DGCX to relist Indian rupee options contract
Dubai, July 9, 2014
Dubai Gold and Commodities Exchange (DGCX) has announced that it will re-list its Indian Rupee Options contract, which will restart trading on July 18.
The contract was temporarily suspended in 2013 to facilitate migration to a new trading infrastructure.
DGCX’s new advanced trading infrastructure, built in partnership with leading global financial technology provider Cinnober, will support trading in the options contract. The new EOS platform provides the Exchange the ability to support high volumes in innovative products such as Indian Rupee options.
Gary Anderson, CEO of Dubai Gold and Commodities Exchange said: “The re-listing of the Indian Rupee options contract further widens opportunities to trade Emerging Market contracts on the Exchange. The contract will build on the success of DGCX’s Indian product offering, which has seen significant growth in trading over the past year.
“This year, the DGCX Indian Rupee futures contract increased its share of the total value of Indian Rupee futures traded globally to 40 per cent. The EOS platform, will support the introduction of a range of innovative contracts including the upcoming spot gold contract, as well as new emerging market, equity and agricultural products.”
DGCX is the only exchange outside India to offer trading in both futures and options in the Indian Rupee. Rupee options contracts launched by Indian exchanges have proven to be highly successful, which augurs well for the success of the DGCX Rupee options contract.
Established in 2005, DGCX is the region’s first derivatives exchange and the only one allowing participants to clear and settle transactions within the Gulf region. – TradeArabia News Service