DGCX eyes 100 stock futures by next year

Dubai: DGCX has made a move that could provide interested investors with more options in its stock futures.

In the first phase, the exchange launched 15 single stock futures on 5 US and 10 Indian companies. The US companies include Apple, Facebook, Microsoft, Google & JP Morgan. The Indian companies include blue chip stocks such as TCS, Reliance, HDFC Bank, Infosys, Tata Motors, among others. The bourse plans to add another 50 to 100 by next year, including some names from the Middle East.

“It will contribute towards deepening the market and enhancing liquidity. It will definitely generate more trading opportunities and encourage more participants to trade on stock futures,” Gaurang Desai, chief executive officer at DGCX said.

On September 1, Nasdaq Dubai also plans to launch stock futures.