Page 32 - Bullion World Volume 4 Issue 1 January 2024

Bullion World | Volume 4 | Issue 1 | January 2024

DGCX 2023 Trading Activity invest in physical silver through an exchange in the GCC
Overall trading volumes have remained robust given with the benefit of a central counterparty clearing house,
the volatile global macroeconomic and geopolitical mitigating credit risk. Additionally, by trading through
backdrop. DGCX has worked closely with its members DGCX, investors can take large positions in silver with
to introduce new market features and reduce barriers no limit restrictions. DGCX is in active discussions with
to trade – such as waiving fees for some of our most its members and regional investors about potential new
actively traded contracts. products to launch, particularly related to the precious
metals market, to build on the recent success of its Gold
During the first 11 months of 2023, DGCX recorded Repo and Shari’ah Compliant portfolio.
5.16 million contracts being traded on the Exchange,
valued at USD 109,790 million. One of the major drivers
behind the trading activity is our INR suite of products, DGCX's Resilient Journey and Future
which saw 4.9 million contracts traded at a value of USD Prospects in 2023
95,857 million. Subsequently, our diverse metals portfolio As 2023 concludes, DGCX emerges as a
of Gold and Silver contracts, with our Gold Futures resilient and innovative force in the global
registering 78,845 contracts at a value of USD 4,923 commodities sector, successfully navigating
million, followed by our Shari’ah Compliant Gold with 344 through geopolitical and economic challenges.
contracts at a value of USD 21.41 million, while Silver Its strategic initiatives, including the introduction
Futures Contracts stood at 769 at a value of USD 18.33 of pioneering products like the Shari’ah
million and our newly launched Shari’ah Compliant Silver Compliant Silver contract, have helped solidify
with 2 contracts at a value of USD 41,700. Dubai's position as a key market for commodities
trade. Despite fluctuations in trading activity,
New Product Initiatives DGCX's adaptive strategies and commitment to
Following the success of our Shari’ah Compliant Gold reducing trade barriers underscore its dedication
Spot Contract launched in 2018, DGCX launched to market leadership. Looking ahead, DGCX
the GCC’s first Shari’ah Complaint Silver contract in is well-positioned to continue its trajectory of
2023. This decision comes as part of the Exchange’s growth and innovation in the global commodities
strategy of diversifying its product portfolio and working market, utilising its strategic location as a
continuously to meet the evolving needs of investors. connection with the East and West, along with its
With the launch of the Shari’ah Complaint Silver diverse portfolio of products.
contracts, investors will, for the first time, be able to

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