Business

Total volumes on the Dubai Gold and Commodities Exchange (DGCX) this year remained at over 21.85 million agreements toward the finish of November, esteemed at more than USD 400 billion. This month (November), the DGCX exchanged 1.54 million agreements, and enlisted Average Open Interest (AOI) of 299,575 with the Exchange indicating 15% development in AOI in 2019.

The best performing resource class in November was the Indian Rupee (INR) item suite, which enrolled year-to-date (Y-T-D) volume development of 17% from 2018 and an AOI increment of 10%. Exchanging this month was additionally supported by DGCX's lead Gold Futures item, which recorded Y-T-D total volume development of 94% contrasted with a similar period a year ago, and year-on-year (Y-O-Y) Average Daily Volume (ADV) development of 452%.

Les Male, CEO of DGCX, remarked: "The DGCX stays on track to break the yearly volumes record we set in 2018 of 22.3 million agreements exchanged, and close the year on a high note. This bears witness to our capacity to meet the always developing needs of our market members, and persistently convey greatness, innovation, and broadened monetary instruments. This one of a kind offer has not gone unnoticed, as we gathered two prestigious awards in this month, to which I might want to complement each and every associate, partner and member that has been a piece of the DGCX's mind blowing venture up until this point."

DGCX picked up to two awards of this month. It won the 'Global Exchange of the Year' grant at the Burj CEO grants, and was perceived as 'Trade of the Year' at the FOW Global Investor MENA Awards 2019 for its astounding development throughout the year, in which the Exchange broke various records for exchanging volume, notional esteem and open premium.

"As we direct our concentration toward 2020, we will keep on expanding on what we have accomplished for the current year, further growing our range to various markets and expanding the broadness of our item portfolio to meet the supporting and speculation needs of our members over the globe," included Male.

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