Media ININ Economy We Trust
Media IN ABU DHABI, 10th July, 2019 (WAM)
The Dubai Gold and Commodities Exchange, DGCX, has achieved considerable success over the past three years, enabling it to attain a leading international stature in the global commodities sector.
According to statistics issued by the Securities and Commodities Authority, SCA, the value of gold and commodities traded by the DGCX, which is unique in the Middle East, rose to around AED4.85 trillion (US$1.32 trillion).
As the authority that regulates securities in the country, the SCA is the regulator of the DGCX, and in 2006, a memorandum of Understanding, MoU, was signed between the SCA, the DGCX and various commodity derivatives markets.
In 2018, the DGCX achieved record numbers of trades, amounting to 22.26 million contracts valued at $474.94 billion, exceeding the total from the previous year.
Its average daily trading volume amounted to 86,615 contracts while its record daily trading volume in 2018 happened on 13th August, totalling 185,630 contracts.
May registered the highest monthly trading volume, amounting to 2,163,598 contracts while the number of contracts related to Indian Rupee products increased by 25 percent since 2017.
The value of currency contracts related to the six major countries grew by 9 percent since 2018. July registered the highest number of open contracts, exceeding 300,000.
In 2017, the value of contracts amounted to $404.69 billion, numbering 17.439 million contracts while the value of contracts in 2016 reached $439.5 billion, numbering around 16.669 million.
