Dubai Gold and Commodities Exchange (DGCX) is to commence daily trading at 7am from June 4, 90 minutes earlier than normal, in a bid to gain a competitive edge on the Indian market, it was announced at the weekend.
“The extended trading time will provide DGCX participants with a 30-minute window before the exchange traded currency derivatives markets open in India,” the exchange said in a statement by the official WAM news agency.
"DGCX has a strong track record in contract innovation and the Exchange remains committed to further enhancing trading opportunities in commodity and currency derivatives in the region,” said Gary Anderson, CEO of the DGCX.
The half-an-hour window between DGCX opening and the Exchange traded currency derivatives market opening in India will allow participants on the DGCX an opportunity to take positions based on overnight indicators, putting them ahead of the momentum curve, the statement added.
By Arabian Business