DUBAI: Dubai Gold & Commodities Exchange (DGCX) yesterday announced changes to its Indian rupee futures contract.
The revised Indian rupee futures contract will be available for trading from Nov. 3, and will provide cash settlement in dollars, facilitating the settlement process for both local and international market participants. More contracts will be available on a monthly basis and trading hours will be extended to 08.30 to 23:30 (Local time; GMT +4).
DGCX launched the world’s first Indian rupee futures contract in June 2007. Reflecting customer feedback and in response to market developments, the latest set of enhancements is designed to improve the settlement process and increase trading opportunities for all members and global market participants.
“The DGCX Indian rupee futures contract provides market participants with not only the perfect tool to manage their price risk to the currency, but also with arbitrage opportunities against other markets,” said P. Krishnamurthy, CEO, financial services division, Al-Rostamani Group.
