Dubai’s DGCX to launch first FX rolling futures contracts in July 2020

Dubai’s DGCX to launch first FX rolling futures contracts in July 2020

Dubai's DGCX to launch first FX rolling futures contracts in July 2020

Zainab Mansoor

Wednesday 24 June 2020

The Dubai Gold and Commodities Exchange (DGCX) confirmed that it would launch three FX Rolling Futures contracts - Euro (EUR), Pound Sterling (GBP) and Australian Dollar (AUD) against the US Dollar (USD) on July 6 this year.

With the launch, DGCX will expand its suite of currency products that include G6 and Indian Rupee contracts.

The new FX Rolling Futures contracts are perpetual contracts that are automatically rolled over at the close of the trading day if an open position still exists. They will be priced in USD, and denominated in amounts of 10,000 of the non-USD currency.

Block trading will be permissible in the contracts.

The contracts will enable market participants with tools to manage their price risk and exposure to foreign currencies, and offer traders access to international currency markets with clear and transparent regulations.

Les Male, CEO of DGCX, said: "We are excited to expand our currency portfolio with the imminent launch of these innovative FX Rolling Futures contracts. These currencies are the most liquid and heavily traded on international markets, and are being listed on the DGCX at precisely the right time - amidst ongoing currency