International competition sparks India exchange moves
Indian commodity and financial markets have received a boost
with launches planned in both sectors by domestic and overseas
exchanges. Dubai Gold and Commodities Exchange (DGCX) has
placed a 7 June date on the launch of its rupee futures, while
a further equity index and a new coal contract are planned
While India's central bank has also revealed plans to pave
the way for FX futures in the country, DGCX has acted
unilaterally by introducing a dollar-denominated product. The
exchange says that the contract will mainly target hedgers, who
previously were only able to transact in the non-deliverable
forward interbank market.
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