DGCX, MSCI
sign deal for emerging markets expansion 

(MENAFN - Khaleej Times) Dubai Gold and Commodities Exchanges (DGCX) announced on Thursday that it has signed a licensing agreement with MSCI, a leading provider of investment decision support tools, to create a futures contract based on the MSCI India Index.

The MSCI India Index represents 72 locally listed entities in India and covers approximately 85 per cent of the Indian equity market.

The MSCI India Index is designed to measure the performance of large and mid cap companies in India. The DGCX MSCI India Index Futures will act as an efficient hedging tool and will also facilitate trading mandates of global institutional investors seeking exposure to one of the world's largest and fastest growing Emerging Markets.

"We are delighted to work with MSCI to license a futures contract based on the MSCI India Index. This agreement is another important milestone for DGCX as it expands its product suite across the region and internationally. DGCX is seeking to develop a strong offshore platform for the trading of a range of Emerging Market (EM) contracts and the listing of DGCX MSCI India Index Futures is an important part of this strategy," said Gary Anderson, chief executive officer of DGCX.

Since inception, DGCX has pioneered the development of the derivatives market in the Middle East, developing new and innovative trading opportunities for its members and customers. The DGCX MSCI India Index Futures is a natural progression of DGCX's India-focused product portfolio which includes the Indian Rupee futures.