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Gold June 09, 2022 01:40:13 PM

DGCX to List Israeli Shekel Futures Contract

Paul Ploumis
ScrapMonster Author
The DGCX had received a permit from the Israel Securities Authority (ISA) in 2021.

DGCX to List Israeli Shekel Futures Contract

SEATTLE (Scrap Monster): The Dubai Gold and Commodities Exchange (DGCX) confirmed that it plans to list the Israeli Shekel Futures Contract on 17th June, 2022. Incidentally, the Israeli Shekel has been the top performing emerging markets currency since the Covid-19 pandemic. The move is in line with the exchange’s strategy to diversify its product offerings in the FX space.

The DGCX had received a permit from the Israel Securities Authority (ISA) in 2021, enabling qualified Israeli corporations to become members of the exchange and to use its trading services. Since May last year, the members from that country have also been allowed to act as market makers on the exchange platform.

Furthermore, DGCX announced that it will be participating as silver sponsor at the ‘FOW Trading Israel’ event in Tel Aviv, organized by Futures & Options World (FOW) on 28th June. Les Male, CEO, DGCX will speak in a vital panel discussion on cross-border opportunities.

Male noted that the launch of the new Futures Contract is a major step that will build on the UAE’s strategic relationship with Israel. The renewed ties with the second largest trading hub after the U.S. will lead to strong currency volume growth over the coming years, he added.

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