Dubai - Mubasher: The Dubai Gold & Commodities Exchange (DGCX) and RAKBANK have unveiled plans to launch a mini-gold futures product.
The new platform will enable investors to trade gold in smaller denominations, according to a statement released on Wednesday.
“We are delighted to have built on this relationship and excited to announce the launch of the MENA’s first exchange-listed Mini-Gold product together,” CEO of DGCX Les Male said.
Planned to be launched in the third quarter of 2019, the mini-gold contract will be offered on the DGCX platform and cleared by the Dubai Commodities Clearing Corporation (DCCC).
Managing director of treasury at RAKBANK Vikas Suri commented: “[the platform] will allow customers, large and small, from across the region to acquire gold at competitive prices with just a click of a button through an integrated Digital Banking platform.”
