DGCX Wins ‘Exchange of the Year’ Accolade at Global Investor MENA Awards 2018
- DGCX’s outstanding performance over the last 12 months saw it beat competition from region’s leading exchanges
- The Exchange’s exceptional growth continued in November as it broke its all-time annual volumes record
The Dubai Gold and Commodities Exchange (DGCX) has been named, for the second consecutive year, ‘Exchange of the Year’ at the prestigious Global Investor MENA Awards 2018. The award recognised DGCX’s exceptional performance over the last 12 months, which saw it record new all-time trading highs, launch innovative products, services and initiatives, as well as implementing cutting-edge technology to better serve the needs of its clients.
DGCX beat stiff competition from the region’s leading exchanges to win the award. In the qualifying period, the Exchange traded over 19.3 million contracts, setting a new overall volume record, with notional value exceeding USD 441 billion.
Les Male, CEO of DGCX, commented:“It is an honour to receive this award and have our hard work over the last 12 months recognised by our industry peers. 2018 has been a significant year for DGCX in terms of growth, evolution and innovation, and this prestigious accolade reaffirms our growing profile both regionally and internationally.”
The Exchange has also been shortlisted for the ‘Middle East / African Exchange’ award at the upcoming Future & Options World (FOW) International Awards in December, which will celebrate the achievements of the top performing global derivatives exchanges and trading houses.
“Coinciding with this achievement, we are delighted to announce that DGCX broke its all-time annual volumes record in November. This is a huge milestone for us, and indicates that our efforts to add more depth to the marketplace and meet investment and hedging needs have been successful. We remain extremely upbeat as we approach the end of year, and we look forward to delivering further excellence, innovation and most importantly confidence to our investors and traders,”Male added.
DGCX has now traded 20.3 million contracts year-to-date (Y-T-D), up 27% year-on-year (Y-O-Y), surpassing its previous annual volumes record of 19.67 million contracts on November 20th.
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 175 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 80 clearers from across the globe. For more information: www.dccc.co.ae
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