DGCX Rupee Futures to Provide Cash Settlement in USD
October 28, 08
The Dubai Gold & Commodities Exchange (DGCX) said on Tuesday it had revised Indian Rupee futures contracts and would provide cash settlements in U.S. dollars to facilitate the settlement process for both local and international market participants.
In addition to revising the Rupee futures contracts, which will be available from November 3, the DGCX also said it would increase the monthly availability of contracts in general, and extend trading hours to start at 8:30 in the morning and end by 23:30 at night.
DGCX launched the world’s first Indian Rupee futures contracts in June 2007.
The Dubai-based exchange is the first international commodities derivatives marketplace in the time zone between Europe and East Asia, and is a joint venture of the Dubai Multi Commodities Centre (DMCC), Financial Technologies (India) Limited and Multi Commodity Exchange of India Limited (MCX).