The Dubai Gold & Commodities Exchange (DGCX) has been recognized as ‘Exchange of the Year’ at the FOW Global Investor MENA Awards 2019 for its remarkable growth, in which it broke numerous records for trading volume, notional value and open interest.
The ‘Exchange of the Year’ winner is carefully selected from a pool of candidates, based on the Exchange’s ability to cater to investors’ demands through derivatives contracts. The award also recognizes outstanding performance and product launches that help differentiate the winning exchange from the rest of its peers.
Les Male, CEO of DGCX, commented: “Winning this is a huge achievement and testament to the DGCX’s incredible journey of growth over the last twelve months. We continuously strive to deliver excellence, innovation and confidence to our investors and traders, so being recognized for our remarkable performance is hugely gratifying and encourages us to continue our efforts and keep building on our accomplishments.”
During the qualifying period, the DGCX traded over 22.2 million contracts, setting a new overall volume record, with notional value exceeding USD 449 billion, setting itself apart from its peer group within the region and cementing its leading position within key markets.
The DGCX also widened investor participation and enhanced liquidity in the market during the qualifying period, whilst remaining the largest global liquidity pool for Indian Rupee trading.
In addition, market participants increasingly relied on DGCX for hedging and investment purposes, as evidenced by its strong performance in FX futures and currency pairs during ongoing geopolitical tensions across Europe, the United States and Asia. DGCX’s Indian Rupee products – INR future, Indian Rupee Quanto Future and the INR-USD Options, drove record-breaking performance for DGCX during the qualifying period.