Dubai exchange launches 3 new emerging market currency futures

Expanding its suite of 'Emerging Market' products, the Dubai Gold and Commodities Exchange (DGCX) has launched three new currency contracts
The new contracts -- Russian Ruble Futures, Korean Won Futures and South African Rand Futures -- went live on Friday, December 26.
The new EM currency contracts will provide DGCX market participants with additional tools to manage their price risk and exposure to foreign currencies as well as provide new arbitrage opportunities.
DGCX currently lists 11 derivatives products within its currency portfolio which includes Indian Rupee/USD Futures, Mini Indian Rupee/GBP Futures and Mini Indian Rupee/Euro Futures.
"Emerging Market currencies have been extremely volatile in the past few years due to various macro-economic factors. The launch of the Russian Ruble, Korean Won and South African Rand Futures represent an important facet of our comprehensive and long-term Emerging Market product strategy," said Gaurang Desai, Interim CEO of DGCX.

"The Middle East's trading links with South Africa, Russia and South Korea have been growing rapidly over the past few years and businesses transacting with these markets need to make sure that their currency price risk is managed effectively to ensure their long-term sustainability," Desai said.