The Dubai Gold & Commodities Exchange (DGCX) has unveiled plans to substantially augment its stock offering with 100 new futures options by 2017, which will see a multi-tiered release of several new company single stock futures, according to a company statement.
DGCX will aim to tap into a growing investor demand for single stock futures, resulting in the release of up to 100 different instruments over the next twelve months. More specifically, this will see an inaugural phase of upwards of fifteen stock futures, including five across US companies and ten across Indian venues.
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Big Name Companies Highlight Offering
On the US side, the companies listed will be technology and banking mainstays Apple, Facebook, Microsoft, Google & JP Morgan. By extension, the Indian stock futures will be from TCS, Reliance, HDFC Bank, Infosys, Tata Motors. In addition, DGCX has already explained its ambitious plans to hike this number to upwards of 100 by the end of next year, which will include companies from the Middle East as well as part of its stock suite.
The launch is part of a widespread effort to introduce new stock futures to the region – as recently as September 1, 2016, Nasdaq Dubai will be launching an array of stock futures on its platform as well.
According to Gaurang Desai, Chief Executive Officer (CEO) at DGCX in a recent statement on the launch: “It will contribute towards deepening the market and enhancing liquidity. It will definitely generate more trading opportunities and encourage more participants to trade on stock futures.”