Gary Anderson, CEO, DGCX
DGCX to list Sensex futures for trading
Dubai, June 26, 2013
The Dubai Gold and Commodities Exchange (DGCX) is set to launch a futures contract based on Sensex, the blue-chip stock index of India’s Bombay Stock Exchange (BSE).
The US dollar-denominated contract will be formally listed by DGCX on July 5.
DGCX Sensex Futures will be the first Indian index futures to be introduced to the Mena region, said a statement. Considered an accurate gauge of the Indian market, the Sensex Index tracks the performance of 30 of the largest and most heavily traded stocks in the country.
The futures will provide trading opportunities for international investors seeking access to India’s economy. The contract will use the same settlement methodology and calculations as its underlying index, the Sensex, it said.
The launch follows DGCX’s successful Indian Rupee contracts, which continue to generate record trading volumes. The contract is also part of a planned expansion of DGCX’s Emerging Market product offering.
The exchange additionally launched the Indian Rupee futures contract and the Middle East’s Copper futures contract, said the statement.
The listing of Sensex Futures also marks DGCX’s introduction of equities as a new asset class on the exchange. DGCX aims to further expand this equities proposition by launching similar contracts such as the MSCI India Index Futures in the near future, it added. – TradeArabia News Service
More Finance & Capital Market Stories
- Abraaj completes 15 exits in 2013
- Barwa gets top HSE certifications
- Egypt's forex reserves dip to $17.8bn in Nov
- Experts put spotlight on Mena tax issues
- BMI, Muharraq SC launch co-branded credit card
- NBAD partners with top business school
- Dubai non-oil trade surges 10pc to $272bn
- Iran president targets stagflation in first budget
- DFM accredits 2 firms for margin trading
- Kuwait inflation plunges to nine-year low