Page 31 - Bullion World Volume 4 Issue 1 January 2024

Bullion World | Volume 4 | Issue 1 | January 2024

A reflection

of 2023 Reflecting on DGCX’s 2023 Key Highlights

As a subsidiary of the Dubai Multi Commodities Centre
Key (DMCC), DGCX has been at the forefront of enhancing
commodity trade flows. Since its inception in 2005,
the Exchange has been committed to serving as a
Highlights bridge between East and West, capitalising on its
strategic location to offer optimal trading opportunities.
DGCX’s expansive product portfolio includes
currency derivatives, such as the Indian Rupee suite
compromising of INR Options and Futures, INR-USD
Futures and INR Quanto Futures, in addition to G6
currency futures, which include Yen, Australian, and
Canadian Dollars, Euro and British Pound. On the metals
front, DGCX is home to gold futures, physical gold
futures, spot gold, and silver futures, along with Shari’ah-
compliant products, which include gold and the newly
2023 was a year of heightened volatility for global launched silver contracts.
commodities markets, driven by a complex interplay
of geopolitical tensions, inflationary pressures and Leveraging the Exchange’s position as a regional
supply chain disruptions. This year has underscored leader in the commodities market, DGCX hosted
the critical role of commodities in the global various delegations to explore new opportunities for
economy and the importance of robust, transparent collaboration, in line with the UAE’s strategy to enhance
markets in navigating uncertain times. DGCX, bilateral relations with key markets, one of which is India.
as the most diverse derivatives exchange in the A great example of the Exchange’s global outreach is
Middle East, has been at the heart of global trade, the hosting of a delegation from the Government of
facilitating trade flows through Dubai by providing Gujarat, India, to discuss strategic plans to develop GIFT
critical physical, market, and financial infrastructure. International Financial Service Centre, a financial hub
that provides world-class infrastructure and services
for financial institutions and companies operating in
areas such as banking, insurance, capital markets, and
asset management. The meeting also explored potential
partnership opportunities, setting the stage for a more
integrated and robust commodities trading network
between the two regions in light of the UAE and India’s
first bilateral trade agreement, the Comprehensive
Economic Partnership Agreement (CEPA), that entered
into force in 2022.

Additionally, marking a significant step in its global
outreach, DGCX applied to join the Association of
Futures Markets (AFM) following its participation in
the 25th Annual Conference. This move is part of the
Exchange’s broader strategy to support the UAE’s
strategy of cementing its position as a leading global
financial centre. By joining AFM, DGCX aims to enhance
the UAE’s role in the global financial landscape by
contributing to developing international commodities
trading standards and practices.

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