DGCX Trading Witnessed Notable Surge in Momentum
The DGCX recorded high monthly Average Open Interest (AOI) of 135,828 contracts.
SEATTLE (Scrap Monster): The press release by the Dubai Gold & Commodities Exchange (DGCX) states that trading during the month of October gained notable momentum.
The spike in trading was mainly on account of increased trading activity in the exchange’s Indian Rupee (INR) suite. The weekly INR-US Dollar (USD) Futures Contract reported strong trading activity, registering year-on-year growth in average daily volume (ADV) growth of 119%. Also, the Mini INR Futures Contracts recorded ADV growth of 85.21%, compared to the same month a year before.
The WTI Futures Contracts witnessed a year-on-year ADV growth of 44.73% in October this year. The exchange’s precious metals portfolio continued to witness strong activity, with Gold Futures Contract recording ADV growth of 32.62% over the prior year. The DGCX recorded high monthly Average Open Interest (AOI) of 135,828 contracts.
Les Male, CEO, DGCX said that the exchange enjoyed a strong month of trading in terms of increased volumes and value. It registered heightened interest in INR currency and precious metals trading portfolios during the month. The buoyant sentiment in oil prices led to strong performance by WTI Futures Contract. The exchange has several product launches in the pipeline, which will be announced in the upcoming months.
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