Dubai – Mubasher: The Dubai Gold and Commodities Exchange (DGCX) has registered 17.255 million contracts by the end of September.
It also recorded its highest yearly Average Daily Volumes (ADV) of 89,873 contracts per day during the month, the DGCX said in a statement on Sunday.
“The best performing asset class in September was the Indian Rupee (INR) product suite, which saw Rupee Mini Futures record their second highest monthly Average Open Interest (AOI) of 110,020 contracts, and the Indian Rupee Quanto, which has traded 3,160,471 contracts year-to-date (Y-T-D), up 51% from 2017,” the Dubai-based gold and commodities bourse revealed.
Commenting on September’s results and data, DGCX CEO Les Male, highlighted that INR’s growing popularity came on the back of the “continued depreciation of the rupee, which has seen investors turn to more regulated markets to hedge their exposure to the US dollar.”
The DGCX’s strong Rupee Mini Futures performance amid rising liquidity and increased market depth was a “testament to the smaller-sized contract’s ability to enable retail remitters, individual investors and SMEs to cost-effectively manage their currency risk,” the top official added.
It is worth noting that the DGCX, along with the UAE’s Securities and Commodities Authority (SCA), will be taking part in World Investor Week 2018 (WIW) from 1 until 7 October 2018. Promoted by the International Organization of Securities Commissions (IOSCO), the event is a global campaign to raise awareness about the importance of investor education and protection and highlight the various initiatives of securities regulators in these two critical areas.
