Dubai Gold and Commodities Exchange (DGCX) will expand its portfolio by rolling out more forex contracts next months and will emerge stronger in post-19 period, a senior official said.
"In July, we will be expanding our portfolio of currency products with FX Rolling contracts - perpetual rolling FX contracts for three currency pairs. We expect these to be particularly beneficial to our institutional investors by enabling them to hedge more efficiently during this period of heightened volatility," said Les Male, CEO of DGCX.
But he didn't disclose what those three currency pairs would be. The bourse currently trades in around a dozen currency future. The bourse saw robust trading activity in April, with members increasingly seeking to protect themselves against volatility and global economic uncertainty. It last month recorded a surge in trading of its G6 currency portfolio, which registered year-on-year volume growth of 653.45 per cent. -
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