DGCX

AcronymDefinition
DGCXDubai Gold & Commodities Exchange
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DGCX's flagship Gold Futures product also underpinned last month's trading, building on its strong performance in June on the back of global instability, trading 61,764 contracts, up 209 percent Y-O-Y.
Under the MoU, DGCX will work closely with MDX in areas of shared interest including trading, clearing, settlement, delivery of contracts, compliance and surveillance, contract design and pricing, technology, and risk management.
The DGCX, with the support of Ayedh Bin Dejem Group, one of the largest oil transportation and storage platforms in the region, launched the GCC's first and the world's only Shari'ah Compliant Spot Gold contract in March last year.
"We are confident that this Fatwa will encourage new participants to trade and invest in the world's only exchange traded Sharia compliant gold product, while giving additional confidence to existing Islamic investors," said Les Male, CEO of DGCX. "These types of financial instruments are significantly increasing in popularity, and greatly reflect the growing potential of Islamic finance across the UAE and wider GCC region."
DGCX beat stiff competition from the region's leading exchanges to win the award.
"DGCX performed exceptionally well in August, registering a record daily INR volume and continuing to achieve outstanding growth over 2017.
As the new version went live, DGCX launched the region's first, and world's only exchange-traded Shari'ah Compliant Spot Gold contract (DGSG), it said.
Gaurang Desai, Interim CEO of DGCX said: "We are delighted to introduce the new settlement facilities in UAE Dirhams.
The year 2012 also saw the DGCX setting many other records, including the highest quarterly volume of 2,877,392 contracts in the fourth quarter and the highest monthly volume of 1,057,508 contracts in October.
Dubai's government-owned commodities centre is poised to list copper futures on the Dubai Gold and Commodities Exchange (DGCX) soon as attractive market conditions provide a favourable environment for the exchange's long-standing plan.
This enables DGCX members and clients to make use of Orc Software's trading and pricing tools.
Les Male, CEO of DGCX, commented: "DGCX performed exceptionally well in August, registering a record daily INR volume and continuing to achieve outstanding growth over 2017.