Thursday, August 5, 2021

Dubai Gold & Commodities Exchange Launched PKR Futures Contract

The trading hours have been fixed as 07:00 to 23:55, Gulf Standard Time, said the DGCX press release.

SEATTLE (Scrap Monster): The Dubai Gold & Commodities Exchange (DGCX) announced launch of its new Pakistani Rupee (PKR) Futures Contract. The new contract is the first-of-its-kind by any regulated exchange in the world and is currently available for trading.

In addition to providing trading opportunities against the wide range of existing foreign exchange currency products of the exchange, it also provides members and their clients with the ability to hedge exposure to the Pakistani Rupee. The contract size will be 2,000,000 of base currency. It will be traded and cash settled in US Dollars (USD) based on publicly available reference prices. The trading hours have been fixed as 07:00 to 23:55, Gulf Standard Time, said the DGCX press release.

Commenting on the milestone achievement, Les Male, CEO, DGCX noted that the exchange is extremely pleased to launch the highly anticipated PKR Futures Contract, which is expected to complement its suite of existing products. The contract will help market participants to tap further into the Asian markets. The exchange is presently exploring opportunities to launch similar initiatives soon, he added.

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