DUBAI, January 7, 2022 (WAM) – The Dubai Gold and Commodities Exchange (DGCX) today published its market statistics for the full year. In 2021, the exchange recorded an annual AOI of 1,985,584 contracts and traded 7,076,350 contracts over the course of the year – for a total of $ 149.676 billion in contracts.
DGCX’s top performing product in 2021 was the futures contract on Indian rupees (DINRO), which is up 1,233 percent year-on-year (YOY).
As part of its broader cross-border collaboration, DGCX has also signed landmark agreements with S & Royal Group Mongolia to explore future business and trade opportunities and with the Financial Markets Regulatory in Sudan to strengthen the gold market across Africa.
In addition, the DGCX also signed a strategic letter of intent with the Victoria Falls Stock Exchange (VFEX) aimed at supporting the development of a clearing and settlement commodity exchange in Zimbabwe.
Trading was particularly busy in December, with over 727,784 million contracts traded during the month, led by the DGCX’s Indian rupee futures contract.
Les Male, CEO of DGCX, said: “In 2021, DGCX diversified its product portfolio, introduced new contracts such as the PKR futures contract and expanded our presence in the Israeli market. We have continued to focus on improving our systems capabilities . ” and technology infrastructure later this year – and our planned integration with Nasdaq is expected to be completed in the second quarter of 2023. At the beginning of 2022, we will continue to actively involve several stakeholders and will shortly be launching a number of innovative future contracts that will create added value for market participants and further consolidate our position in the Middle East. “
The DGCX closed the year with industry praise and was named “Stock Exchange of the Year – Middle East and Africa” for the fourth time in a row at the renowned FOW Global Investor MENA 2021 Awards.
In addition, the DCCC, a wholly owned subsidiary of DGCX that provides clearing and settlement services, was named “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 Settlement services excellent. which gave resilience and stability to financial markets. DCCC is the only Central Counterparty in the Middle East providing clearing services for multiple asset classes such as currencies, base and precious metals, hydrocarbons and equity derivatives, both index and individual stocks.
In 2021, the DGCX received its approval from the Israel Securities Service Agency (ISA), which allows qualified Israeli companies trading on a proprietary basis to become members of the DGCX and use its trading services and platforms.
In April, the DGCX Group launched its futures contract on the Pakistani rupee (PKR), the first of its kind on a regulated exchange in the world. To date, the contract has successfully traded a total of 8,765 lots valued at US $ 109.86 million, demonstrating market participants’ demand to diversify their exposure to the Pakistani market.
As a pioneer in developing and shaping the Islamic financial sector, DGCX has also been actively involved in partnerships with leading institutions to bring more Islamic products to the stock market, including its most recent partnership with Global Islamic Financial Services.
As part of its community activities, DGCX also recently partnered with Ajman University to advance the development of financial professionals by committing to sharing knowledge, co-hosting educational events, and providing access to academic and professional platforms.
During the year, the DGCX was also one of many exchange events around the world to raise awareness of the empowerment of women – by holding the 7th on International Women’s Day.