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Gold September 03, 2019 03:30:29 PM

DGCX Reaches New Milestone Topping 3 Million Contracts

Paul Ploumis
ScrapMonster Author
The Indian Rupee product suite emerged as the best performer, breaking all previous volumes.

DGCX Reaches New Milestone Topping 3 Million Contracts

SEATTLE (Scrap Monster): The Dubai Gold and Commodities Exchange (DGCX) traded over 3 million contracts in August this year, breaking the earlier record of 2.38 million contracts set during the prior month. This is the first time in DGCX’s history that the monthly traded volume of contracts has exceeded the 3 million mark.

According to Exchange press release, it traded and cleared a total of 3.22 million contracts during August this year. The value of these contracts hit an all-time high of $52.72 billion. The exchange traded over 220,000 contracts on August 5th, which itself is the highest ever daily volume recorded by the exchange. The average daily volumes surged higher significantly by almost 55% year-on-year to 146,502 per day.

The Indian Rupee product suite emerged as the best performer, breaking all previous volumes. Within the product suite, INR Quanto Futures registered its best performance ever, with a total of 1,585,110 contracts traded on the exchange. Also, DGCX Gold Futures product traded 58,421 contracts in August, significantly higher by over 274% over the previous year, said the press release.

Les Male, CEO, DGCX noted that trading over three million contracts in a month and 220,000 contracts in a single day are significant milestones for the DGCX Group. It further demonstrates the exchange’s growing marketplace and sustained investor confidence in the Exchange.

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