Capitalization (RS CR): 151758
*Based on an annual report (2016)
| Contract | Parameters |
|---|---|
| DGCX Contract Symbol | DICICIBC |
| Underlying Equity | ICICI BANK LTD. |
| Underlying Country | India |
| Contract Size | 10 |
| Notional Contract Value | (Price * Contract Size) in USD |
| Price Quote | Underlying Equity price expressed in USD (example: Bid: 265.1 / Ask 265.2) |
| Minimum Tick Size | 0.1 |
| Tick Value | USD 1 |
| Trading Days | Monday through Friday |
| Trading Hours | 07:00 - 23:30 Hours Dubai time (GMT+4) |
| Trading Months | First two (2) serial months and 1 calendar spread |
| Last Trading Day ** | Last Thursday of the calendar month |
| Cash Settlement Day** | Business day following the Last Trading Day |
| New Contract Listing | Business day immediately following the Last Trading Day |
| Final Cash Settlement Price Basis |
Based on the market closing price of the Underlying Equity on the Last Trading Day in the Underlying Country (source: public domain) |
| Settlement Basis | Cash settled in USD |
| Wholesale Trades | Minimum permitted block size is 100 lots |
| Max Open Position Limit | As determined by the Exchange from time to time |
| Max Order Size | 1,000 lots |
| Daily Price Movement limit | No Limit, Note 1* |
| Initial Margin based on SPAN | USD 400 (Based on SPAN, subject to change from time to time) |
| Calendar Spread Margin | 100% benefit is offered on calendar spread positions |
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