Improved market conditions a precursor to launch of plastics futures at Dubai Multi Commodities Centre

The Dubai Gold and Commodities Exchange (DGCX) plans to wait for market conditions to improve before it launches its plastics future. The DGCX seeks encouraging feedback from the region's plastics industry to launch the plastics futures contracts. The CEO of the exchange said "Plastics are a niche segment and the overall surge in commodity volumes may not correspond to participants' interest in plastics. Although the products were ready and DGCX was on track to launch them – the plastics industry required more time to prepare for trading.” Investors in Dubai have been speculating that DGCX may launch the plastics contract sooner than expected considering the recent surge in the commodities. Total volume on DGCX reached a record 158,074 contracts in May – the highest monthly volume achieved in 2009. The underlying asset for the plastics futures that DGCX plans to launch is polypropylene. It will have two trading symbols; DPPM (polypropylene – Middle East) and DPPS (polypropylene – South East Asia).
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