Total Volumes on the DGCX hit 21.85 million contracts this year, valued at over USD 400 billion
Total volumes on the Dubai Gold and Commodities Exchange (DGCX) this year stood at over 21.85 million contracts at the end of November, valued at more than USD 400 billion. This month (November), the DGCX traded 1.54 million contracts, and registered Average Open Interest (AOI) of 299,575 with the Exchange showing 15% growth in AOI in 2019.
The best performing asset class in November was the Indian Rupee (INR) product suite, which registered year-to-date (Y-T-D) volume growth of 17% from 2018 and an AOI increase of 10%. Trading this month was also underpinned by DGCX’s flagship Gold Futures product, which recorded Y-T-D total volume growth of 94% compared to the same period last year, and year-on-year (Y-O-Y) Average Daily Volume (ADV) growth of 452%.
Les Male, CEO of DGCX, commented: “The DGCX remains on track to break the annual volumes record we set in 2018 of 22.3 million contracts traded, and close the year on a high note. This attests to our ability to meet the constantly evolving needs of our market participants, and continuously deliver excellence, innovation, and diversified financial instruments. This unique value proposition has not gone unnoticed, as we collected two prestigious awards earlier this month, to which I would like to congratulate every single colleague, member and partner that has been part of the DGCX’s incredible journey so far.”
DGCX picked up two awards earlier this month. It won the ‘Global Exchange of the Year’ award at the Burj CEO awards, and was recognized as ‘Exchange of the Year’ at the FOW Global Investor MENA Awards 2019 for its remarkable growth over the year, in which the Exchange broke numerous records for trading volume, notional value and open interest.
“As we turn our attention to 2020, we will continue to build on what we have achieved this year, further expanding our reach to different markets and increasing the breadth of our product portfolio to meet the hedging and investment needs of our participants across the globe,” added Male.
About DGCX: Established in 2005, DGCX is the region’s leading derivatives exchange and the only one allowing global participants to trade, clear and settle transactions within the Gulf region. The Exchange has played a pioneering role in developing the regional market for derivatives and financial infrastructure. DGCX is an electronic commodity and currency derivatives exchange with over 200 members from across the globe, offering futures and options contracts covering the precious metals, energy, equities and currency sectors. DGCX is a subsidiary of DMCC (Dubai Multi Commodities Centre), a Dubai Government Authority for trade, enterprise and commodities. For more information: www.dgcx.ae
DGCX also owns and operates the region’s largest and only multi-asset Clearing House – Dubai Commodities Clearing Corporation (DCCC). DCCC is federally regulated by the Securities & Commodities Authority (SCA) and is recognized as a Third-Country CCP by European Securities Markets Authority (ESMA) with over 90 clearers from across the globe. For more information: www.dccc.co.ae
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