DGCX Posted Robust Trading Activity in September

SEATTLE (Scrap Monster): The Dubai Gold and Commodities Exchange (DGCX) recorded notable surge in trading activity during the month of September this year. The trading volumes continued to maintain high levels.

In September this year, the monthly Average Open Interest (AOI) totalled 154,629 contracts. The Western Texas Intermediary (WTI) Futures Contract registered Average Daily Volume (ADV) growth of 37% over the previous year. The renewed investor interest as an alternative asset class led to spike in trading activity in DGCX currency portfolio during the month. The G6 currencies portfolio recorded a trade of 1,434 lots valued at around $80 million. The newly launched Pakistani Rupee (PKR) Futures Contract too witnessed continued growth in demand.

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In the precious metals portfolio, Shari’ah Compliant Spot Gold Contract witnessed highest demand, trading 20 lots valued at $1.14 million. The value of block trades amounted to $1.07 billion.

Les Male, CEO, DGCX noted that the exchange looks forward to focus on driving growth by enhancing the strength of its offerings to market participants and expanding into newer markets. It will continue to offer market participants with effective ways to hedge risk, Male added.