DGCX to relist Indian Rupee Options contract

Dubai Gold and Commodities Exchange (DGCX) yesterday announced the re-listing of its Indian Rupee Options contract after a gap of two years, and said that the contract will restart trading on July 18.

The Indian Rupee Options contract was temporarily suspended in 2012 to facilitate migration to a new trading infrastructure, the exchange said in a media statement.

DGCX’s new advanced trading infrastructure, built in partnership with Cinnober, a financial technology provider, will be able to support heightened trading in the options contract. DGCX said the new platform provides it the ability to support high volumes in products.

Gary Anderson, CEO of Dubai Gold and Commodities Exchange said: “The re-listing of the Indian Rupee options contract further widens opportunities to trade Emerging Market contracts on the exchange. This year, the DGCX Indian Rupee futures contract increased its share of the total value of Indian Rupee futures traded globally to 50 per cent.”

The new platform is capable of supporting the introduction of a range of contracts, including the upcoming spot gold contract, as well as new emerging market, equity and agricultural products.

Each DGCX Indian Rupee Options contract represents one Indian Rupee Futures contract of 2 million rupees. Prices are quoted in US cents per 100 Indian rupees, with a minimum premium fluctuation of 0.000001 US dollars per rupee ($2 per contract).

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