DGCX Sees Growth in Gold and Currencies Amidst Increased Geopolitical Risks and Economic Uncertainty

Press release
Published July 2nd, 2017 - 09:33 GMT
Gaurang Desai, CEO of DGCX
Gaurang Desai, CEO of DGCX

Dubai Gold and Commodities Exchange (DGCX), the region’s largest and most diversified derivatives bourse, witnessed a surge in Gold and currencies trading in June, which can, in part be attributed to the recent listing of additional ‘Calendar spreads’ on the Exchange’s Gold Futures and G6 Currency contracts.

‘Calendar spreads’ also known as ‘Futures or Intermonth Calendar Spreads’ are a set of futures trading strategies  that utilizes future contracts of different expiration months on the same underlying asset. Calendar Spreads are designed for traders to benefit from the difference in movement between near term futures contracts and longer term futures contracts.   

In the first half of the year, DGCX’s Precious Metals segment demonstrated consistently strong performance amidst the rising uncertainty surrounding economic policies and geopolitical risks across the globe. Both Shanghai Gold futures and Spot Gold set record volumes in June, trading their highest monthly volumes and also recorded their highest Average Open Interest (AOI) too. The Loco-Dubai Spot Gold contract achieved its highest monthly volume of 4,702 contracts with a traded value of USD 189.62 million, while it was also a record month for deliveries with over 335kg being exchanged. The contract also saw a significant jump of 1766% over the same period last year, trading a total of 10,172 contracts to-date in 2017. The Yuan-denominated Shanghai Gold Futures traded its highest monthly volume of 3,433 contracts with a value of USD 967.43 million.

G6 currencies continued their upward trajectory in June 2017 vis-à-vis the same period last year with volumes up in Japanese Yen (313%), Euro (56%), Canadian Dollar (815%) and Swiss Franc (692%); aided by the aforementioned Calendar Spreads.

Gaurang Desai, CEO of DGCX, commented on the Exchange’s H1 performance: “DGCX’s robust performance in the first half of the year was influenced by two key factors; Changes being rolled out by President Trump’s policy initiatives, Elections in the UK with the start of Brexit negotiations and other global geopolitical developments, which led investors to use the DGCX to effectively manage their risk. However, the second catalyst for DGCX’s volume growth is a combination of key initiatives rolled out during the first half of the year, including the successful launch of a Chinese gold derivative product, the Exchange’s enhanced risk management framework, the growing number of strategic partnerships (involving local banks and other international exchanges), and the recent listing of additional calendar spreads on DGCX’s key products.

These initiatives have proved valuable adding more depth and confidence to the marketplace. As we move into the second half of the year, we will continue to focus our efforts on tapping similar opportunities that are essential for the further growth of DGCX as well as developing innovative products that are pertinent to our market participants.”

Background Information

Dubai Gold & Commodities Exchange

Dubai has historically been an international hub for the physical trade of not only gold, but also many other commodities and so the establishment of the Dubai Gold & Commodities Exchange (DGCX) was the next logical step for the region and the local economy. DGCX commenced trading in November 2005 as the regions first commodity derivatives exchange and has become today, the leading derivatives exchange in the Middle East.

 

توقيف 41 شخصا في مظاهرات الجزائر

Published February 23rd, 2019 - 09:07 GMT
توقيف 41 شخصا في مظاهرات الجزائر
توقيف 41 شخصا في مظاهرات الجزائر

أعلنت المديرية العامة للأمن الوطني (الشرطة) الجزائرية، مساء الجمعة، توقيف 41 شخصا في مظاهرات شهدتها عدة مدن ضد ترشح الرئيس عبد العزيز بوتفليقة لولاية خامسة في انتخابات 18 أبريل/ نيسان القادم.

وأكدت إدارة الشرطة في بيان اطلعت عليه وكالة الاناضول أن عمليات التوقيف كانت بسبب “الإخلال بالنظام العام والاعتداء على القوة العامة وتحطيم الممتلكات” دون تقديم تفاصيل أكثر حول أماكن توقيف هؤلاء المتظاهرين.

والجمعة، استجاب آلاف المواطنين بعدة محافظات جزائرية، إلى دعوات للتظاهر تم تداولها عبر شبكات التواصل، ضد ترشح بوتفليقة (81 عاما) لولاية خامسة في انتخابات الرئاسة المقررة في 18 أبريل/ نيسان القادم.

واتسمت هذه المظاهرات بالسلمية في أغلب مناطق البلاد باستثناء حدوث مواجهات بين قوات مكافحة الشغب ومتظاهرين بوسط العاصمة خلال محاولتهم السير نحو القصر الرئاسي .

ووفق شهود عيان لجأت قوات الأمن إلى الغاز المسيل للدموع وتوقيف عدة أشخاص بعد تحذيرات للمتظاهرين وتعرضها للرشق بمقذوفات وحجارة قبل أن يتراجع المحتجون ويغادروا المكان.

وصبيحة اليوم نشر ناشطون معلومات عبر شبكات التواصل الاجتماعي حول توقيف عدد من زملائهم قبل بداية المظاهرات بالعاصمة.

وعلقت الرابطة الجزائرية للدفاع عن حقوق الإنسان (مستقلة) على بيان الشرطة بالمطالبة ب”الإفراج الفوري عن الموقوفين وان يتم احترام حق التظاهر سلميا” كما نشرت على صفحتها بموقع “فيسبوك”.

الأناضول


© 2000 - 2019 Al Bawaba (www.albawaba.com)

You may also like

PR Contact

Contact Name
Reem Boudraa
Contact email

Previous PR’s

PR Rates

Buy credits to publish your articles on Al Bawaba Biz here

You May Also Like

Subscribe

Sign up to our newsletter for exclusive updates and enhanced content