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DGCX to Postpone Plastics Futures Launch
DUBAI — Dubai Gold & Commodities Exchange (DGCX) announced on Wednesday that the launch of its Plastics Futures contract is to be postponed.
The launch of Polypropylene and Linear Low Density Polyethylene futures contracts for the
Commenting on the move to postpone the contract, James Bernard, Executive Director — Plastics, Dubai Multi Commodities Centre said “Although the product is ready to launch, the plastics industry needs more time to prepare for trading the contracts, particularly in light of the current economic climate”.
The rescheduling of the futures contracts is in line with DGCX’s strategy to launch the right products at the right time.
Malcolm Wall Morris, Chief Executive Office, DGCX, said “Throughout the development of these contracts, we have worked closely with the global plastics industry in order to meet their exact requirements. The physical delivery nature of these contracts requires complete readiness and familiarisation, as such we will continue to work in conjunction with participants to introduce the contracts when the industry is ready”.
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