Dubai - Mubasher: The Dubai Gold and Commodities Exchange (DGCX) witnessed a 49% rise in total volume traded in 2016 to over 11 million contracts, according to a press release.
The overall trading volumes in July 2016 reached about 1.67 million contracts, registering a 47% year-on-year increase, the bourse said on Wednesday.
This surge is mainly driven by elevated trade volumes across precious metals, currencies, equities and hydrocarbon segments. The Exchange also recorded the highest monthly overall Average Open Interest (OI) of 257,249 contracts in July 2016.
The newly launched Dubai India Crude Oil (DICO) contract traded 1,823 contracts since its listing on 1 July.
"We are pleased to set a number of records this month specially on the Open interest front, which reflect the sustainable confidence on the DGCX platform. Open Interest is an indication of the resident interest and liquidity, and also demonstrates the robustness of our trading platform,” said CEO of the DGCX Gaurang Desai.
“We offer a diversified range of products which enable markets participants to effectively manage their risk and exposure across different asset classes, especially with the global uncertainty more prevalent over Brexit," added Desai.
