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DGCX launches Shanghai Gold Futures

First Published 10th April 2017

The Dubai Gold and Commodities Exchange opens-up access to the Chinese bullion market.

Gaurang Desai, DGCX

Gaurang Desai, DGCX

The Dubai Gold and Commodities Exchange (DGCX) has announced the launch of DGCX Shanghai Gold Futures (DSGC), following the signing of a deal with the Shanghai Gold Exchange (SGE) last year.

The yuan-denominated contract, DSGC, marks the first-ever usage of the Shanghai Gold Benchmark Price in international markets, and provides access to a bullion market connected to over 10 million institutional customers, 8.3 million individual customers and 55 certified gold vaults.

Gaurang Desai, CEO of DGCX, said: "This is a significant milestone for DGCX and we are truly delighted to be the first and only Exchange in the world to introduce a Chinese gold-backed derivative product in international markets. By trading DSGC, members and participants of the DGCX can access the Chinese bullion market which until now was difficult to access for foreign participants. The product will also open doors for other traders who don't currently trade on DGCX but are keen to access the Chinese bullion market."

The DSGC contract is quoted and traded in Yuan, with settlement prices derived from the Shanghai Gold Exchange (licensee). The contract is size 1,000 Grams (1KG) with the contract price quoted in CNH per gram.