Dubai Gold plans to launch innovative currency trading contracts

DGCX General Manager Noel Mil revealed that the stock market is planning to launch new innovative foreign exchange contracts in the second half of this year, in response to requests from investors and members.

In special statements to the "economic statement", he said that these contracts were under development and would be announced in more detail as soon as possible, pointing out that the Chinese yuan was one of the specific products which were of great interest and raised many questions about them, Already on the stock market, members have requested a modification of its terms of reference, which is currently being revised.

He added that the stock market, the only one of its kind in the Middle East, is still looking to diversify its product portfolio and broaden its membership base. It has already launched two contracts this year – futures contracts on the market. aluminum and zinc – and on the launch of a third gold futures Exchange participants have the opportunity to trade gold in smaller categories and more money. Investors willing to invest in gold can increase their investments in this important badet clbad.

Track

The CEO of DGCX said Dubai Gold and Commodities was on track to launch the platform futures contract later this year and was finalizing regulatory approvals.

"We are looking forward to being the Middle East's first commodity exchange to list the mini-gold futures," he said, adding that this product would be a major step forward for the participation of all investors from different sectors to the market and would contribute to the development of the bullion market in the region.

He added that the launch of aluminum and zinc futures aimed to present a full range of commodities to stock market participants, stressing that it was too early to evaluate the performance of the producers. but that they had attracted a lot of interest, in addition to international demand, measured after various research efforts among members. The stock market included data badysis, stock market valuation, listening to investor opinions and proposals.

The introduction of such products offers investors the opportunity to mitigate the risks inherent in major metals markets and to attract global participants by allowing them to effectively hedge prices, he said, anticipating increased demand for these products as the stock market continues to explore opportunities to launch similar products to increase value.

Agricultural products

The EMR is also considering the launch of contracts in agricultural products and is currently in discussion with various players and current players in the agricultural market to determine the best options to add to the trading platform.

He added that BSE sought to achieve several key objectives through its ongoing efforts to attract new participants: first, to improve the liquidity of existing products by launching value-added services, the first of its kind in the region; CGC to attract regional and international investors. Globally, among the targeted segments of investors in key markets, such as non-resident Indians, which is a key segment of the stock market.

The third of these goals is to continue to expand and improve technology solutions and clearing services to provide a better customer experience and expand the membership base in new markets such as China. possible ways to deepen and strengthen existing relations with Chinese regulators and exchanges.

New site

The CEO of DGCX said he hoped to launch the new electronic stock exchange in the coming weeks and that it should introduce new features and improve the experience of its visitors. Ensure that members benefit from business opportunities between Dubai and other regional and international markets.

Initiatives and partnerships

"Our goal is to develop our portfolio of products and services through a regular update of our trading systems, clearing house and website, and we are confident that we will provide excellent service to our members. And partners in the stock market is not only important, but also the foundation of our success.There were several initiatives and partnerships launched throughout the year that improved access to the stock market and its trading infrastructure. which will allow the stock market to maintain its position.

The Dubai Gold Exchange (DGCX) was established in 2005 as the region's first commodity derivatives exchange and the only one allowing traders to settle transactions in the Gulf region. She played a leading role in the development of the regional commodities market.

Compensation

The Dubai Gold and Commodities Exchange (DGCX) owns and operates the largest multi-badet clearing house in the region, the Dubai Clearing Company, which is controlled by the Securities and Commodities Authority (SCA) and recognized as a third party counterpart in a third country by the European Securities and Exchange Commission Clean around the world.