Over 20 Million Contracts Valued at USD 373 Billion Traded on DGCX so far this Year

Exchange on course to break last year’s Annual Volumes record of 22.3 million contracts traded

The Dubai Gold and Commodities Exchange (DGCX) is on course to break last year’s Annual Volumes record of 22.3 million contracts traded, having already traded 20.3 million contracts this year, valued at USD 373 billion. Last month, the DGCX traded 1.68 million contracts, and registered Average Daily Volumes (ADV) of 72,921, up 11.5% year-on-year (Y-O-Y).

DGCX’s success this year comes amidst continued global volatility and ongoing efforts to widen investor participation and enhance liquidity. Last month, the DGCX built on this momentum and expanded its member community, listing RAKBANK as a new Trade Member. Meanwhile, October’s trading was underpinned by the DGCX’s flagship Gold Futures product, which recorded Y-O-Y ADV growth of 377%, and year-to-date (Y-T-D) total volume growth of 70% compared to the same period last year.

The DGCX’s INR Quanto Futures contract also performed strongly, registering substantial Y-T-D total volume growth of 116% compared to the same period last year, while Brent Crude Oil Futures recorded Y-T-D total volume growth of 38% compared to the same period last year.

Les Male, CEO of DGCX, commented: “The DGCX’s strategic focus throughout 2019 has been on diversifying our product offering based on our market participants’ needs, and expanding our membership base both locally and globally. We have achieved remarkable success on both fronts so far this year, allowing us to strengthen our unique value proposition and break numerous records. We are looking forward to a strong finish to the year, and are confident we will see increased demand for our derivatives products on the back of continued global volatility.”

DGCX closed the month with Les Male being recognized by Forbes Middle East as the 11th ‘Top International CEO Heading a Local Company’, as well as winning the Global Exchange of the Year at the Burj CEO awards.

“These prestigious awards are a reflection of the DGCX Group’s hard work and collective success so far this year. The entire team has worked diligently to ensure we remain the region’s leading derivatives Exchange and continuously deliver excellence, and these accolades strongly reaffirm their achievements.” Male added.