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Gold March 05, 2018 03:30:46 PM

DGCX Reported Highest Ever Monthly Volume in its History

Paul Ploumis
ScrapMonster Author
The increased participation in exchange is mainly on account of traders seeking protection to mitigate their risk in the midst of extreme volatility in global financial markets.
DGCX Reported Highest Ever Monthly Volume in its History

SEATTLE (Scrap Monster): The Dubai Gold and Commodities Exchange (DGCX) has recorded phenomenal surge in trading volumes during the month of February. The exchange recorded the best month in its history. The monthly trading volumes surged higher by 67% over the previous year to total 2.098 million contracts. The monthly trade was valued at $47.03 billion.

The Currencies and Precious Metals segments were the best performing product segments in Feb ’18. Among currencies, Indian Rupee and G6 currencies recorded remarkable growth in trading volumes. The Indian Rupee recorded 38% year-on-year growth. The Pound Sterling futures and Australian dollar contracts recorded 72% year-o-year and 150% month-on-month growth respectively. From the Precious Metals segment, Gold Quanto Futures recorded 120% growth when compared with February 2017. Shanghai Gold also set record trading volume and traded value throughout the month.

The increased participation in exchange is mainly on account of traders seeking protection to mitigate their risk in the midst of extreme volatility in global financial markets. The diverse range of products and risk management tools offered by the exchange received widespread acceptance from market participants, noted Les male, CEO, DGCX. He also announced the launch of Sharia-compliant Spot Gold contract with INTL FCStone as the market maker towards end-March this year.

ALSO READ: DGCX Achieved Multiple Milestones in 2017

DGCX had begun 2018 on a positive note by recording its best trading volumes and values in January. The volumes had surged higher by 40% from December 2017. The key products which recorded significant jump in traded volumes were the Indian Rupee, G6 currency pairs and the Indian Single Stock Futures (SSF).

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