Dubai Gold and Commodities Exchange to launch 44 Blue-chip Indian SSF in Dec


DUBAI (Scrap Register): Encouraged by strong investor appetite and robust trading performance on its existing Indian Single Stock Futures (SSF), the Dubai Gold & Commodities Exchange (DGCX), having received regulatory approval, has announced the launch of an additional 44 blue-chip Indian SSF, further expanding its Equities asset class vertical.

With the listing of additional Indian SSF, local and regional traders can now participate in the price performance of numerous stocks that fall within the major indices in India. Additional SSFs will be listed for trading on Exchange from December 8th, 2017.

DGCX Indian SSFs mirror the price of selected underlying Indian stocks, providing traders and investors with the ability to replicate price performance for their usual equity trading strategies with the advantages of futures products and centralized clearing.

This provides the added benefit of access to Indian equities with the familiarity of cash settlement, appealing to market participants from the professional and retail community.

The Exchange’s Indian SSF witnessed strong growth from July to the end of October 2017, trading a total of 851,108 contracts, up ten-fold from 2016, with a value of USD$ 5.42 billion. In October, the average daily volume was 10,750 lots valued at USD 64 million per day, with Open Interest of 2,042 lots.

“We’ve seen volume growing strongly in our Indian SSF throughout 2017, which further encouraged us to add a whole range of Indian SSFs in our Equity portfolio. The new Indian SSF will continue to be traded and settled in USD beyond Indian market hours and comes without any foreign exchange risk, in a tax-free ecosystem,” said Gaurang Desai, CEO of the Dubai Gold and Commodities Exchange (DGCX).

Some of the new additions include Hindustan Unilever, Tata Motors, Tata Steel, Wipro, Hindustan Petroleum Corporation, HCL Technologies, Bank of Baroda, Bosch Ltd, Zee Entertainment Enterprises Ltd and Indian Oil Corporation Ltd.

“Providing our members and traders with access to participate in the growth and price performance of Indian blue-chip companies through our own platform is unique in the international markets, and in line with our commitment to be pioneers in the growth of the regional derivatives industry while growing our Equities asset class vertical,” Gaurang added.

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