Plastics futures to launch on DGCX
According to James Bernard, associate director of the Dubai Multi Commodity Centre, the majority owners of the DGCX, the products were chosen because they are the plastics that are traded at the highest volume. "Linear and polypropylene are the biggest volume plastics out there - they are equivalent to aluminium and copper in the metals world," he says. "These contracts will allow everyone to use the index price as a benchmark," he adds.
DGCX chief executive officer Malcolm Wall Morris says that
More on Oil & refined products
Energy Risk Europe Leaders’ Network: geopolitical risk
Energy Risk’s European Leaders’ Network had its first meeting in November to discuss the risks posed to energy firms by recent geopolitical developments
US shutdown leaves commodity traders without key data
Commodity traders are ‘flying blind’ without Commitment of Traders reports
Energy Risk at 30: Learning from the past
Energy Risk looks back at the seminal events and developments that have shaped today’s energy markets
Why Iran tensions failed to rattle markets
Despite initial fears, traders say risks were signposted and investors had deleveraged after April
Oil and products house of the year: Macquarie Group
Energy Risk Awards: Bank pioneers innovative deals in illiquid markets, taking on esoteric risk
Podcast: should negative oil prices be allowed?
Did negative oil prices signify the market was operating effectively, or that something was wrong?
Podcast: the future of retail investment in oil
Will negative prices and big losses curb retail investors’ appetite for oil futures over the longer term?
Podcast: Kaminski and Ronn on negative oil and options pricing
The market is gravitating to the Bachelier model as an alternative to Black 76