Sharjah24 – WAM: The Dubai Gold and Commodities Exchange (DGCX) released its market statistics for the entire year on Friday. In 2021, the exchange recorded an annual AOI of 1,985,584 contracts and traded 7,076,350 contracts during the year, for a total contract value of US $ 149.676 billion.
DGCX’s best-performing product in 2021 was its Indian Rupee Options Futures (DINRO), which traded up 1,233% year-on-year (YOY).
As part of its broader cross-border collaboration efforts, DGCX has also signed landmark agreements with S & Royal Group Mongolia to explore future business and business opportunities, as well as financial market regulation in Sudan, to strengthen the market. gold in Africa.
In addition, DGCX also signed a strategic memorandum of understanding with Victoria Falls Stock Exchange (VFEX) to support the development of a commodity clearing and settlement exchange in Zimbabwe.
Trading was particularly active in December, with trading volumes of over 727,784 million contracts traded in the month, led by the DGCX Indian Rupee futures contract.
Les Male, CEO of DGCX, said: “During 2021, DGCX has diversified its product portfolio, introducing new contracts such as the PKR futures contract and expanding our presence in 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 expected to be completed in the second quarter of 2023. As we begin 2022, we continue to actively engage multiple stakeholders and will launch a number of future ones soon. innovative contracts that will create value for market players and further consolidate our position in the Middle East. “
DGCX closed the year with applause from the industry, being named “Exchange of the Year – Middle East & Africa” at the prestigious FOW Global Investor MENA 2021 Awards for the fourth consecutive year.
In addition, the DCCC, a wholly owned subsidiary of DGCX providing clearing and settlement services, also received the award of “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 resilience and stability to financial markets. DCCC is the only central counterparty in the Middle East that offers clearing services in several asset classes such as currencies, base and precious metals, hydrocarbons and equity derivatives, both on index and on single action.
In 2021, DGCX received its license from the Israel Securities Authority (ISA), allowing qualified Israeli companies that trade on an exclusive basis to become members of DGCX and use its trading services and platforms.
In April, the DGCX Group launched its Pakistani Rupee (PKR) futures contract, 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 the demand from market players to diversify their exposure to the Pakistani market.
At the forefront of the development and training of the Islamic finance sector, DGCX has also been actively involved in partnerships with leading institutions to bring more Islamic products to the Stock Exchange, including its recent partnership with Global Islamic Financial Services.
As part of its community outreach, DGCX also recently partnered with Ajman University to foster the development of finance professionals by committing to sharing knowledge, co-hosting educational events and provide access to academic and professional platforms.
During the year, DGCX was also one of many exchanges around the world to raise awareness about women’s empowerment – celebrating the 7th annual “Ring the Bell for Gender Equality” ceremony at the occasion of International Women’s Day.