Dubai: Dubai Gold & Commodities Exchange (DGCX) gold segment registered a substantial growth of 71 per cent from second quarter 2015 and 20 per cent from previous 3rd quarter 2014, trading 132,862 contracts in Q3 2015.
The Exchange’s Indian Rupee portfolio grew 37 per cent from last quarter, reaching 3,887,956 contracts in third quarter, the exchange said in a statement.
DGCX’s hydrocarbon segment also recorded an impressive growth of 42 per cent compared to last quarter. Trading in DGCX’s G6 currency portfolio saw a significant jump in third quarter, registering a 71 per cent growth compared to third quarter 2014.
Continued concerns over Chinese growth and expectations of an upcoming interest rate hike by the US Federal Reserve have led risk-averse investors to hedge their risks and trade derivatives products on UAE’s leading derivatives bourse.
The Exchange’s trading volumes in third quarter 2015 grew 36 per cent from second quarter, trading 4,142,368 contracts. The Exchange also saw a year-on-year increase of 29 per cent, trading 1,461,264 contracts in September 2015.
The Exchange recorded the highest Open Interest (OI) with 110,145 contracts in 3rd quarter 2015, growing 143 per cent from last quarter.
DGCX also recorded the highest average daily OI of 160,858 contracts in September 2015.
“Open Interest is a key indicator of market confidence in trading DGCX products and we are happy to have achieved so many records in that area,” said DGCX CEO Gaurang Desai.
“DGCX is the only exchange in the Middle East to offer electronic trading across multiple asset classes. This is key as it facilitates capital efficiency and cross pollination among different products — equipping investors with various hedging and risk management instruments to thrive in uncertain times,” he said.
The year-to-date volumes also witnessed an increase of 19 per cent with currency and hydrocarbon segments driving majority of the volumes, up by 22 per cent and 58 per cent respectively.
“Looking ahead to the next quarter, our focus will primarily be on two areas — deepening our membership pool and diversifying our product offering. While doing so, we want to ensure positive synergies exist between these areas,” Gaurang said.
