UAE’s DGCX records $149.7bn worth contracts during 2021

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Representational Image The Dubai Gold and Commodities Exchange (DGCX) has released its full-year market statistics. During 2021, the exchange recorded a yearly Average Open Interest (AOI) of 1,985,584 contracts and traded 7,076,350 contracts during the year, with the total value of the contracts amounting to $149.7 billion. The DGCX’s best performing product in 2021 was its Indian Rupee Options (DINRO) Futures Contract, which traded up 1,233 percent year-on-year. As part of its cross-border partnership efforts, the DGCX also signed landmark agreements with the S&Royal Group Mongolia to explore future business and trade opportunities, as well as with the Financial Markets Regulatory in Sudan, to strengthen the gold market across Africa. In addition, the DGCX and the Victoria Falls Stock Exchange (VFEX) signed a strategic Memorandum of Understanding (MoU) aimed at helping with the development of a clearing and settlement commodities exchange in Zimbabwe. December was particularly an energetic month for trading, with over 727,784 million contracts traded, topped by the DGCX’s Indian Rupee Future Contract. Additionally, the DCCC, a wholly owned subsidiary of DGCX providing clearing and settlement services, was also awarded the ‘Clearing House of the Year – Middle East and Africa’ by the FOW Global Investor MENA 2021 Awards,…