DGCX Archives - The Industry Spread

DGCX Welcomes RAKBANK to the Exchange, Underpinning its Expanding Member Community

October 26, 2019

The Dubai Gold and Commodities Exchange (DGCX) today announced that RAKBANK has been listed as a new Trade Member of the Exchange. The move underpins DGCX’s rapidly growing member community, and highlights the mounting interest from large, regionally based financial institutions to access the Exchange for hedging and investment opportunities.

DGCX Trades over 3 Million Contracts in a Month for the First Time

September 6, 2019

The Dubai Gold and Commodities Exchange (DGCX) in August traded over 3 million contracts in a month for the first time ever, smashing its previous record of 2.38 million contracts set in July. The 3.22 million lots traded and cleared in August were valued at USD 52.72 billion, also an all-time record.

DGCX Records Best Ever Month in its 14-Year History

August 7, 2019

The Dubai Gold and Commodities Exchange (DGCX) has registered its best ever month in its 14-year history, DGCX Records volume of 2.382 million lots valued at over USD 39.2 billion in July, breaking the Exchange’s previous single month trading record of 2.16 million set in May 2018.

DGCX signs MoU with Multi Derivatives Exchange Nepal

July 22, 2019

The Dubai Gold & Commodities Exchange (DGCX) and the Multi Derivatives Exchange Nepal (MDX), a proposed derivatives exchange in Nepal that has applied for a regulatory license from SEBON to operate a commodities and derivatives exchange, today announced the signing of a Memorandum of Understanding (MoU), agreeing to collaborate and share knowledge on areas of mutual benefit surrounding commodity trading. DGCX and MDX will host workshops and meetings to further the scale of the alliance and promote strong cooperation between the exchanges.

DGCX Sees Gold Futures Trading Surge as Investors Flock to Safe-Haven Assets

July 5, 2019

The Dubai Gold & Commodities Exchange (DGCX) saw a surge in trading on its flagship Gold Futures product last month, as increasing geopolitical tensions across the globe drove investors towards safe-haven assets. The product recorded month-on-month (M-O-M) average daily volume growth (ADV) of 507.4%, and year-on-year ADV growth of 225.5%, while also registering M-O-M Average Open Interest (AOI) growth of 90.7%.

DGCX Records Best April Since Inception with Uptick in Indian Rupee and G6 Currencies Trading

May 9, 2019

The Dubai Gold & Commodities Exchange (DGCX) achieved its best April performance since inception, with overall volumes reaching 1,696,877 contracts, valued at USD 32.29 billion. Last month’s record-breaking performance was largely driven by an uptick in Indian Rupee (INR) trading fuelled by India’s upcoming elections, as well as ongoing geopolitical tensions across Europe, the United States, and Asia, which have helped maintain elevated volumes in other contracts across the Exchange.

McKay Brothers to connect DGCX with its ultra-low latency network

April 29, 2019

The Dubai Gold and Commodities Exchange (DGCX) and McKay Brothers International (MBI), a leading provider of microwave-based private bandwidth and market data services, announced today that MBI has connected the Exchange to its European and US ultra-low latency network.

DGCX’s Spot Gold Contract Receives Further Shari’ah Certification

April 10, 2019

The Dubai Gold & Commodities Exchange (DGCX) has received a new Shari’ah certification for its Shari’ah Compliant Spot Gold contract (DGSG). The Shari’ah Pronouncement (Fatwa) was issued by Minhaj Advisory, a leading Dubai-based Islamic advisory firm, and determined that DGSG meets all the necessary Shari’ah requirements in line with Islamic rules and principles.