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 ShanghaiGold 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.  

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