Futures Trading - Dubai's DGCX eyes two energy futures products - Reuters UK- Topic: Futures News

DUBAI, May 19 (Reuters) - The Dubai Gold and Commodities Exchange (DGCX) plans to launch two energy products, possibly futures contracts, to help position Dubai as the Gulf's energy trading hub, industry sources and brokers said on Monday. The Dubai Multi Commodities Centre (DMCC), which owns a majority stake in the bourse, said in November it was planning to launch a liquefied natural gas futures contract on the exchange platform soon, as surging energy prices increase demand for hedging tools. The sources and member brokers did not reveal the products, but said they be could LNG, crude, gas oil or gasoline, which is the only refined product in which the Middle East as a region is net short, with Iran being one of the world's largest importers. DGCX is planning to launch four plastics contracts later this year as high energy prices encourage designers to make buildings, cars and aircraft as energy-efficient as possible, increasing demand for light materials such as plastics. read more

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