Dubai – Mubasher: The Dubai Gold and Commodities Exchange (DGCX) posted a 20.4% year-on-year growth in March.
The exchange’s contracts rose to as much as 1.84 million with a notional value of $36.6 billion in March, DGCX said in a statement on Monday.
Average Daily Volumes (ADV) of the region’s leading derivatives exchange hit 87,995 contracts over the course of the previous month.
Moreover, the exchange has launched two new contracts, Aluminium Futures and Zinc Futures on 22 March, and the products have been very well received by investors and traded a combined total of 598 lots on their opening day.
“These contracts are particularly appealing to global clearers, metal producers and finance houses so we are confident that they will see significant growth in trading activity over the next few months,” Les Male, CEO of DGCX, said.
Male added that all traded in the new contracts are cleared by the DGCX's wholly-owned and regulated clearing house, the Dubai Commodities Clearing Corporation (DCCC), which is recognised by the European Securities and Markets Authority as a third-country central counterparty.
“We will continue to focus on being a member-led exchange, introducing innovative products and solutions that meet the growing needs of our investors,” Male concluded.
