DAX (EFDX)
The DAX-future is a future contract of the german index of stocks (DAX), the most important stock index of DTB (Deutsche boerse) in Germany.
The DAX-index is composed of 30 german companies and each companie has his own part in it.
The contract is traded on the future market of Eurex.
Summary Contract Specifications
- Unit of trading : 25
- Contract size : EUR 25 x the level of the DAX-index
- Delivery months : March, June, September and December
- Quotation : In points (each full point = EUR 25 per contract)
- Minimum price movement : 0,50 points (= EUR 12,5 per contract)(tick size and value)
Trading example:
- The Dax-index at 5.873.
- The value of the future contract is 5.873 x 25 € = 146.825 €.
- Buy at 5.873 and sell at 5.893.
- The minimum price movement of 'tick' is 0,50 points.
- The tickvalue or 0,50 points is 12,5 €
- From 5.873 to 5.893 = 20 index points or 40 ticks @ 12,5 € = 500 €
When the DAX goes from 5.873 € to 5.893 € this equals a profit of 500 € on the DAX-index.
