Plans come after SGX and Icap delayed launch of its FX futures to Q2 2016
The Dubai Gold and Commodities Exchange
(DGCX) will on December 18 launch Chinese yuan futures, the
latest development in the FX futures space.
The new contracts come as part of the
Dubai exchange’s plans to make the currency more
accessible to both regional and global market participants.
The yuan futures will be cash-settled with
a value of $50,000. Traders will be able to settle in US
dollars and have access to outright quotes on the USD/CNY
offshore FX rate. DGCX said it will not charge a transaction
tax on trades.
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