DGCX traded 1.37m contracts valued at $ 33b in January |
Gulf Today - 03 February, 2017
The Dubai Gold and Commodities Exchange (DGCX) has traded an aggregate 1.37 million contracts in January, valued at $ 33 billion.
The exchange recorded its highest daily trading volume for 2017 on January 25th with 117,637 contracts, valued at $ 2.9 billion. The British pound and yen futures witnessed a substantial year-on-year growth in volumes, up 87 per cent and 757 per cent respectively.
DGCX gold futures also recorded an impressive increase of 56 per cent with the precious metal witnessing major price fluctuations in the lead up to the Chinese New year.
DGCX’s Indian products particularly, Indian Rupee Options and Quanto contracts, registered strong year-on-year growth of 176 per cent and 127 per cent respectively, reflecting on the positive tone as India and the UAE elevated their strategic partnership.
In addition, investor appetite was strong for DGCX’s Indian Single Stock futures which grew by 29 per cent in comparison to the same period last year. Another currency pairing that saw significant trading appetite was the Chinese Yuan futures, which recorded the highest monthly Average Open Interest of 436 contracts in January 2017.