Dubai Gold & Commodities Exchange Closes 2021 in Style

The Dubai Gold & Commodities Exchange (DGCX), the largest and most diversified derivatives exchange in the Middle East, has recorded a yearly average open interest (AOI) of 1,985,584 contracts and traded 7,076,350 contracts during the year – with its total value hitting US$149.676 billion. Announcing its full-year market statistics, DGCX said its best performing product in 2021 was its Indian Rupee Options (DINRO) Futures Contract, which traded up 1,233% 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 exchange 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. On its solid performance, CEO Les Male 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," he added.