DGCX to Launch World's First PKR Futures Contract

SEATTLE (Scrap Monster): The Dubai Gold & Commodities Exchange (DGCX) announced launch of Pakistani Rupee (PKR) Futures Contract. This is the first-of-its-kind contract on any regulated exchange in the world. The launch will enable market participants to trade in the Pakistani market.

According to exchange press release, the new contract will allow market participants to hedge exposure to the Pakistani Rupee on a globally regulated and secure platform. The Dubai Commodities Clearing Corporation (DCCC) will provide margin offsets for calendar spreads in PKR Futures. The contract is all set to go live on 16^th April, 2021, it added.

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The contract size is 2,000,000 of base currency (PKR) and will be traded and cash settled in US Dollars (USD). The contract will be open for trade from 07:00 to 23:55, Gulf Standard Time.

Commenting on the new product launch, Les Male, CEO, DGCX said that the launch of the much-awaited PKR Futures Contract will further diversify its currencies portfolio and provide its customers with additional short-term hedging and arbitrage opportunities. The exchange is highly confident that the launch will play a key role in its future growth strategy. Furthermore, it looks forward to launch similar initiatives in future, he added.