Dubai’s DGCX sees16% rise in volume of trades in 2022, total value touches $162bn

Dubai’s DGCX sees16% rise in volume of trades in 2022, total value touches $162bn

The region’s largest derivatives exchange Dubai Gold & Commodities Exchange (DGCX) has registered a total of 8.239 million contracts with a total value of $162.01bn in 2022, representing growth of 16 per cent and 8.24 per cent, respectively. With inflation rising steadily over the course of 2022, investors increasingly turned to gold, with DGCX reporting a 78 per cent increase in the volume of gold contracts traded on the exchange compared to the previous year. Throughout the year, DGCX saw steady trading in Indian rupee as market participants looked to hedge their exposure to one of the world’s fastest-growing economies. DGCX also saw volume growth for the Yen, Australian, and Canadian dollars and increased investor interest in the Euro and British currency. Ahmed Bin Sulayem, CEO of DGCX, said: “During 2022, DGCX delivered significant double-digit growth across multiple metrics in the face of continued economic challenges around the world. Within this context, with participants focusing on currencies and gold, DGCX launched physical gold and spot gold contracts. DGCX also made history by being the first UAE exchange to list Israeli Shekel Futures, delivering even greater product diversity and liquidity for traders. “As we look to 2023, DGCX will continue to