Dubai: Year-to-date (YTD) volumes on the Dubai Gold and Commodities Exchange (DGCX) registered a growth of 11 per cent from the same period last year, with over 7.5 million contracts traded.
The exchange also recorded the highest average monthly Open Interest (OI) in July 2015 with 78,391 contracts, beating the previous high of 59,688 contracts in March 2015, driven by strong performance in emerging markets’ contracts, particularly relating to the newly launched Quanto products.
A key indicator of the exchange’s robust performance was the growth in average daily volumes (ADV) during July, which reached an average of 49,673 contracts a day, recording an increase of 15 per cent over same period last year.
“As we enter the second half of this year on a promising note, our focus remains on introducing more products that are relevant to investors within UAE and larger GCC region, and expanding our member base and reach internationally,” said Gaurang Desai, interim CEO of the DGCX, in a statement.
Volumes in the exchange’s precious metal segment saw new highs with the recent introduction of Indian Gold Quanto futures. The Gold Quanto greatly complements the DGCX’s contract on Gold, allowing investors to gain access to the Indian gold market without being exposed to movements in the USD/INR exchange rate.
