Broker Membership or Trade Membership, Dubai DGCX

The DGCX’s range of futures contracts offers participants of the physical commodities markets, such as producers, manufacturers and end users, with a sophisticated means of hedging their price risk exposure. Such price risk management has previously been unavailable to producers in the Middle East. In addition, DGCX offers trading opportunities to financial communities and investment houses in both the Middle East and around the globe who wish to access the growing asset classes of commodity and currency derivatives.

DGCX, is the project of the Dubai Multi Commodities Centre (DMCC), Financial Technologies (India) Limited and the Multi Commodity Exchange of India Limited (MCX). Commenced trading in 2005 as the region’s first commodity derivatives exchange and has become the leading derivatives exchange in the Middle East.

The DGCX’s range of futures contracts offers participants of the physical commodities markets, such as producers, manufacturers and end users, with a sophisticated means of hedging their price risk exposure. Such price risk management has previously been unavailable to producers in the Middle East. In addition, DGCX offers trading opportunities to financial communities and investment houses in both the Middle East and around the globe who wish to access the growing asset classes of commodity and currency derivatives.

DGCX is regulated by the Securities and Commodities Authority (SCA) in the UAE. SCA was established in 2000 in accordance with Federal Law #4 and is a public authority that has been given the supervisory and executive powers necessary to perform its functions.

The Indian Rupee futures contract was the first of its kind in the world when it launched in 2007. Today, it remains the only Rupee/Dollar contract tradable outside of India and available to international participants.

DGCX lounches four new products starting from Friday 5th of June:

– DGCX  to list two new unique Indian contracts – India Gold Quanto Futures and Indian Rupee Quanto Futures
– Exchange to introduce Mini Polypropylene Futures contract
– Existing Plastics Futures contract to be upsized

Further diversifying its product suite, the Dubai Gold and Commodities Exchange DGCX today announced that it will launch three new unique contracts
-India Gold  Quanto Futures, Indian Rupee Quanto Futures and Mini Dubai Polypropylene Futures. The Exchange will also upsize its existing Plastics Futures. 

The following membership categories are available with DGCX :

  • Broker Membership
  • Trade Membership
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Broker Members are entitled to trade on all the products listed by the DGCX either on proprietary basis or on behalf of clients. Broker members have to meet minimum Net Current Tangible Asset (NCTA) requirements specified by Exchange, and comply with a set of regulatory requirements specified in the DGCX By – Laws. Broker Members proposing to deal on behalf of clients, will be subject to statutory regulations. Broker Members will require a license from the Securities and Commodities Authority UAE (SCA).

A Broker Member is entitled to apply for SCA license and trade for clients. The cost of Broker Membership is USD 150,000. The Broker needs to have paid up capital of AED 2 million for Broker Clearing. The NCTA for Broker Member is USD 250,000 while it is 350,000 for Broker Clearing.

DGCX Broker Membership with SCA license entitles the member to trade for clients on DGCX products only and cannot be used for trading Fx on international markets or hedge fund activities.

Trade Members are entitled are to trade on proprietary basis only on all the products listed on DGCX. Broker members have to meet minimum Net Current Tangible Asset (NCTA) requirements specified by DGCX. Trade Membership is currently offered at an admission fee of US $ 60,000.

Products

  • Precious Metals
  • Gold Futures and Options
  • Silver Futures
  • Base Metals
  • Steel Rebar Contracts
  • Energy
  • Brent Crude
  • WTI Crude
  • Fuel Oil
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  • Currency Futures

Indian Rupee Futures

Mini Indian Rupee Futures

Mini Indian Rupee-EURO Features

MIR-GBP

Euro-Dollar FX Features

Sterling-Dollar Features

Australian Dollar-US Dollar FX Features

US Dollar-Korean Won Features

US Dollar-Russian Ruble Features

Canadian Dollar-US Dollar FX Features

Swiss Franc-US Dollar FX Features

Japanese Yen-US FX Features

US Dollar-South African Rand Features

DGCX is the only exchange in the Middle East to offer currency futures contracts.

The Indian Rupee futures contract was the first of its kind in the world when it launched in 2007. Today, it remains the only Rupee/Dollar contract tradable outside of India and available to international participants.

DGCX Strong Start to 2015

* Monthly volumes up by 22%; Year-on-year volumes grow 13%

* Gold volumes increase 23% year-on-year

* Currency segment records a growth of 13%

The Dubai Gold & Commodities Exchange (DGCX) recorded a robust start to the year, with a total of 1,176,111 contracts traded in January, an increase of 22% over December 2014.

The metals segment was the main driver of volume growth, growing 24% month-on-month. DGCX’s flagship product, Gold Futures led the growth, trading 47,206 contracts in January, up by 13% month-on-month and 23% year-on-year.

DGCX’s Currency segment grew 13% year-on-year. The Mini Indian Rupee Futures grew 39% year-on-year and 24% from the previous month while Indian Rupee Futures grew 23% month-on-month. The Hydrocarbon segment witnessed a 22% growth from the previous year. WTI Futures led the growth, rising 21% month-on-month and 13% year-on-year.

Other new products also performed well with the MSCI Indian Rupee and US Dollars Indices growing 133% and 189% respectively, and the Mini INR denominated in British Pounds and Euro, both introduced in November, rose 55% and 25% respectively.

Note: DGCX is the only exchange in the Middle East to offer currency futures contracts.

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A to Z Consultancy
Fairmont offices, office 723
Sheikh Zayed Road, Dubai, UAE

Alexandra Bogdanović
Mobile
+ 971-50-425 1572
E-mail:

office@a-zconsultancy.com
alex@a-zconsultancy.com