Trading volumes in the Dubai Gold and Commodities Exchange (DGCX) grew 18per cent in July from previous month, trading 992,061 contracts, valued at US$ 29.95 billion.
DGCX Gold Futures traded 39,536 contracts in July, growing 15per cent year-on-year and 10per cent month-on-month. The metals segment grew 24per cent year-on-year with Silver futures witnessing year on year growth of over 300per cent.
In the currency segment, Indian Rupee Futures grew 22per cent from last month, while Mini Indian Rupee Futures rose 3per cent. The Indian Rupee Options contract which was re-introduced on July 18 traded 343 contracts. Among the other currency pairs, British Pound, Australian Dollars and Yen Futures, grew 45per cent, 47per cent and 7per cent respectively.
DGCX’s BSE Sensex Futures, one of the key performers for the month,recorded the second highest ever monthly volume of 21,466 contracts, surging 441per cent year-on-year. The Indian equities futures also recorded the second highest ever monthly trade of 12,911trades in July.
DGCX continues to work towards introducing a number of new products, targeted at Middle East customers. DGCX Spot Gold remains a priority – which will be the Middle East’s first exchange-traded physically deliverable spot gold contract. In addition – and as part of the expansion of DGCX Emerging Market (EM) currency portfolio – the Exchange is considering listing three new currency futures in the near future. DGCX also plans to add the MSCI India Index futures to its equity suite in Q4.
In July, DGCX recorded the highest ever average Daily Open Interest of 54,718 contracts. Both Indian Rupee Futures and BSE Sensex Futures also recorded the highest ever average Daily Open Interest of 43,929 and 692 contracts respectively.
Source : WAM News Agency for United Arab Emirates
