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Dubai exchange exploring options as India stops licensing securities abroad

DUBAI: The Dubai Gold and Commodities Exchange (DGCX) said o..

DUBAI: The Dubai Gold and Commodities Exchange (DGCX) said on Monday it was working with Indian exchanges to explore alternatives after India's three main stock exchanges declared they would stop licensing their indexes and securities abroad.

The Indian decision appears to threaten several products offered by the DGCX, which trades futures based on the Bombay Stock Exchange's Sensex index, futures based on single Indian stocks, and Indian rupee and U.S. dollar-based futures for an Indian index compiled using methodology from MSCI.

"DGCX is working very closely with the Bombay Stock Exchange (BSE) as well as India International Exchange (INX) to explore alternative offerings, which will be communicated in due course," it said.

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