The Dubai Gold and Commodities Exchange, DGCX, has been named Exchange of the Year 2014 in the Middle East and Australia by Futures and Options World, FOW, a leading global derivatives magazine.
The award is given to an exchange that demonstrates tangible innovation and growth. DGCX received the jury’s nod for its exceptional volumes growth and product innovation this year, and was handed over at an awards ceremony held in London on 9th December.
Gaurang Desai, Interim CEO of DGCX, said, “We are honoured to earn this prestigious recognition from FOW for the second year in a row. We particularly value these awards because they represent endorsements from our industry peers. DGCX continues to create innovative products and services that meet the risk management and investment requirements of a wide range of players in the marketplace. In October, we listed four new India-focused contracts designed to cater to the trading requirements of retail and institutional customers. Earlier in the year, we also further enhanced our new trading platform, EOS, to facilitate multi-currency trading, listing of options, physical delivery and improvements in margining efficiency.” The exchange strengthened its product offering with the launch of two new Index products and two mini-Indian Rupee contracts in October. The Index products included two MSCI India index contracts, the first being a price return index that takes into account the price performance of the 67 constituent stocks in local currency (Indian Rupee) and the second a total return index taking into account both the price performance and the dividend payments, calculated in US Dollar terms. DGCX also launched two new mini currency-pair futures contracts: Indian Rupee/British Pound and Indian Rupee/Euro.
DGCX also plans to launch a wide range of Emerging Market currency products targeted at Middle East customers in 2015. In the pipeline are three new currency futures including South African Rand, Russian Rouble and the Korean Won.
Currently, DGCX’s product portfolio covers a diverse range of asset classes which include indices, hydrocarbons, precious metals, base metals and currencies. These include the world’s first Indian Rupee as well as the first Copper, Sensex futures and MSCI India Futures contracts in the Middle East.
Source : WAM News Agency for United Arab Emirates
