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Gold June 25, 2020 08:40:40 PM

DGCX FX Rolling Futures Contracts to Go Live on 6th July

Paul Ploumis
ScrapMonster Author
The new contracts will provide market participants with tools to manage their price risk and exposure to foreign currencies.

DGCX FX Rolling Futures Contracts to Go Live on 6th July

SEATTLE (Scrap Monster): The Dubai Gold and Commodities Exchange (DGCX) confirmed date of launch of its first FX rolling futures. The three contracts- Euro (EUR), Pound Sterling (GBP) and Australian Dollar (AUD) against the US Dollar (USD) will be launched on Monday 6 July, 2020. In addition, the exchange announced further expansion of its suite of currency products.

The new contracts will provide market participants with tools to manage their price risk and exposure to foreign currencies. In the event of open positions existing at the close of the trading day, the FX contracts will be automatically rolled over. Moreover, the contracts will help traders to gain greater access to international currency markets.

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The FX rolling futures contracts will be priced in USD and denominated in amounts of 10,000 of the non-USD currency. All trades in the new contract will be cleared and settled by the Dubai Commodities Clearing Corporation (DCCC)- the exchange’s wholly-owned and regulated clearing house.

Les Male, CEO, DGCX noted that the new contracts will be suitable for all traders, especially for institutional investors, because it promises to provide protection against swings in foreign exchange rates, particularly during these periods of extreme market volatility.

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