The Dubai Gold and Commodities Exchange’s Dubai India Crude Oil Futures, DICO, contract has been recognised as the ‘Best New Derivatives Contract’ at this year’s FOW Global Investor Asia Capital Markets Awards, 2017.

The awards ceremony took place last week in Singapore and gathered the trading and derivatives industry leading experts to receive awards highlighting innovation, excellence and outstanding performance over the past year.

Commenting on the win, Gaurang Desai, Chief Executive Officer of the DGCX, said, "I am pleased to receive this award for the second consecutive year from FOW Global Investor on behalf of DGCX, this is a win for entire DGCX community of members, traders and my colleagues at DGCX. DICO allows participants to trade in a Crude Oil Futures benchmark referencing the Indian Rupee, whilst trading in US Dollars, meaning that that the benefits of the contract extend way beyond just local markets, providing access to key Indian markets."

"At DGCX, we are committed to expanding our global reach by introducing innovative products that are relevant for our members, and being recognised for our efforts to do so is a motivation for us to continue focusing on our long-term goals," Desai added.