UAE – Mubasher: The Dubai Gold and Commodities Exchange (DGCX) revealed it has recorded its highest quarterly volumes with over 7.98 million contracts traded in the third quarter of 2019 valued at $133 billion.
In September alone, the exchange has recorded 2.37 million contracts traded valued at $41 billion, according to a press release.
The DGCX has registered a monthly average open interest (AOI) of 410,847 contracts in September, its highest AOI since September 2016.
Moreover, the average daily volumes (ADV) increased by 20% year-on-year in September to 112,988 contracts per day, the exchange said.
The index pricing of the Indian Rupee US dollar currency pair has ended Q3-19 with over 3.78 million contracts traded, with the Indian Rupee Quanto Futures acting as the standout performer.
Les Male, CEO of DGCX, commented: “DGCX’s recent record volume growth and open interest records reflect the strength and depth of our offerings, and increased investor confidence in the Exchange. Last month’s achievements were driven by ongoing geo-political instability, including continued uncertainty surrounding Brexit and the US and China trade war.”
“Moving into the last quarter of the year, we will continue to focus on growing our membership base and expanding our footprint, and we are optimistic that we will keep our momentum going, enabling an increasing number of investors to hedge their risks during periods of volatility,” Les Male added.
Additionally, the INR Mini Futures have recorded its highest ever monthly AOI of 122,003 contracts, the DGCX highlighted.
The DGCX’s Energy portfolio has seen a significant last month, with Brent Crude Oil Futures and West Texas Intermediary (WTI) Futures soaring 154% and 121%, respectively.
Furthermore, the exchange’s flagship Gold Futures product has registered an average daily volume growth (ADV) of 12% month-on-month in September.
