Dubai – Mubasher: The Dubai Gold and Commodities Exchange (DGCX) was named ‘Exchange of the Year’ at the FOW Global Investor MENA Awards 2019 for its exceptional growth in achieving numerous records for trading volume, notional value, and open interest.
The ‘Exchange of the Year’ winner is chosen as per the Exchange’s ability to meet investors’ demands through derivatives contracts. The award looks at outstanding performance and product launches that help to identify the winning exchange from the remaining peers, according to a press release on Thursday.
"Winning this is a huge achievement and testament to the DGCX’s incredible journey of growth over the last twelve months. We continuously strive to deliver excellence, innovation, and confidence to our investors and traders, so being recognized for our remarkable performance is hugely gratifying and encourages us to continue our efforts and keep building on our accomplishments," CEO of DGCX, Les Male, commented.
DGCX broke an overall volume record through the trading of over 22.2 million contracts during the qualifying period, with a notional value totalling more than $449 billion, strengthening a leading position across key markets.
Participation from investors was broadened and the market’s turnover was improved, becoming the biggest global liquidity pool for Indian Rupee trading, the statement noted.
DGCX is a hedging and investment hub for market participants as proven by its high-level performance in FX futures and currency pairs amid continuous geopolitical tensions across Europe, the US, and Asia.
