Dubai: The Dubai Gold and Commodities Exchange (DGCX) will list the Israeli Shekel Futures Contract - DILS on June 17, 2022, it said on Wednesday.
The listing of the futures comes after DGCX received a permit from the Israel Securities Authority (ISA) in 2021, enabling qualified Israeli corporations who trade on a proprietary basis to become members of the DGCX and to use its trading services. Since May 2021, Israeli members have also been allowed to act as market makers on the DGCX platform.
“We are delighted to launch the Israeli Shekel Futures Contract, which is a major step that builds on the UAE’s strategic relationship with Israel. As the second largest trading hub after the US, Israel represents an important market for us, and we see the renewed ties between the countries leading to strong currency volume growth over the coming years,” said Les Male, CEO of DGCX.
Additionally, the DGCX will be participating at the ‘FOW Trading Israel’ event in Tel Aviv on June 28.