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Index Futures Contract Specification :

MT30 Index Futures
Contract Code SF30 
Underlying Instrument MT30 (MSCI Tadawul 30 Index)
Contract Size SF30 multiplied by SAR 100
Minimum Price Fluctuation–Tick 0.5 points valued at SAR 50
Daily Price Limits 20%
Daily Margin/Premium Settlement
  • All outstanding positions are Mark to Market based on daily settlement price at the end of the day T+0
  • Variation margins has to be settled by the clearing members to Muqassa by next day (T+1) by a prescribed time as outlined in Muqassa Procedure
Daily Settlement Price Daily settlement price of the futures contract shall be based on:
  • The VWAP(volume weighted average price) of last 10 minutes of the trading day, subject to a minimum of 10 trades in last 10 minutes.
  • And if there are less than 10 trades in last 10 minutes then the Exchange shall use the Theoretical Futures Price (TFP)1 to compute the fair value of the contract at the market close
Final Settlement T+02
Final Settlement Price The Final Settlement Price shall be the average value, rounded to the nearest 0.5 of an index point (values of 0.25 or 0.75 and above being rounded upwards), taken at every 15 seconds or at such intervals as may be determined by the Exchange from time to time from 14:00 to 15:00 plus one value after 15:10:30 of the MT30 on the Final Trading Day excepting the 3 highest and 3 lowest values.
Speculative Position Limit
  • Maximum number of net long or net short position to be held for all months combined 10,000
  • Qualified hedgers can hold positions beyond 10,000 contracts subject to Exchange approval upon submission of relevant documents of owning the underlying assets
Price Decimals 2
Contract Months Current month, next month and the next two quarters
Negotiated Deals Yes
Market Making Yes
Trading Hours Pre-open(opening auction): 9:00 - 9:30
Market Open(trading): 9:30 – 15:30
Contract Expiration Third Thursday of the expiry month. If it is a holiday then expiry will move backward to the previous trading day
Margin Multiplier
Type of client Institutions* Tier 1 Individual** Tier 2 Individual***
Margin Multiplier 100% 133% 200%

1: For more details on TFP calculation please visit Tadawul website – Knowledge center
2: Mark to market (MTM) is T+0 and payment is T+1

*Institutions: all institutional and corporate clients as well as Individual DPMs

*Individual DPMs:Saudi individual investment account in which the manager (Authorized Person) makes the buy/sell decisions for its client without referring to the account owner (based on to the agreed terms between them).

**Tier 1 Individuals:Individual Qualified Client is a natural person who fulfills any of the following criteria:

  • Conducted transactions not less than SAR 40m, and not less than 10 transaction in each quarter during last 12 months.
  • Have an average portfolio size of SAR 5m for the preceding 12 months
  • Worked for at least 3 years in financial sectors in a job related to securities’ investments.
  • Hold General Securities Qualification Certificate which is recognized by the Authority.
  • Holds professional certificate that is related to securities business and accredited by an internationally recognized entity

***Tier 2 Individual:Clients who are not under any of the other categories.

Margin Multiplier:is the number by which the minimum percentage margin, required by the Muqassa, have to be multiplied to form the margin required by the clearing member from his clients for newly entered position.