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What is Dubai Gold and Commodity Exchange DGCX?

by Financial Economy

Dubai Gold and Commodity Exchange (DGCX) is a finance and commodity derivatives exchange located in the Dubai Emirate of the United Arab Emirates. DGCX began trading in November 2005 as the first derivatives exchange in the Middle East and North Africa (MENA) region. DGCX is owned by the Dubai Multiple Commodities Center (DMCC). The answer to the question of what is Dubai Gold and Commodity Exchange DGCX is included in the rest of the article in detail.

What is Dubai Gold and Commodity Exchange DGCX?

The President of the Dubai Gold and Commodity Exchange is Ahmed Bin Sulayem, and its CEO is Les Male. DGCX has 267 members. More than 80% of DGCX’s current membership base of 267 is from the Middle East and Indian subcontinent. The rest are from the United States and Europe. DGCX members are among the world’s major financial centers such as London, Chicago, Auckland, Mumbai and Karachi. In August 2020, Dubai Gold Exchange and Nasdaq signed a technology partnership agreement. In the agreement, it was stated that Nasdaq will provide “high speed multi-asset class clearing, payment and risk management capabilities” to DGCX with its real-time clearing solution. You can browse here for Dubai Financial Market DFM Companies and Shares.

Dubai Gold and Mineral Exchange (DGCX), a member of the International Organization of Securities Commissions (IOSCO), is regulated by the United Arab Emirates Securities and Commodities Authority (UAE). The exchange has a clearing house called the Dubai Commodity Clearing Company. DGCX trades in a wide variety of derivative contracts. DGCX Gold Futures was launched in 2006. Dubai Gold Exchange launched the world’s first “Rupee Futures” contract, which shows rapid volume growth due to demand from India. The only Indian Rupee Option product traded on the stock exchange offered outside of India is in DGCX. Also in Dubai Gold Exchange;

  • The world’s first steel rebar futures contract in 2007
  • The first Copper Futures contract in the MENA region in 2012
  • The region’s first WTI and Brent Oil futures contract

was also arranged. DGCX’s portfolio of futures contracts also includes Australian Dollar / US Dollar, Canadian Dollar / US Dollar, Swiss Franc / US Dollar, Euro, British Pound, Japanese Yen and Indian Rupee futures.

Official Page for Dubai Gold Exchange Live Tracking: https://www.dgcx.ae/

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