JRG International has executed the first trade in Indian rupee options contract outside India through the Dubai Gold and Commodities Exchange (DGCX).
DGCX is the only exchange outside India to offer trading in both futures and options in the Indian rupee, a company statement issued here said.
The first trade in Indian rupee options contract was executed by Mr Hazza Mohammed Al Daheri, Chairman and Managing Director, JRG International, in the presence of directors, introducing brokers, industry experts and investors at IBMC Investors Club, Abu Dhabi.
Options trading in the Indian rupee will allow traders to trade by taking limited risk, escape from margin calls and trade with the knowledge of potential maximum loss. Traders can execute trades by paying a premium amount rather than margin amounts. Moreover traders can hedge with open futures positions using options strategies. Also traders can enter the market and utilise maximum benefits at any situation and can start trading with limited investment amounts, Mr Sajith Kumar PK, CEO and Director, JRG International, said in the statement.
As options trading and strategies are useful for trades and investors, JRG International decided to provide free training in INR options trading to customers through the IBMC Investors' Club located in Dubai, Abu Dhabi and Sharjah, he said.
On September 22, the Indian rupee contract at DGCX recorded its highest ever daily volume of 34,046 contracts valued at $1.37 billion, a jump from the previous daily high of 27,406 contracts achieved on August 19.