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Dubai: The Dubai Gold & Commodities Exchange (DGCX) is to hold a special trading session on Saturday, February 1st to allow market participants to hedge their risk before, during and after the announcement of the 2020 Union Budget of India.
All products listed on the DGCX will be available for trading. The market will open at 07:00 Dubai time with continuous trading until 15:30 on the same day. Post Trade Reports will be made available for download from 16:30. Trades from Friday, January 30th, will be settled on Saturday, 1st February, while all trades on Saturday February 1st will be settled on Monday February 3rd.
Les Male, CEO of DGCX, commented: “Although an unusual announcement, the decision has been taken in conjunction with the DGCX Group’s Members. An event like the Union Budget of India has the power to drive markets, and as such, with the DGCX’s ‘Customer First’ approach, we decided it was only fitting that we give ample opportunity for traders to hedge their risk.”
The DGCX last held a special trading session on Saturday, February 28th, 2015, which saw trading across all Indian Rupee products as well as the Precious Metals and Equities asset classes.
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About DGCX: Established in 2005, DGCX is the region’s leading derivatives exchange and the only one allowing global participants to trade, clear and settle transactions within the Gulf region. The Exchange has played a pioneering role in developing the regional market for derivatives and financial infrastructure. DGCX is an electronic commodity and currency derivatives exchange with over 175 members from across the globe, offering futures and options contracts covering the precious metals, energy, equities and currency sectors. DGCX is a subsidiary of DMCC (Dubai Multi Commodities Centre), a Dubai Government Authority for trade, enterprise and commodities. For more information: www.dgcx.ae
DGCX also owns and operates the region’s largest and only multi-asset Clearing House – Dubai Commodities Clearing Corporation (DCCC). DCCC is federally regulated by the Securities & Commodities Authority (SCA) and is recognized as a Third-Country CCP by European Securities Markets Authority (ESMA) with over 60 clearers from across the globe. For more information: www.dccc.co.ae
For further information, please contact:
Jonathan Fisher
Weber Shandwick PR
Tel: +971 (0) 4 445 4222
Email: JFisher@webershandwick.com
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