futuresspecs

ICE US · Currencies · Futures

U.S. Dollar Index Futures (DX)

ICE U.S. Dollar Index futures (DX) track the dollar against a basket of six major currencies (euro-weighted): $1,000 × the index.

Tick size / value
0.005 pts = $5.00
Point value
$1,000 / pt
Active contract
DXZ26 Dec 2026
Next roll
Dec 7 in 69 days
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01

Contract specifications

Exchange
ICE Futures U.S.
Underlying
U.S. Dollar Index (USDX)
Contract unit
$1,000 × index
Minimum tick
0.005 index points = $5.00 per contract
Point value
$1,000.00 per index point · 200 ticks per pt
Price quotation
Index points
Contract months
Quarterly: March (H), June (M), September (U), December (Z)
Settlement
Settles on the third Wednesday of the contract month
Final settlement
Final settlement on the third Wednesday of the contract month
Termination of trading
Two business days prior to the third Wednesday of the contract month
Globex code
DX

Source: ICE Futures U.S. contract specifications · reviewed Sep 30, 2026

02

Roll dates, first notice & expiration

ContractRoll dateFirst noticeLast trading dayDays left
DXZ26 Dec 2026 Active Mon, Dec 7, 2026 n/a Mon, Dec 14, 2026 76
DXH27 Mar 2027 Mon, Mar 8, 2027 n/a Mon, Mar 15, 2027 167
DXM27 Jun 2027 Mon, Jun 7, 2027 n/a Mon, Jun 14, 2027 258
DXU27 Sep 2027 Fri, Sep 3, 2027 n/a Mon, Sep 13, 2027 349
DXZ27 Dec 2027 Mon, Dec 6, 2027 n/a Mon, Dec 13, 2027 440
DXH28 Mar 2028 Mon, Mar 6, 2028 n/a Mon, Mar 13, 2028 531

Roll. Liquidity moves to the next quarter about a week before expiry. The date shown is five business days before the last trading day.

First notice day. No first notice day. Brokers require positions to be closed or rolled before the last trading day.

Last trading day. Second business day before the third Wednesday of the contract month.

US exchange holidays ahead: Nov 26 · Dec 25 · Jan 1 · Jan 18 · Feb 15 · Mar 26 · May 31 · Jun 18

Calculated from exchange rules and the US exchange holiday calendar. Confirm with the ICE Futures U.S. expiration calendar.

03

Trading hours (ET / CT)

SessionEastern (ET)Central (CT)Your time
ICE trading hoursSun–Fri 8:00 p.m. – 5:00 p.m.Sun–Fri 7:00 p.m. – 4:00 p.m. –

Holiday hours differ – check the exchange holiday calendar before trading around US holidays. ET is New York time, CT is Chicago time (always one hour behind ET).

04

Margins

ICE Futures U.S. maintenance margin per contract, outright position · as of Sep 30, 2026
ContractMaintenance
DXZ26 Dec 2026 Active $1,974
DXH27 Mar 2027 $1,988
Jun 2027 – Sep 2027 $1,988

Exchange margins are the minimum your clearing firm must collect for positions held overnight. Brokers may require more – and usually offer much lower day-trading margins for positions closed before the session ends. A neutral broker day-margin comparison is coming soon.

05

COT positioning

CFTC Traders in Financial Futures (TFF), futures only · positions as of Tue, Sep 22, 2026 · released Sep 25, 2026

Dealers / Intermediaries

−15,538 net contracts

−334 vs. prior week · −33.5% of OI

COT Index 26 wk 58
COT Index 3 yr 25

Movement (6 wk): +25

Banks and dealers on the other side of client flow. Tend to act contrarian – selling strength, buying weakness.

Asset Managers

+16,772 net contracts

+970 vs. prior week · +36.2% of OI

COT Index 26 wk 65
COT Index 3 yr 84

Movement (6 wk): +1

Pension funds, insurers and mutual funds – including currency hedging of foreign holdings.

Leveraged Funds

−4,495 net contracts

+414 vs. prior week · −9.7% of OI

COT Index 26 wk 40
COT Index 3 yr 39

Movement (6 wk): −20

Hedge funds and CTAs. Trend followers – their net position tends to run with price and peaks near turning points.

Net positions, last 3 years contracts, long minus short
Dealers / IntermediariesAsset ManagersLeveraged Funds
COT Index, 3-year window 0 = most net short in 3 years, 100 = most net long · shaded: extreme zones
Dealers / IntermediariesLeveraged Funds
Traders in Financial Futures (TFF) · open interest 46,328 (+2,584 w/w)
GroupLongShortNet Δ 1 wkΔ 4 wkIndex 26 wkIndex 3 yrMove 6 wk
Dealers / Intermediaries 5,31120,849−15,538 −334+11,615 5825+25
Asset Managers 18,9442,172+16,772 +970+2,754 6584+1
Leveraged Funds 12,97717,472−4,495 +414−13,684 4039−20
Other Reportables 3,7042,280+1,424 −1,246−1,366 776−13
Nonreportables 3,3381,501+1,837 +196+681 5273−3
Legacy Report · open interest 46,328 (+2,584 w/w) · WILLCO (26 wk, commercials vs. OI): 48
GroupLongShortNet Δ 1 wkΔ 4 wkIndex 26 wkIndex 3 yrMove 6 wk
Commercials 13,35625,523−12,167 +67+7,671 5431+28
Non-Commercials 27,76817,438+10,330 −263−8,352 4769−29
Nonreportables (small) 3,3381,501+1,837 +196+681 5273−3
Weekly net positions, last 12 reports (Traders in Financial Futures (TFF))
Report dateDealers / IntermediariesAsset ManagersLeveraged FundsOther ReportablesNonreportablesOpen interest
Sep 22, 2026−15,538+16,772−4,495+1,424+1,83746,328
Sep 15, 2026−15,204+15,802−4,909+2,670+1,64143,744
Sep 8, 2026−26,846+16,344+6,186+2,732+1,58457,858
Sep 1, 2026−27,015+16,241+7,133+1,942+1,69950,020
Aug 25, 2026−27,153+14,018+9,189+2,790+1,15647,953
Aug 18, 2026−27,257+14,998+8,112+2,550+1,59747,928
Aug 11, 2026−27,292+16,527+5,772+2,974+2,01949,541
Aug 4, 2026−27,070+18,095+3,849+2,999+2,12752,154
Jul 28, 2026−27,141+21,612−1,601+4,220+2,91058,251
Jul 21, 2026−24,499+19,851−1,938+3,853+2,73353,953
Jul 14, 2026−23,617+22,039−4,866+3,783+2,66153,293
Jul 7, 2026−23,788+21,424−4,454+3,849+2,96953,384
How to read these numbers
  • Net position = long minus short contracts (spread positions excluded).
  • COT Index = where today's net position sits within its range over the window: 100 × (net − min) / (max − min). It is a stochastic, not a percentile. Readings above 80 or below 20 are commonly treated as positioning extremes (after Stephen Briese and Larry Williams).
  • Movement Index = change of the 3-year COT Index over 6 weeks. Moves of ±40 points mark unusually fast repositioning.
  • WILLCO (Legacy report) = COT Index of commercials' net position as a share of open interest, 26-week window.
  • Positions are as of Tuesday and released Friday at 3:30 p.m. ET. COT data shows positioning, not timing – it is context, not a trading signal. Open-interest-based indicators are left out for stock index futures because quarterly expirations distort open interest.

Source: CFTC Public Reporting Environment · contract market code 098662 (USD INDEX - ICE FUTURES U.S.)

06

DX profit & loss calculator

Price change– Ticks– Profit / loss–

Before commissions and exchange fees. Prices round to the nearest tick of 0.005.

07

FAQ

What is the tick value of Dollar Index futures (DX)?

One tick is 0.005 index points, worth $5.00 per contract. A full index point is worth $1,000.

What does the COT Index show?

The COT Index places a group's current net position within its own range over a lookback window: 100 = the most net long in that window, 0 = the most net short. It measures positioning extremes, not timing.