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Gold October 02, 2019 09:30:48 AM

DGCX Breaks All-Time Quarterly Volumes Record

Paul Ploumis
ScrapMonster Author
Also, the DGCX Gold Futures product’s average daily volumes recorded 12% month-on-month growth in September this year.

DGCX Breaks All-Time Quarterly Volumes Record

SEATTLE (Scrap Monster): The Dubai Gold and Commodities Exchange (DGCX) reported highest ever quarterly volumes in the Exchange’s history in the third quarter of the year ending on 30th September, 2019.

The press release by the Exchange noted that Q3 ’19 was its best quarter since its inception. A total of over 7.98 million contracts were traded during the quarter, valued at over $133 billion. The monthly trade volume surged higher to total 2.37 million, which were valued at $41 million. DGCX recorded an Average Open Interest (AOI) of almost 411,000 contracts in September this year, reaching the highest level since September 2016. The Average Daily Volumes (ADV) at 112,988 per day, too was up significantly by 20% over the previous year, said the press release.

ALSO READ: DGCX Signs Partnership Agreement with MDX Nepal

The Indian Rupee (INR) product suite continued to spearhead the Exchange’s robust performance. The INR Quanto Futures contract continued to remain as the standout performer in September, trading a total of over 3.78 million contracts. The INR Mini Futures contract too recorded strong performance, registering record AOI of just over 122,000 contracts.

Also, the DGCX Gold Futures product’s average daily volumes recorded 12% month-on-month growth in September this year.

Les Male, CEO, DGCX the record growth reflects the strength and depth of its offerings and the heightened investor confidence in the Exchange. As it moves to the last quarter of the year, DGCX will focus on growing its membership base and expanding its footprint, he added.

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