Dubai Gold & Commodities Exchange :Launch SENSEX Futures by July 2013

The Dubai Gold & Commodities Exchange (DGCX), part-owned by Financial Technologies (FT) and the Multi Commodity Exchange (MCX), is set to launch futures contracts of the BSE's benchmark SENSEX.
The index futures will most likely be available for trading in Dubai in the first week of July, 2013.

DGCX is planning on developing a SENSEX futures contract as part of expanding its emerging market product portfolio. This is part of  larger strategy of developing a strong offshore platform for the trading of a range of emerging market contracts in response to member and market needs.

Sensex futures are already traded on bourses in the US &  Europe. Its rival, the National Stock Exchange's (NSE's) Nifty, is traded in the US, Singapore.

Sensex futures' listing on the DGCX will give non-resident Indians  (NRIs) an exposure to Indian shares at a lower cost. The demand in these markets for Indian equities is robust.

DGCX started trading in November 2005 &  trades in currency, metals & commodities, like crude oil. Rupee futures contracts are also traded on the DGCX.

Mr. Jignesh Shah, Chairman and Group CEO of FT, is also on the board of directors of DGCX &  is vice-chairman of the exchange, according to the DGCX website.

Mr. Joseph Massey, who serves as the managing director and CEO of MCX-SX, is the director of DGCX.

The FT Group is also the owner of MCX, the commodity exchange, and MCX-SX, the stock exchange, launched earlier this year (2013)

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