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Gold November 24, 2020 09:50:35 PM

DGCX Completed Fifteen Glorious Years of Operation

Paul Ploumis
ScrapMonster Author
The exchange has achieved several key milestones during its operation.

DGCX Completed Fifteen Glorious Years of Operation

SEATTLE (Scrap Monster): The Dubai Gold & Commodities Exchange (DGCX) - the largest and most diversified derivatives exchange in the Middle East, has completed 15 years of successful operations. The exchange has traded a total volume of 154 million lots over the past fifteen years. The value of trade has totalled around $4 trillion over this period.

The exchange has achieved several key milestones during its operation. The various contracts launched by it over the years have witnessed record trading. It has been in the forefront in introducing new products in response to changing investor attitudes. For instance, it offers the world’s only Shari’ah compliant spot gold contract. The DGCX, due to its strategic geographic location between the Far East, Europe and Africa, has served as a unique, global window for traders and investors.

ALSO READ: DGCX Posted Strong Momentum Amidst Currency Violation

Commenting on achieving the milestone, Les Male, CEO, DGCX said that the exchange’s contracts have played key role in opening the doors for traders in the US and Europe by providing offshore access to specific regional markets such as India. The exchange is excited to be part of the country’s future growth, by building upon the UAE’s ability to innovate as a leading hub between East and the West, he added.

Though 2020 has been particularly challenging, due to the global pandemic, the exchange remains optimistic about its role as a leading international hub of trade, said Ahmed bin Sulayem, Chairman, DGCX.

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