Dubai exchange to list Sensex Futures on July 5
The Dubai Gold and Commodities Exchange (DGCX) has announced it will launch a futures contract based on Sensex. The contract will be formally listed by DGCX on July 5. The DGCX Sensex Futures will be the first Indian index futures to be introduced to the West Asia and North Africa. Considered the most accurate gauge of the Indian market, the Sensex Index tracks the performance of 30 of the largest and most heavily traded stocks in the country, DGCX said. Once listed, DGCX Sensex Futures will provide unique trading opportunities for international investors seeking access to Indias economy. The contract, denominated in the US dollars, will use the same settlement methodology and calculations as its underlying index, the Sensex. The launch follows DGCXs extremely successful Indian rupee contracts, which continue to generate record trading volumes. The Sensex contract is also part of a planned expansion of DGCXs Emerging Market product offering, and will offer an exciting trading option for investors seeking exposure to one of the worlds largest Emerging Markets. DGCX additionally launched the worlds first Indian Rupee futures contract and the West Asias first Copper futures contract. The listing of Sensex Futures also marks DGCXs introduction of Equities as a new asset class on the exchange. DGCX aims to further expand this equities proposition by launching similar contracts such as the MSCI India Index Futures in the near future.