Currency Arab intervention agenda DME
Currency Arab intervention agenda DME Organizers put the gold and commodity Dubai issue of the inclusion of forward exchange contracts Arab part of the agenda of their work and their interests in the context of the adoption of a strategic direction is to raise the profile of the scholarship to become a perfect trading platform for products and contracts for emerging markets, and allows the central issue for the leaders of the Exchange in choosing the perfect timing and determine the most appropriate currency Arabic for inclusion so as to obtain a long-term growth.
And identify trends in demand and the views of market participants and organizers of paris stock on the success of the Indian rupee currency for decades in promoting their attitude towards recording another story related to successfully insert foreign exchange contracts Arabic, and in parallel, the supervision of financial experts to reap the many parts of the advantages and gains of multi-Where gold and commodities Dubai insert foreign exchange contracts Arabic, says in his head, opening the way to a single currency for the Gulf Cooperation Council (GCC), and provide mechanisms for hedging and arbitrage for companies in the region and enable central banks to the Arab monitor prices of their currencies relative to international currencies.
Diversified portfolio of currencies
At first, it was revealed that Ahmed bin Sulayem, Executive Chairman of Dubai Multi Commodities in response that the products provided new inclusion, revealed that gold and commodities Dubai welcomes the inclusion of contracts for new currencies to meet the needs of the market, noting that the focus for these products concentrate on adding several volumes and market values, as brokers and members are eager to see large volumes of negotiation
He said that if the Russian ruble was the top priority for members of the exchange, we will be happy to look into this matter, as Iraqi dinar currency that attracts our attention.
In response to a question on the possibility to include Chinese yuan currency, he responded by saying that money is not the quality of coins that can be excluded, they are a strong currency is the economy is a big country, and stressed that entering the global market of China has recently joined, and personally as CEO of multiple DMCC must be sure of the availability of knowledge between members and brokers How to deal with this type of currency.
Said Ahmed bin Sulayem said Dubai Gold and Commodities pays great attention to the category of coins inserted which helps in increasing volumes, and portfolio diversification for investors and traders, noting that the stock market is always ready to identify points views and opinions of market participants traders and market makers and banks, before embarking on a step insert foreign exchange contracts.
In this regard, the Director General of the Dubai Gold and Commodities, Gary Anderson: "The continued strong performance of the Indian rupee futures contract in particular, evidence of the ability of the stock market to provide monetary environment for international investors order and security to cover the risk of currency fluctuation rupee abroad, but large contracts interest in emerging markets by participating individuals and international institutions, is a continuous development of strong sales of this platform in emerging markets focus strategy, and it was the launch of the mini-term Rupee Indian market index (Sensex) futures earlier this year as part of this strategy, and we continue to look for similar opportunities in consultation with our members. "
In the same context, and in response to a question whether there was an intention to insert coins Arab currency such as the Iraqi dinar and the Egyptian pound, he replied, Gary Anderson, CEO of Dubai Gold and Commodities said, "is the main issue of the inclusion of Arab currencies in determining the quality of the audience and the hard right, which will deliberate on these currencies in order to achieve a similar success recorded by the currency of success Indian rupee publicly traded and must be a high degree of diligence I step foot inclusion of these currencies.
Where correct and appropriate selection Almtaan Arab currencies and meet long-term more for the stock, and earn the greatest potential for success, and we strive to provide the best services to the merchant base, and listen to their views on the quality of contracts they wish to be included, we look at the Dubai Gold and Commodities Emerging Markets Stock Exchange.
Consultation with central banks
And the nature of the problems the issue of inclusion of Arab foreign exchange contracts, meets Gary Anderson said: "I do not think there are real problems prevent, but we will make inserting should be discussed with the central banks and the banks themselves, with an audience of beneficiaries of the inclusion of these currencies traders, and the objective of these dialogues to identify the views and opinions, and determine whether it is a desire to integrate these contracts. "
In response to a question about products and new contracts are intended to be included, he replied, Gary Anderson, CEO of Dubai Gold and Commodities said: "We have updated electronic trading platform in Dubai Gold and raw materials through the use of electronic platform of the new sobriety and speed in completing trades, a situation that would have strengthened our ability to launch new products and contracts, we could not be included in the e-commerce system in the former also has the e-commerce system in its ability to cope with trading volumes and messages could not the old trading system to handle.
And thanks to modern e-commerce system has become our ability to integrate the products and contracts that should be included, as well as enhance our ability to perform the duties that we could not do under the old e-trading system.
He said the CEO of Dubai Gold and Commodities Gary Anderson, the objective of the development of derivatives trading in the Middle East reflects the influential role and is important for the Middle East and increase levels transaction volumes and demonstrated by noting that more than 80% of trading volume in the stock market comes from the Middle East.
He pointed out that the stock market is eager to launch initiatives and new products to attract new members from various sectors and geographic regions worldwide, where the number of members of the exchange of 264 members by July this year, and expressed his belief that new initiatives will allow customers more diversity in the stock market.
Gains and benefits of multi-
Similarly, the values of Sagiit Kumar, Managing Director of the company "JR G" there are opportunities and realistic question of the inclusion of Arab gold coins and raw materials Dubai, stressing that the inclusion of these currencies would lead to greater credibility of the financial sectors in all Arab countries.
He considered the question of acceptance banks Sagiit Kumar exchange rates of these currencies on DGCX screen as one of the main challenges Almtaan processed on the Exchange in case if it goes forward exchange contracts to the inclusion of the Arabic language.
In response to a question about the added value that will accrue to traders due to the inclusion of foreign exchange contracts or Arab in Dubai, said Sagiit Kumar said, "traders will reap the many regional benefits as a result of their trading on these contracts in the stock market, including the implementation of arbitrage and hedging against risk through the use of local currencies, and the inclusion of Arab currencies provides a tool to appoint dealers and trade and investment, thus contributing to improving the performance of the local economy. "
The number Sagiit Kumar exchange contracts bottom of inclusion, including: first, allow to hedge against risk through the use of the platform Borse Dubai Gold and Commodities Exchange, in relation to investors regional institutional management companies and investment funds that have open centers in Arab countries (equity and bond markets and other capital markets segments), second: Subscribe Dubai Gold and Commodities popular as the stock market first take leadership Zamam the inclusion of these currencies in one basket, Third: allow regional banks to conduct hedging against risk through the use of regional currencies without relying on international currency.
Fourth: the achievement of industries, regional benefits and benefits due to the inclusion of Arab foreign exchange contracts, in particular with the implementation of interconnection projects between the countries of the Gulf Cooperation Council, fifth : allow central banks exposure Arab monitor their local currency international currency, VI: The inclusion of forward exchange contracts Arab movement improves the possibility of a single Gulf currency, seventh, opening the inclusion of contracts exchange Arabic how to remove the pegs to the U.S. dollar Arabic.
The Sagiit Kumar that the inclusion of Arab foreign exchange contracts will contribute to the increased presence of Arab brokerage firms in the context of the accession Dubai Gold and Commodities, and made to those affected by the inclusion of forward exchange contracts Arab Exchange, Dubai Gold and Commodities are those who realize the advantages and gains currency exchange rates in Arab countries.
Indicators Gulf shares decades priority
In response to a question whether the gold and commodity Dubai considering the possibility of inserting decades indicators for actions in the UAE and the Gulf, he said Gary Anderson said: "Virtue our Kporsh, we focus on products that meet the needs and desires of investors in the region, it is believed that at some point we will have the desire and the ability to insert clues decades of actions covering the entire region, and perhaps unlikely to do so in the year, but what happens is a possibility on the horizon of the future, we have the ability to accomplish this, and it will be our pleasure to make the inclusion of this product, so What the market wants. "
And as to whether the inclusion of indicators of Gulf stocks led to the creation of duplicate NASDAQ Dubai, which already include these products, said Gary Anderson that competition creates and health status, as NASDAQ Dubai covering a certain segment of the market, and if it is made Dubai Gold and Commodities the same question that included decades indicators Gulf fairness, we used another slice of traders, those traded on Nasdaq Dubai, one of the important things and indicators of the action is to raise the status of Dubai market semi-emerging-market economies lead to the UAE polarization much capital flows. "
However, in his speech, saying: "regarding products and new contracts that we expect to be included, they include contracts for stock indices, such as the inclusion of the index decades Sensex futures trading the first contracts for the Indian market index is included in the stock trading in the Middle East and North Africa, monitors the performance of the thirty Sensex index of the largest and most traded securities in the Bombay Stock Exchange.
We also welcome the inclusion of products that comply with Islamic law, but we need to know the views of market participants to learn about the quality of desirable products for inclusion, before we go forward to the inclusion of specific products, but the new trading system gives us the ability to include these products, and we hope that these products are included in our product portfolio in the future. "
The inclusion of spot gold this year and rolling stock funds in 2014,
Said Gary Anderson, CEO of Dubai Gold and Commodities is realistically possible, the inclusion of instant gold during the year, and will be followed by the inclusion of capital their shares on the market fellow, and I think in the first or second quarter of next year 2014 will be the appropriate time for the inclusion of rolling stock funds. "
He explained Gary Anderson that the inclusion of the time or greater transparency in the price of gold, where it is available to the public traders identify the price of gold, a situation which may not be available necessarily in the gold markets in kind, noting that gold cash drawers offer the possibility of identifying the best deals offers on the screen of the negotiation, and it allows access to quantities of or in kind by the exchange, which reduces the risks associated with the parts of the interview, where there are no such risks by traders when gold buying by banks, and thus, reduce the risks associated with capital contracts.
And if there will be market makers for spot gold decades, he said Gary Anderson said: Based on historical experience, it is always useful to have a market maker in any new contract, and therefore, will not be held Spot gold is different from these contracts, we check The study of gold bullion banks and gold refiners and traders to identify market makers for this contract , we strive to be this decade, enjoying the high "trading liquidity.
Shariah-compliant funds
Said Gary Anderson The inclusion of funds issue Shariah-compliant included in the agenda for the work of the Dubai Gold and Commodities for some time, but technological capabilities is a major obstacle to us do this step, noting that, thanks to the renovation trading platform has become the stock market has the technological capabilities, which qualifies for the inclusion of the quality of this product and related by time and demand, and expressed his belief that the release of funds guaranteed by gold is a priority issue for the moment, and it may be the first product to be included in the stock market, especially since the stock market has expertise in this field following the example of his, We want to ensure the application of this product is available in case insert