Dubai – Mubasher: The Dubai Gold and Commodities Exchange (DGCX) launches today Chinese yuan futures contracts. The new launch is part of DGCX’s efforts to make the yuan accessible to regional and global participants as China prioritizes its internationalization and is currently the fourth most traded currency in the world.
The contract will be financially settled on the same day as offshore equity index futures, and will hold a value of $50,000. It will also give an outright quote on USD/CNY offshore FX rate, and will enable traders to settle in US Dollars. Intermarket trading will be available with other global exchanges that offer the contract, and will be tax free (no transaction tax and no capital gains tax).
