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Overview of Commodity Derivatives Exchange in the City of Gold: Dubai

The city has historically been an international hub for the physical trade, not only for gold, but also many other commodities. Hence, a visit to the Dubai Gold & Commodities Exchange (DGCX) was a must for the students of PG Global Finance & Bachelor of Business Economics - to understand its role and process in the UAE with regional and international contexts. The visit happened on 23rd March 2017.

Established in 2005, DGCX was the region’s first commodity derivatives exchange and has today become the leading derivatives exchange in the Middle East. Students learnt that DGCX is a subsidiary of Dubai Multi Commodities Centre (DMCC), a strategic initiative of the Government of Dubai, with a mandate to enhance commodity trade flows through the Emirate. It does so by providing the appropriate physical and financial infrastructure, market, and services required. The Management team of DGCX comprises senior personnel from the commodities, securities and financial services industries, bringing a wealth of experience and expertise to ensure the success of DGCX.

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A session with DGCX officials, Mr. Simarjeet Baweja, Head of Academy and Currency Products, and Mr. Jude Rao, Sr. Manager, Business Support Services, gave the students a chance to learn how the commodities and currencies market is developing in UAE. They also got great insights into how the exchange works, covering aspects like infrastructural facilities, technological requirements and legal specifications of contracts.

“The representatives gave us a detailed explanation on options, futures and derivative contract which for a financial professional like me is a great learning and necessary to understand the commodities in the country. The exchange is one of most technologically advanced in the world and still seeks to progress every day. Their trading volumes have been increasing every year despite the economic fluctuation in UAE. This was an eye opener for me and the session increased my understanding of the market here in UAE. I thank our college for such endeavors which lead to great learnings for us as students and makes us business ready for the world of tomorrow.”
-Salman Rumani, Student, GMBA Global Finance (May 2016)

Topics: GMBA, Finance, BEC