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- Dubai Gold and Commodities Exchange is named the “Emerging Exchange of the Year” for 2013 and its new trading platform wins “Best Technology Innovation” award
- DGCX named runner-up for Asian Exchange of the Year Award
The Dubai Gold and Commodities Exchange (DGCX) has been named as ‘Emerging Exchange of the Year’ in Asia for 2013 by Futures & Options World (FOW), a leading global derivatives magazine. DGCX’s ‘EOS Trader’ platform was also named the year’s ‘Best Technology Innovation by an Exchange’.
DGCX beat stiff competition from Thailand Futures Exchange and India’s United Stock Exchange for the ‘Emerging Exchange of the Year’ award; while it was chosen over some of Asia’s largest exchanges like ASX/SGX, HKex and Bursa Malaysia for the ‘Best Technology Innovation’ award.
FOW’s ‘Emerging Exchange of the Year’ award is given to an exchange in an Asian emerging market that demonstrates “tangible innovation and growth”. DGCX got the jury’s nod for its exceptional volumes growth and product innovation this year. The ‘Best Technology Innovation’ recognised the innovation the Exchange demonstrated in implementing an advanced EOS trading platform in response to the needs of its member community. The Exchange was also named the runner-up in the category of Asian Exchange of the Year.
Gary Anderson, CEO of DGCX said: “We are honoured to receive these prestigious awards for 2013, which was a significant year in the growth and evolution of the exchange. We particularly value this recognition because it represents endorsements from our industry peers. DGCX continues to create innovative products and services that meet the risk management and investment requirements of a wide range of players in the marketplace. Over the first half of this year, we made a strong push to diversify our product portfolio and asset classes with unique new products like Copper, SENSEX and Mini-Indian Rupee Futures. At the same time, we introduced a new advanced technology infrastructure to enhance trading speed, capacity and functionality for our members. ”
Bucking the decline in growth of exchange-traded derivatives in 2012, DGCX registered 138% growth in the last year, following it up with year-on-year growth of 101% in H1 2013. Year-to-date volumes reached 10.37 million contracts at the end of August, a rise of 80% from the previous year.
“We’re very happy that DGCX has received these well-earned honors and we give them our warmest congratulations,” says Veronica Augustsson, CEO of Cinnober. “DGCX has made a very focused and ambitious investment in its technology to provide their clients with a world-class exchange and CCP. We are proud to be a part of their continued success story and look forward to a long and continued positive partnership.”
FOW presented the awards at a gala awards ceremony in Singapore on 26 September.
