Business | Banking
DGCX sets new daily volume record
Total trading volumes on Dubai Gold and Commodities Exchange (DGCX), the region’s leading commodities derivatives exchange, touched a record new high of 14,066 contracts on Friday July 11 registering the exchange’s highest overall daily value of above US$978 million.
- Staff Report
- Published: 14:01 July 14, 2008
Dubai: Total trading volumes on Dubai Gold and Commodities Exchange (DGCX), the region's leading commodities derivatives exchange, touched a record new high of 14,066 contracts on Friday July 11 registering the exchange's highest overall daily value of above US$978 million.
The recently launched and successful crude oil contract, the West Texas Intermediate (WTI), set new records with 3,871 contracts traded equivalent to over US$562 million, the highest daily WTI value.
Gold volumes reached 8,274 contracts recording the highest daily Gold value of over US $253 million.
Considering the price escalation in major commodities, the trading volumes on DGCX are set to increase even further in the coming months.
DGCX offers huge advantages to traders in the commodities markets in the region, with its wide range of futures contracts.
It also offers many options to the region's burgeoning investment community, which is increasingly considering alternatives to stocks and real estate.
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