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Gold May 05, 2021 02:10:55 PM

DGCX Accomplished Historic Milestones in April

Paul Ploumis
ScrapMonster Author
In April 2021, it registered a monthly Average Open Interest (AOI) of 179,554 contracts.

DGCX Accomplished Historic Milestones in April

SEATTLE (Scrap Monster): The Dubai Gold and Commodities Exchange (DGCX) achieved a number of significant milestones during the month of April this year.

The exchange launched the world’s first PKR Future Contract, thus becoming the first regulated exchange in the world to launch such a contract. It also signed a strategic Memorandum of Understanding (MoU) with Global Islamic Financial Services (GIFS) - a global Shariah investment, certification and advisory firm to partner on development of Islamic derivatives and commodities and promotion of DGCX’s Shari’ah Gold Contract. Furthermore, DGCX also announced new alliance with the Israel Securities Authority (ISA), allowing it to serve Israel-based market participants and investors.

ALSO READ: DGCX Silver Futures Posted Dramatic Surge in YTD Volumes

In April 2021, it registered a monthly Average Open Interest (AOI) of 179,554 contracts. The Indian Rupee Quanto Futures Contract recorded a year-on-year Average Daily Volume (ADV) growth of 562% during the month. The new PKR Futures Contract traded a combined total of 180 lots valued at USD 2.35 million. Also, the Silver Futures Contract recorded year-to-date volume growth of 146% over the previous year.

Les Male, CEO, DGCX hoped that the new milestones will help the exchange meet the growing needs of its member base.

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