The Dubai Gold and Commodities Exchange (DGCX) became home to the Middle East’s first currency futures when euro/U.S. dollar, Japanese yen/U.S. dollar, and British pound/U.S. dollar contracts began trading on June 12.
The DGCX’s Framroze Pochara says the exchange will see how the initial contracts do vs. spot forex trading before it decides to add more currency pairs.
The contracts will have a quarterly cycle and will trade in 50,000 euro, 5 million yen, and 50,000 pound lots, respectively. By comparison, the euro/U.S. dollar contract at the Chicago Mercantile Exchange trades in 125,000 euro lots. The DGCX hopes the smaller size will help create liquidity.
Subscribe to:
Post Comments (Atom)
Post a Comment