KHALEEJ TIMES, Saturday, May 23, 2020 | Ramadan 30, 1441
DGCX to roll out more forex contracts next month
Dubai Gold and Commodities Exchange (DGCX) will expand its portfolio by
rolling out more forex contracts next months and will emerge stronger in
post-19 period, a senior official said.
"In July, we will be expanding our portfolio of currency products with FX
Rolling contracts - perpetual rolling FX contracts for three currency pairs. We
expect these to be particularly beneficial to our institutional investors by
enabling them to hedge more efficiently during this period of heightened
volatility," said Les Male, CEO of DGCX.
Despite many challenges that lie ahead, Male is confident that the bourse will
emerge even stronger position as it provide its members with new opportunities
to mitigate and manage their risk.
But he didn't disclose what those three currency pairs would be. The bourse
currently trades in around a dozen currency future. The bourse saw robust
trading activity in April, with members increasingly seeking to protect
themselves against volatility and global economic uncertainty. It last month
recorded a surge in trading of its G6 currency portfolio, which registered
year-on-year volume growth of 653.45 per cent.