Dubai Gold, Commodities Exchange to list Israeli Shekel futures on June 17

The Dubai Gold and Commodities Exchange (DGCX) announced on Wednesday that it will list the Israeli Shekel Futures Contract (DILS) on June 17, 2022.

DGCX said in a statement the move reflects its focus on its product offering in the forex space as it grows its currency segment.

“We are delighted to launch the Israeli Shekel Futures Contract, which is a major step that builds on the United Arab Emirates’ strategic relationship with Israel.” Les Male, chief executive of DGCX, said in a statement.

“As the second largest trading hub after the United States, 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,”

The listing of Shekel Futures was after DGCX received a permit from the Israel Securities Authority (IS A) in 2021, allowing 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 enabled to act as market makers on the DGCX platform.

The DGCX will be taking part at the ‘FOW Trading Israel’ event in Tel Aviv, organised by Futures and Options World (FOW) on June 28.  Its CEO Male will be speaking in a vital panel discussion there talking about cross-border opportunities.