Dubai – Mubasher: The Dubai Gold and Commodities Exchange (DGCX) reached its highest ever daily volume on September 27, as 202,571 contracts were traded with a notional value of $4 billion.
Amidst volatility spikes, monthly volumes also climb to their highest ever in September, as 1.87 million lots were transacted, and 93,604 contracts of all-time high Average Daily Volume (ADV) were traded, according to a recent report by the DGCX.
Volumes in the G6 currency portfolio rose 44% month-on-month in September from August, particularly the Euro and British Pound futures contracts, which achieved 67% and 19% month-on-month growth, respectively.
“The Euro has traded its highest volume with 172,291 contracts during 2017, while the British Pound recorded its highest average Open Interest (OI) of 832 contracts,” the DGCX added.
Likewise, the Indian Single Stock Futures (SSFs) saw a growth of 14% month-on-month.
“The Exchange’s flagship Gold contract; Dubai Gold, reached its highest average OI since 2012,” according to the report.
Meanwhile, the Dubai India Gold Quanto rose to its highest OI of 2,806 contracts on 11 September 2017.
“Not only did we [the DGCX] achieve our highest-ever monthly average daily volume, […] but we collectively continued to push the envelope,” CEO of the DGCX Gaurang Desai said.
“This includes our [the DGCX] recent tie-up with the Market Data Connect service making the DGCX contracts ever more accessible to traders in London and being recognized for pioneering contracts that provide significant value to investors and traders,” Desai continued.
“As the largest derivatives Exchange in the region, our endeavor is to improve our capabilities and provide innovative offerings which will support DGCX market participants to make well-informed decisions amid any market situation,” he noted.
Moreover, DGCX won accolades for its Dubai India Crude Oil Futures (DICO) contract, which was voted as the ‘Best New Derivatives Contract’, for the second year in a row at the FOW and Global Investor Asia Capital Markets Awards, which was recently held in Singapore.
“We are working towards launching the region’s first Sharia Spot Gold product, which will help us to meet the latent demand amongst regional traders, as well as take a major step forward in establishing Dubai and the UAE as a world-leading Islamic Finance hub,” DGCX’s CEO concluded.
