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DGCX to launch first FX Rolling Futures contracts in July

DGCX to launch first FX Rolling Futures contracts in July
The FX Rolling Futures contracts are perpetual

Dubai - Mubasher: The Dubai Gold and Commodities Exchange (DGCX) will issue its first FX Rolling Futures contracts of Euro (EUR), Pound Sterling (GBP), and Australian Dollar (AUD) against the US Dollar on 6 July.

The issuance will contribute to expanding DGCX's currency portfolio, which includes the G6 currencies and the Indian Rupee contracts, according to a press release on Wednesday.

The FX Rolling Futures contracts are perpetual and can be automatically rolled over by the end of the trading day if a deal still exists.

The contracts will provide participants with highly efficient tools to manage the risks of lower prices and allow them to expose to foreign currencies while enabling traders to have greater access to international currency markets.

The new FX Rolling Futures contracts, which permit block trading, will be priced in US dollar and denominated in amounts of 10,000 of the non-USD currency.

The CEO of DGCX, Les Male, said: "The contracts are suitable for all traders, but will offer especially great value to institutional investors, providing protection against swings in foreign exchange rates, particularly during this period of heightened volatility."

Les Male added: "In the coming months, we plan on expanding our value proposition further with the launch of more FX Rolling Futures contracts to cater to the needs of our members."