Dubai – Mubasher: The Dubai Gold and Commodities Exchange (DGCX) on Thursday announced that its traded contracts rose by 35% year-on-year to 18.8 million in the first ten months of 2018.
Dubai's derivatives exchange said that it is on track to break its annual volumes record of 19.67 million contracts, noting that year-to-date (YTD) Average Daily Volumes (ADV) hit an all-time high, reaching 87,253 lots, according to an official statement.
DGCX added that the G6 currencies were the best performers in October, topped by the Euro which registered a 51% YTD volume growth. Moreover, gold products posted a strong performance after Gold Quanto and Shanghai Gold recording YTD volume growth of 48% and 59%, respectively.
“DGCX has already set numerous records throughout the year, but we are particularly delighted to be on course to break our annual volumes record. This feat is a testament to the efforts of all our stakeholders, and demonstrates the importance of regulated exchanges to the global financial ecosystem,” as investors seek to safely hedge their risk as markets react to geopolitical uncertainty, Les Male, CEO of DGCX, said.
In the same vein, the performance of Indian Single Stock Futures (SSF) has further propped up DGCX’s record-breaking year, with the product recording 64% year-on-year growth, trading over 2.2 million contracts with a notional value of over $13 billion so far.
“We approach the end of 2018 upbeat and full of confidence, and we will continue to strive for even greater success as our attentions turn to the year ahead,” Male added.
