DGCX to list copper futures for trading
Source: BI-ME , Author: Posted by BI-ME staff
Posted: Thu April 12, 2012 12:22 pm

UAE. The Dubai Gold and Commodities Exchange (DGCX) will formally launch trading of Copper Futures on Friday, 20th April.
 
Copper is the third most widely used metal in the world and is listed on a number of major international exchanges. The contract listed on DGCX will be the first Copper Futures contract to be introduced in the Middle East.

The 5 metric tonne (MT) cash-settled contract provides the optimal tool to hedge and mitigate price risk in physical copper and provides investors with access to one of the most liquid metal contracts in the world. The 5 MT contract size was a result of feedback from the physical hedgers, investors, and cross-exchange participants.
 
Speaking in advance of the official launch, Ahmed Bin Sulayem, Chairman of DGCX said: “DGCX has a proven track-record in launching products relevant to the Middle East and global market and the launch of our Copper Futures contract is another natural, yet significant strategic step. Given the continuing high demand for copper from industry and investors, we are confident that Copper Futures will be highly attractive to both retail and institutional participants”.
 
DGCX is committed to playing a significant role in developing the growing derivatives marketplace in the UAE and its expanded product portfolio already covers a diverse range of energy products, precious metal and base metals and currencies. These include the world’s first Indian Rupee futures contracts, as well as the first Brent Oil futures contracts in the Middle East.

About DGCX:

Established in 2005, DGCX is the region’s first derivatives exchange and the only one allowing participants to clear and settle transactions within the Gulf region. The Exchange has played a pioneering role in developing the regional market for derivatives.  DGCX is a Dubai Multi Commodities Centre (Dubai Government) initiative in partnership with Financial Technologies (India) Limited and Multi Commodity Exchange of India Limited (MCX). It is an electronic commodity and currency derivatives exchange with 230 members from across the globe, offering futures and options contracts covering the precious metals, energy and currency sectors. 

For more information: www.dgcx.ae

Photo: Ahmed Bin Sulayem, Chairman of DGCX

 

MIDDLE EAST BUSINESS COMMENT & ANALYSIS

date:Posted: December 7, 2016
INTERNATIONAL. Will this be the year when China exceeds growth expectations, Brexit turns into Bremain, the Mexican peso soars and Italian banks turn out to the best performing equity asset class?
date:Posted: December 7, 2016
UAE. Smart Grids can help lay the foundations for energy and cost-saving applications and renewable energy development in the MENA region.
date:Posted: December 6, 2016
UAE. Knowledge Summit 2016: "Over 2 billion jobs will disappear by 2030 and that is the hidden results of our rapid technology growth. But, if we understand all these hidden consequences we can create jobs at a much higher rate".
UAE. The Global Cross-Border report shows Middle-East as one of the regions with the highest incidence of cross-border online shoppers; UAE consumers continue to increase their online shopping. In 2016, 68% of adults in UAE shopped online in the past 12 months, increasing from 63% in 2015.
dhgate