DGCX ends summer on a high note
(MENAFN- Emirates News Agency (WAM))
DUBAI, 1st September, 2016 (WAM) -- Volume on the Dubai Gold and Commodities Exchange, DGCX, has touched close to 13 million contracts, growing 43% over the same period last year to record the highest ever volume for this period in over a decade. This year, DGCX recorded an average 75,516 contracts a day, valued at around US$1.70 billion.
The exchange also registered an impressive average Open Interest, OI, position of 156,965 contracts, representing a growth of 167% over the same period last year. On 29th August 2016, DGCX recorded the highest ever OI of 503, 262 contracts valued at over US$8 billion. The OI records indicate the increased trust and participation of market participants on DGCX, the region's largest and most diversified derivatives bourse.
DGCX's Indian Rupee traded an average of 41,751 contracts in August, valued at over US$1.24 billion. The Indian Rupee options contract set the highest ever average OI record with 5,353 contracts, up 38% from last year, and also registered a 115% year-to-date volume growth from 2015.
Average Daily Volumes in DGCX's gold product suite touched 2,749 contracts in August, growing 15% from last year, while average OI in August 2016 was up by 153%.
Commenting on DGCX's performance, Gaurang Desai, CEO of DGCX, said, "We are pleased to end the summer on a high note. The last few months saw DGCX set number of volume and open interest records. Yet, as we move forward to the rest of the year, our focus remains on development of two key parameters which are introducing more products that are unique, innovative and regionally relevant and expanding our membership base to deepen the market outreach."
WAM/Esraa/Moran