The Dubai Gold and Commodities Exchange (DGCX) has reported that the exchange recorded a yearly AOI a sum of 1,985,584 contracts and traded 7,076,350 contracts during 2021 – with the total value of the contracts amounting to US$149.676 billion.
The DGCX’s best performing product in 2021 was its Indian Rupee Options (DINRO) Futures Contract, which traded up 1,233 percent year-on-year (Y-O-Y).
As part of its broader cross-border collaboration efforts, the DGCX also signed landmark agreements with the S & Royal Group Mongolia to explore future business and trade opportunities, as well as the Financial Markets Regulatory in Sudan, to strengthen the gold market across Africa.
Additionally, the DGCX also signed a strategic MoU with Victoria Falls Stock Exchange (VFEX) aimed at supporting with the development of a clearing and settlement commodities exchange in Zimbabwe.
Trading was particularly busy in December, with trade volumes of over 727,784 million contracts traded during the month, led by the DGCX’s Indian Rupee Future Contract.
Les Male, CEO of DGCX, said, “During 2021, the DGCX diversified its product portfolio, introducing new contracts such as the PKR Futures Contract as well as expanding our footprint into the Israeli market. We also continued to focus on upgrading our system capabilities and technology infrastructure during the year – and our planned integration with Nasdaq is set to complete in Q2 2023. As we begin 2022, we continue to actively engage several stakeholders and will soon launch a number of innovative future contracts that will create value for market participants and further consolidate our position in the Middle East.”
DGCX closed the year with industry plaudits, being named as ‘Exchange of the Year – Middle East and Africa’ at the prestigious FOW Global Investor MENA 2021 Awards for a fourth year in a row.
Additionally, the DCCC, a wholly owned subsidiary of DGCX providing clearing and settlement services was also awarded the ‘Clearing House of the Year – Middle East and Africa’ by the FOW Global Investor MENA 2021 Awards, in recognition of its clearing and settlement services, which provided resiliency and stability to financial markets. DCCC is the only Central Counter Party in the Middle East that offers clearing services across multiple asset classes such as Currencies, Base and Precious Metals, Hydrocarbons and Equity derivatives, both index and single stock.