DGCX year-to-date volumes up by 153 %

The Dubai Gold and Commodities Exchange traded 938,837 contracts in August, valued at $34.81 billion, registering an increase of 71 per cent compared to the same month last year. DGCX year-to-date (YTD) volumes increased by 153 per cent from last year, aggregating to 5,752,486 contracts. This growth was primarily driven by currency futures, trading 5,279,123 contracts - a 179 per cent increase on last year. DGCX Indian Rupee futures, one of the most actively traded contracts on the exchange, recorded a year-on-year growth of 123 per cent trading 873,740 contracts. Gold futures, the Exchange’s flagship product, grew 68 per cent year on year trading 49,219 contracts in August - largely driven by strong retail participation on the back of continued high volatility and following the recent enhancements made to the DGCX Gold Futures contract. Average daily volume (ADV) reached 42,674 contracts in August, an increase of 79 per cent against the same month last year. Year-to-date average daily volume saw a significant increase of 150 per cent from the same period last year. Gary Anderson, CEO, DGCX, said: “Continued robust trading throughout the Holy Month of Ramadan, a typically slow period of business, reflects the growing demand of DGCX products and services in this region. From gulftoday