Dubai: The Dubai Gold and Commodities Exchange (DGCX) said on Monday it has launched two futures contracts based on the MSCI India Index to let investors tap in the growth story in Asia’s third largest economy.
One contract is based on the MSCI India Price Return Index, which takes into account only the price performance of constituent stocks in Indian rupees, while the other is based on the MSCI India Total Return Index, which takes into account both the price performance and the dividend payments and is calculated in dollar terms.
The MSCI India Index represents 67 locally listed entities in India and covers approximately 85 per cent of the investable Indian equity market.
“The contracts are part of a planned expansion of our Emerging Market product offering, and are specifically designed to cater to the investment requirements of regional and international participants seeking exposure to one of the world’s largest and fastest growing Emerging Markets, India,” Gaurang Desai, Interim CEO of DGCX, said.
The new contracts, which went live on October 17, are being cleared by the Dubai Commodities Clearing Corporation (DCCC).