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| Home : NGMEX Announces Launch of NGMEX Dollar Spot Index Futures |
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Aug 13
2020 |
NGMEX Announces Launch of NGMEX Dollar Spot Index Futures |
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The cash-settled Dollar Spot Index futures will offer operational simplicity for clearing members and customers with a U.S. Dollar cash settlement. |
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NGMEX, a full-service commodity and multi asset exchange that incorporates the complete workflow of a trading venue and also provides on-line commodity futures and option trading, is pleased to announce the launch of the NGMEX Dollar Spot Index futures contract. The contract will be available on the NGMEX platform and will follow the activity of 10 emerging and developed market currencies versus the U.S. dollar, pending all relevant regulatory review periods.
"In this time of heightened geopolitical uncertainty, this contract helps meet increasing customer demand for FX products as a tool to effectively manage global risk," said Atomu Sakamoto, NGMEX Executive Director FX Products. "We are extremely happy to cooperate with a leading market data provider to offer a futures contract that provides margin offsets against the existing deeply liquid FX products and a better measure of the U.S. dollar vs. the global market."
"Traders, investors and large corporations now have an innovative financial instrument to manage currency market volatility in a more effective way. A NGMEX futures contract on the Dollar Spot Index will better capture the value of the U.S. dollar by using a set of developed and emerging market currencies."
"We consider the US Dollar Spot Index a representative guideline for investors which allows them to access, trade or invest in the value of the greenback relative against major global currencies," said Masaru Abe, Head of Product & Business Development. "Additionally, we are pleased to see the launch of this NGMEX futures contract, a welcomed addition to accessing the tradability of an existing valuable index."
The key index and the futures contract will readjust annually to reflect global trading activity with the U.S. dollar involvement and correlated global foreign exchange volume.
Nagoya Mercantile Exchange (NGMEX)
NGMEX is a full-service multi asset exchange that incorporates the complete workflow of a trading venue and also provides on-line commodity futures and option trading. The organization believes in delivering nothing but the best to its loyal customers. From the individuals to the corporations, from institutions to the government agencies, NGMEX has always been a trusted establishment offering genuine industry insights and information on the benchmark commodity prices. NGMEX mission is to provide traders with state-of-the-art order entry capabilities, extremely competitive execution timing and the professional service that today's financial world demands.
https://ngmex.org |
| Source:https://www.1888pressrelease.com/ngmex-announces-launch-of-ngmex-dollar-spot-index-futures-pr-678807.html |
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