Stock Exchange announced # Dubai Gold and Commodities on Saturday, the launch of two new products for decades of basic metals, two decades # aluminum futures contracts # zinc futures.
The new producers will start trading on March 22 and aim to attract market participants.
“The two contracts are important to our strategy, we want to grow regionally, but we also want to expand internationally,” Les Mell, CEO of the Dubai Gold and Commodities Exchange (DGCX), told Reuters.
“These two new products will have a broader appeal on the international scene, as they are more applicable to international dealers,” he said.
All transactions are scheduled to be concluded under the new contracts through Dubai Clearing settlement # goods licensed and wholly – owned subsidiary of the Stock Exchange, which is recognized by the European Commission for Securities and the market as a provider of services central counterparty from another country.
The size of each of the futures contracts for both aluminum and zinc will be five metric tons, and the contract will be denominated and traded in dollars.
“It was clear that our members wanted these contracts and they wanted to settle them in US dollars,” Mel said.
He added that more products will be launched during the year, especially foreign exchange and gold.
Agricultural products were “not on the immediate horizon,” he said, but added that they would be studied as requested by members
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