DGCX celebrates 12th Anniversary with Launch of Additional SSFs and Exchange of the Year Recognition

DGCX celebrates 12th Anniversary with Launch of Additional SSFs and Exchange of the Year Recognition

    • DGCX records highest ever monthly volume of 2,078,754 contracts and highest ever Average Daily Volume of 94,489 in November 2017
    • DGCX recognized as the ‘Exchange of the Year’ by FOW Global Investor MENA Awards
    • The Exchange to list 44 blue-chip Indian SSF and expand its equities portfolio

Dubai, December 3, 2017: The Dubai Gold & Commodities Exchange (DGCX), the region’s largest and most diverse derivatives bourse, celebrated its 12th anniversary and ended November on a successful note. The Exchange announced earlier in November that it had received the regulatory approval to launch an additional 44 blue-chip Indian Single Stock Futures (SSF) which will see DGCX expanding its Equities asset class vertical. Furthermore, DGCX was awarded ‘Exchange of the Year’ by the Futures Options World (FOW) Global Investor MENA Awards 2017.

On the volumes front, DGCX recorded the highest ever monthly volume of 2,078,754 contracts, and the highest ever Average Daily Volume of 94,489 contracts in November 2017.  The Exchange’s G6 Currencies portfolio set various new records with growth up 233% year-on-year and Open Interest (OI) up 428% over the same time frame. Specifically, the Euro, Yen and GBP were the main drivers. The strength and growth witnessed across the G6 currency pairs highlight that traders and investors are increasingly relying on DGCX currency derivatives to protect themselves from market instability and price fluctuations from financial and geopolitical uncertainties.

In the precious metals segment, Dubai India Gold and the DGCX Shanghai Gold performed remarkably well, clocking up monthly Average Daily Volume growth of 92% and 41% respectively.

Additionally, the BSE Sensex contract, recorded its highest Average Open Interest of 2,179 contracts, benefitting from increased hedging activity against Indian SSFs. This is linked to the recent announcement of the launch of the 44 new contracts – which will cover all the components of the Nifty 50, the other of the two most notable Indices in India.

Gaurang Desai, Chief Executive Officer of the DGCX, commented on November’s performance: “We’ve had number of significant achievements this month, ranging from an industry accolade to specific contracts recording robust volume growth, all of which highlight DGCX’s strong position in the regional and international derivatives space.

As we celebrate the Exchange’s 12th year anniversary, we are immensely proud of all our accomplishments this year – most notably, the ESMA recognition of our CCP, launch of DGCX Shanghai Gold futures, and the upcoming listing of additional blue-chip Indian SSF’s. The feather in the cap, of course, was our most recent win at the FOW Global Investor Awards, where DGCX was recognized as the ‘Exchange of the Year’ amongst peers and the wider derivatives industry.”

“We at the DGCX are treading an exciting and innovative path, and we are upbeat about our future product initiatives and confident about the growth trajectory of our existing contracts,” added Desai.

The DGCX is set to officially list the new 44 Indian SSF on December 8th, which will provide investors access to trade blue-chip Indian stocks from the region’s largest and most diversified derivatives bourse. Furthermore, this is expected to drive increased participation in the DGCX marketplace. The WTI and Brent calendar spreads have also begun live trading this month and likely to show promising returns as the year comes to a close.

 

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

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DGCX named ‘Exchange of the Year’ at FOW Global Investor MENA Awards 2017

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

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DGCX Adds 44 Blue-chip Indian Single Stock Futures to its Equities Portfolio

DGCX Adds 44 Blue-chip Indian Single Stock Futures to its Equities Portfolio

Dubai, November 13th, 2017: Encouraged by strong investor appetite and robust trading performance on its existing Indian Single Stock Futures (SSF), the Dubai Gold & Commodities Exchange (DGCX), having received regulatory approval, today announced the launch of an additional 44 blue-chip Indian SSF, further expanding its Equities asset class vertical.  With the listing of additional Indian SSF, local and regional traders can now participate in the price performance of numerous stocks that fall within the major indices in India. Additional SSFs will be listed for trading on Exchange from December 8th, 2017.

DGCX Indian SSFs mirror the price of selected underlying Indian stocks, providing traders and investors with the ability to replicate price performance for their usual equity trading strategies with the advantages of futures products and centralized clearing. This provides the added benefit of access to Indian equities with the familiarity of cash settlement, appealing to market participants from the professional and retail community.

The Exchange’s Indian SSF witnessed strong growth from July to the end of October 2017, trading a total of 851,108 contracts, up ten-fold from 2016, with a value of USD$ 5.42 billion. In October, the average daily volume was 10,750 lots valued at USD 64 million per day, with Open Interest of 2,042 lots.

Gaurang Desai, CEO of the Dubai Gold and Commodities Exchange (DGCX), commented on the launch:“We’ve seen volume growing strongly in our Indian SSF throughout 2017, which further encouraged us to add a whole range of Indian SSFs in our Equity portfolio. The new Indian SSF will continue to be traded and settled in USD beyond Indian market hours and comes without any foreign exchange risk, in a tax-free ecosystem.”

Some of the new additions include Hindustan Unilever, Tata Motors, Tata Steel, Wipro, Hindustan Petroleum Corporation, HCL Technologies, Bank of Baroda, Bosch Ltd, Zee Entertainment Enterprises Ltd and Indian Oil Corporation Ltd.

Gaurang added: “Providing our members and traders with access to participate in the growth and price performance of Indian blue-chip companies through our own platform is unique in the international markets, and in line with our commitment to be pioneers in the growth of the regional derivatives industry while growing our Equities asset class vertical. Our endeavour is to meet the investment and hedging needs of a broader range of market participants in the region as well as worldwide, and in keeping with that goal, we will continue to expand the breadth and depth of our product range.”

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: 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

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DGCX Volumes grow in Currencies and Stock Futures in October

DGCX Volumes grow in Currencies and Stock Futures in October

Dubai, November 1, 2017:  The month of October opened on a volatile note with geo-political tensions in Europe, the US, and Asia, which led investors and traders to increasingly turn to derivative instruments to hedge and mitigate the impact of volatility. The Dubai Gold & Commodities Exchange (DGCX) witnessed increased trading volumes in its G6 currencies and Indian SSF as traders sought protection from increasingly erratic sentiment.

DGCX’s G6 Currency portfolio continued its strong growth trajectory seen in recent months, recording a 225% year-on-year increase. Among the G6 currency pairs, the Euro and British Pound futures recorded their highest monthly Average Open Interest (AOI) of 2077 and 1275 contracts respectively. Year-to-date (YTD) trading volumes in the two currency pairs registered impressive growth of 112% and 36% compared to the same period last year. Trading volumes in Japanese Yen saw an increase of 205% year-on-year while also recording significant YTD growth of 189%.  The Swiss Franc, Canadian Dollar, and Australian Dollar registered year-on-year growth of 438%, 458% and 95%, respectively.

Gaurang Desai, CEO of DGCX, commented on October volumes: “As the largest and most diversified bourse in the Middle East, we are committed to providing our traders and members with a range of trading options across different asset classes to manage their risk effectively in times when they most need it. We are pleased to see our G6 currency portfolio achieve stronger trading volumes this month, as this demonstrates that DGCX currency derivatives products are increasingly used by traders for hedging and risk management purposes. We will continue to push forward with our efforts to provide our market participants with a diverse array of products and tools so that they are in a better position to take advantage and protect themselves during volatility spikes.”

DGCX Indian Single Stock Futures (SSF) have traded an aggregate 877,218 contracts this year, showing ten-fold growth over the same period last year. While trading their highest ever daily volume of 17,959 contracts on October 25th which also coincided with an all-time high in AOI for the BSE Sensex Index Futures.

“The strength of volumes in the Equity portfolio emphasizes a rising appetite among traders to access and trade Indian blue-chip stocks that have been made available in the region by the DGCX.” Desai added.

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

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DGCX Records Its Highest-Ever Daily Volume and Sees Growth in Euro Futures Trading Amidst Volatility Spikes

DGCX Records Its Highest-Ever Daily Volume and Sees Growth in Euro Futures Trading Amidst Volatility Spikes

Dubai, October 01, 2017: The Dubai Gold and Commodities Exchange (DGCX), the region’s largest and most diversified derivatives bourse, recorded its highest ever daily volume on September 27, trading 202,571 contracts with a notional value of USD 4 billion. Amidst spikes in market volatility following months of relative calm, monthly volumes also reached their highest ever in September, with 1.87 million lots transacted, and an all-time high Average Daily Volume (ADV) record of 93,604 contracts.

Volumes in the G6 currency portfolio are up 44% from August. In particular, the Euro and British Pound futures contracts performed extremely well, recording impressive month-on-month growth of 67% and 19% respectively. The Euro has traded its highest volume with 172,291 contracts so far this year, while the British Pound recorded its highest average Open Interest (OI) of 832 contracts. Additionally, the Exchange’s innovative product offering, Indian Single Stock Futures (SSFs) witnessed growth of 14% month-on-month.

In the precious metals segment, the Exchange’s flagship Gold contract; Dubai Gold, achieved its highest Average OI since 2012. Meanwhile, the Dubai India Gold Quanto recorded its highest OI of 2,806 contracts on September 11, 2017.

Gaurang Desai, CEO of DGCX, commented: “September was a notable month for DGCX, and we thank our members, customers, and partners for their constant support. Not only did we achieve our highest-ever monthly average daily volume, which is a proud and exciting moment for us, but we collectively continued to push the envelope. This includes our recent tie-up with the Market Data Connect service making DGCX contracts ever more accessible to traders in London and being recognized for pioneering contracts that provide significant value to investors and traders. As the largest derivatives Exchange in the region, our endeavor is to improve our capabilities and provide innovative offerings which will support DGCX market participants to make well-informed decisions amid any market situation.”

At the recently held FOW & Global Investor Asia Capital Markets Awards in Singapore, DGCX won accolades for its Dubai India Crude Oil Futures (DICO) contract, which was voted as the ‘Best New Derivatives Contract’. This is the second year in a row that DGCX has received this award, recognized by industry partners and peers worldwide.

Gaurang concluded: “We are working towards launching the region’s first Sharia Spot Gold product, which will help us to meet the latent demand amongst regional traders, as well as take a major step forward in establishing Dubai and the UAE as a world-leading Islamic Finance hub.”

 

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 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 recognised 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 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

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