DGCX strengthens Indian Rupee future contract

The revised Indian Rupee futures contract will be available for trading from November 3, and will provide cash settlement in US Dollars, facilitating the settlement process for both local and international market participants. More contracts will be available on a monthly basis out to twelve months forward and trading hours will be extended to 08.30 to 23:30 (Dubai time; GMT +4). In addition, the last trading day will be two business days prior to the last business day of the contract month.

In an innovative and pioneering move, DGCX launched the world's first Indian Rupee futures contract in June 2007. Reflecting customer feedback and in response to market developments, the latest set of enhancements is designed to improve the settlement process and increase trading opportunities for all members and global market participants.

"The DGCX Indian Rupee futures contract provides market participants with not only the perfect tool to manage their price risk to the currency, but also with arbitrage opportunities against other markets,"

said Mr. P Krishnamurthy, CEO - Financial Services Division, Al Rostamani Group.

"The DGCX Indian Rupee futures contract has generated considerable market interest. The new contract specification demonstrates that DGCX is continually supporting and responding to customers in order to provide the right products at the right time", added Nishat Bandali, Chief Marketing Officer, DGCX.