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24 October 2019
MARKETS

DGCX lists RAKBANK as a new trade member

The bank commenced trading on 10 October 2019, executing its first trades in the Indian Rupee-Dollar Futures contract.

SHUTTERSTOCK/JEFF KINGMA


The Dubai Gold and Commodities Exchange (DGCX) has listed RAKBANK as a new trade member of the exchange, the move highlights the mounting interest from regional financial institutions to access the exchange for hedging and investment opportunities.

Les Male, the CEO of DGCX, said, “We are delighted to reinforce this relationship, which was first forged in 2017, and look forward to their active participation as we further enhance the liquidity of our derivatives market.”

In April 2019, the DGCX announced plans to launch a Mini-Gold Futures product in partnership with RAKBANK which is set to offer investors the chance to trade gold in smaller denominations.

The DGCX currently offers contracts across four product portfolios; currencies, equities as well as hydrocarbons and metals.


RELATED STORIES: DUBAI GOLD AND COMMODITIES EXCHANGE RAKBANK

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