The Dubai Gold and Commodities Exchange announced that it will hold a special trading session on the first of February 2020, to allow market participants to hedge against the risks they face before, during and after the announcement of the Federation's budget in India for 2020.
The Stock Exchange stated, in a statement yesterday, that all products listed on the Dubai Gold and Commodities Exchange will be available for trading during the session, as the trading market will be opened from 07:00 Dubai time until 15:30 from the same day.
According to the stock exchange, post-trading reports will be available for download from 16:30, as for trades concluded on Friday 30 January 2020, they will be settled on Saturday, February 1, and all trades concluded on the first Saturday of February will be settled. On the third Monday of February.
The CEO of the Dubai Gold and Commodities Exchange, Not Mile, said: “Our decision to make this extraordinary announcement came after consulting with members of the Dubai Gold and Commodities Exchange group, because an important event on the size of the Union’s budget in India will have a significant impact on the markets, and we have seen that we can Offering a great opportunity for traders to hedge against risks, based on our approach of (the customer first) on the DGCX. ”
The Dubai Gold and Commodities Exchange held a special trading session on February 28, 2015, which at that time saw trades covering all of the Indian rupee products, asset classes of precious metals and stocks.
The exchange enables hedging against risks before, during and after the announcement of the Union's budget in India 2020.