DGCX named ‘Exchange of the Year’ at FOW Global Investor MENA Awards 2017
Dubai, November 19th, 2017: The Dubai Gold & Commodities Exchange (DGCX), the largest and most diversified derivatives bourse in the Middle East, has been recognised as ‘Exchange of the Year’ at the FOW Global Investor MENA Awards 2017.
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 recognises outstanding performance and product launches that help differentiate the winning exchange from the rest of its peers.
Gaurang Desai, CEO of DGCX, said: “This is a big achievement for us at the DGCX, and I am grateful for every single colleague, member and partner that has been by our side in this incredible journey. Our drive to continuously deliver excellence, innovation and most importantly confidence to our investors and traders so that they can hedge their risks safely on our platform is what keeps us on our toes and makes our achievements even more meaningful.”
In September 2017, DGCX recorded its highest-ever daily volumes, trading 202,571 contracts with a notional value of USD4 billion. The Exchange is also working to launch the world’s first truly Shariah compliant Spot Gold contract, tapping into the burgeoning Islamic Finance industry. The April launch of the world’s first Yuan denominated Shanghai Gold Futures Contract, providing access to the Chinese bullion market was also a notable accomplishment for the Exchange.
Other significant achievements this year include receiving regulatory recognition from the European Securities Market Authority (ESMA) and the Abu Dhabi Global Market (ADGM) reinforcing DGCX’s MENA presence, as well as establishing Trading Campus, an academic initiative aimed at training aspiring young finance professionals, together with Envision Training Center.
Desai concluded: “DGCX offers a unique and diverse range of products catering to the evolving trading needs of regional market participants. Our plans for 2018 will continue to build on what we have achieved in the past while ensuring that we further expand our reach to different markets and increase the breadth of our product portfolio.”
ENDS
About DGCX: Established in 2005, DGCX is the region’s leading derivatives exchange and the only one allowing global participants to trade, clear and settle transactions within the Gulf region. The Exchange has played a pioneering role in developing the regional market for derivatives and financial infrastructure. DGCX is an electronic commodity and currency derivatives exchange with over 200 members from across the globe, offering futures and options contracts covering the precious metals, energy, equities and currency sectors. DGCX is a subsidiary of DMCC (Dubai Multi Commodities Centre), a Dubai Government Authority for trade, enterprise and commodities. For more information: www.dgcx.ae
DGCX also owns and operates the region’s largest and only multi-asset Clearing House – Dubai Commodities Clearing Corporation (DCCC). DCCC is federally regulated by the Securities & Commodities Authority (SCA) and is recognized as a Third-Country CCP by European Securities Markets Authority (ESMA) with over 90 clearers from across the globe. For more information: www.dccc.co.ae
Further Information:
Meng Chan Shu
Director of Business Development and Sales
Dubai Gold and Commodities Exchange
Tel: +971 4 361 1660
Email: meng.shu@dgcx.ae
or
Dhanya Issac/Lara Batato
Weber Shandwick PRs
Tel: +971 4 445 4222
Email: lbatato@webershandwick.com or lbatato@webershandwick.com