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DUBAI – The Dubai Mercantile Exchange plans to launch new and innovative foreign exchange contracts in the second half of this year, the managing director said.
"These contracts are under development and further details will be communicated later.
He pointed out that the Chinese yuan is one of the specific products of great interest and that, although already publicly traded, the stock members have requested a change in its specifications, subject to revision, according to the newspaper .
He added that the purse was intended to launch the micro-gold futures contract later this year and that it was finalizing the necessary regulatory approvals.
He pointed out that the stock exchange was planning to launch contracts for agricultural products and was currently discussing with various actors and current players in the agricultural market to determine the best options that could be added to the trading platform.
The Director General of DGCX said that he hoped the new electronic stock market would be launched in the coming weeks.
The Dubai Gold and Commodities Exchange (DGCX) was created in 2005 as the region's first commodity derivatives exchange and the only one to allow traders to settle their transactions in the Gulf region. DGCX played a leading role in the development of the regional commodities derivatives market.
DGCX is a subsidiary of the Dubai Multi Commodities Center (DMCC), a strategic initiative of the Dubai Government, whose mandate is to promote commodity trading throughout the emirate by providing physical and financial infrastructure , the market and the services required.
DGCX is a fully electronic currency exchange and derivatives trading system with more than 175 members around the world. It offers forward and option contracts covering the precious metals, energy and currency sectors.
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