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DGCX marks 10th year on a record breaking note

Staff Report/Dubai
Filed on January 12, 2016 | Last updated on January 12, 2016 at 07.25 am

The Dubai Gold & Commodities Exchange concluded the fiscal year with record-breaking trading volumes of over 14.5 million contracts.

The Dubai Gold & Commodities Exchange (DGCX) announced on Monday that it concluded the fiscal year with record-breaking trading volumes of over 14.5 million contracts - an increase of 23 per cent compared with 2014.

The month of December saw the DGCX open for Dubai Spot Gold contracts enabling investors to buy and sell physical one kilogramme bars on the exchange for the first time. The Spot Gold Contract has successfully completed physical delivery cycle through DMCC Tradeflow's electronic warranting and delivery mechanism.

The exchange also launched its Chinese Yuan futures contracts in December which will further facilitate participation in the movement of the Chinese currency market and enable traders to track CNH price returns.

Rounding off a year of high performance, Gaurang Desai, CEO of DGCX, commented: "With record-high trading volumes and the launch of our Spot Gold Contract in 2015, DGCX is clearly positioned as the Middle East's leading derivatives bourse and well prepared to grow and develop our commodities trading platform so market participants can trade efficiently and with confidence".

DGCX introduced a total of seven new contracts in 2015 including three Quanto style futures contracts in the Indian Rupee, India Gold and India Silver; two mini contracts in the hydrocarbons segment on Mini Polypropylene and the 100 barrel Mini WTI; as well as the Chinese Yuan futures and Dubai Spot Gold Contract in December 2015.

- business@khaleejtimes.com





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