DGCX Records Best Ever H1 in Its History; Trade Volumes Leap by 44%

SEATTLE (Scrap Monster): The Dubai Gold and Commodities Exchange (DGCX) recorded the best H1 ever since its inception. The traded volumes during the initial six-month period of the year surged higher significantly, mainly on the back of unprecedented jump in volumes during June 2018.

The DGCX press release stated that over 11.3 million contracts were traded during H1 2018, significantly higher by 44% when matched with the corresponding six-month period in 2017. The Exchange’s best performance in its 13-year history was mainly on account of robust jump in trading volumes in June this year. The trading volumes during the month skyrocketed by 74% over the previous year to total 2.047 million. The value of the trade totaled $42.3 billion in June 2018.

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The Indian Rupee (INR) and the G6 Currency Futures recorded the best performance during the first half of 2018. The INR futures volume was up by 22% from the previous year. Meantime, the G6 futures recorded phenomenal jump in volumes from last year to total 387,586 contracts. The other contributors to year-on-year jump in volumes were Dubai India Gold, Shanghai Gold and Chinese Yuan.

Commenting on the H1 performance, Les Male, CEO, DGCX noted that the exchange achieved spectacular growth and major milestones during H1 2018. Apart from setting new records in overall volume and value of contracts, the Exchange also achieved record Open Interest (OI) levels on several products. Incidentally, the OI witnessed 28% surge over the same period in 2017.

The Exchange had brought significant enhancements to its trading and clearing platform in an attempt to optimize trading experience for customers. It will continue to focus on efforts to tap similar opportunities during H2 2018, Male added.