Dubai – Mubasher: Volumes on the Dubai Gold and Commodities Exchange (DGCX) grew 40% year-on-year to 14.76 million contracts, according to a statement on Tuesday.
The Exchange recorded an average volume of 75,148 contracts a day at around $1.71 billion, capping the third quarter with over 5 million contracts, higher 26% from Q3-15.
Despite the festival season in September, trading activity significantly gained momentum post-Eid holidays, with DGCX trading an average of 88,131 contracts a day, growing 33% from the same period last year.
The Exchange also registered the highest average monthly open interest (438,111 contracts), representing a growth of 172% over the same period last year.
In September, the Exchange also registered its highest ever open interest (OI) of 593,583 contracts worth over $9.1 billion.
The standout performer of the month was the Indian Rupee options contract which witnessed a robust trading activity, registering around 215,088 contracts this year, up 151% from last year.
The options contract also recorded a substantial year-on-year growth of 707%, trading an average 1,956 contracts per day.
Indian Rupee options traded a total of 82,999 contracts this quarter, recording an increase of 132% from Q32015.
In addition, the contract also recorded the highest monthly Average OI of 13,840 contracts and also went to record its highest OI of 21,300 contracts on 28thSeptember 2016.
Gaurang Desai, CEO of DGCX, said: “these numbers are very encouraging. It is particularly worth highlighting the performance of our Indian Rupee Options contract which has seen a surge in trading activity recently. This is reflective of market participants increasingly viewing 'Options' as an effective tool to hedge against volatile markets."
