Dubai Gold and Commodities Exchange (DGCX) announced the re-listing of its Indian Rupee Options contract. The contract, which was temporarily suspended in 2013 to facilitate migration to a new trading infrastructure, will restart trading on July 18.
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%.
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.
Each DGCX Indian Rupee Options contract represents one Indian Rupee Futures contract of 2 million Rupees. Prices are quoted in US Cents per 100 Indian Rupees, with a minimum premium fluctuation of 0.000001 US Dollars per Rupee ($2 per contract). The Indian Rupee Options contract can be traded Monday through Friday from 7.00 AM to 11.30 PM UAE time.
Manager – Communication & Marketing, DGCX
Tel: +971 (0)4 361 1614; Email: [email protected]
Baiju Francis / Dhanya Isaac
Weber Shandwick PR
Tel: +971 (0) 4 445 4222; Email: [email protected]
Wednesday, July 9- 2014 @ 11:43 UAE local time (GMT+4) Replication or redistribution in whole or in part is expressly prohibited without the prior written consent of Mediaquest FZ LLC.