DGCX offers equity futures mercantilism in fifteen USA and Indian stocks
Dubai Gold and Commodities Exchange (DGCX) has ventured into equity futures mercantilism, permitting UAE investors to become shareholders of world’s prime brands from the USA and Republic of India.
The exchange on weekday declared that it offered UAE investors a chance to take a position in fifteen equity futures as well as 5 from the USA and ten from Republic of India. They’re Apple, Google, Facebook, Microsoft, JP Morgan, Tata Motors, Reliance, HDFC Bank, Axis Bank, Infosys, TCS, Maruti, Tata Motors, ICICI Bank, Larson & Toubro and banking company of Republic of India.
Amrit Sahi, Head of Equity merchandise at DGCX, same future contracts would be supported underlying single stocks, thus giving native exposure to international equity futures markets.
Set to be settled in money supported the damage of the underlying security, the contracts can track underlying worth performance that they’re supported.
The exchange, he said, may increase its equity futures offerings to 50-100 by the top of this year by as well as European and much jap, looking on the demand from the investors.
Sahi said: “Investors doesn’t get any vote rights or dividends and being future contracts, they’re listed on margin (offer leverage). They’re conjointly not subject to the short sale limitations that stocks ar subjected to. Single stock futures may be physically settled or money settled.”
Globally, stock futures contracts ar listed on exchanges in Republic of India, Russia, US, Europe and Korea. port securities market, however, is that the initial securities market within the geographical region to introduce this within the region.
A UAE bank had earlier launched a fund whereby giving native investors a chance to expand their portfolio to the USA and European equities.
Sahi same native investors wouldn’t have to be compelled to remit the money abroad whereas they trade futures on international stocks as a result of DGCX is government closely-held and has its own clearing system.
“Additionally, we provide competitive value structure and 0 tax on returns.”
DGCX started mercantilism equity futures on January fifteen and has seen sensible response since then. quite two,400 contracts were listed within the initial seven mercantilism days.
DGCX CEO Gaurang Desai said: “People ar sitting on high quantity of money however they don’t get avenues for trade and new DGCX platform can provide them a chance to expand their portfolio and scale back the danger.”