DGCX Trading Volumes Spiked Up to Hit New Record In September

SEATTLE (Scrap Monster): The Average Daily Volumes (ADV) at the Dubai Gold & Commodities Exchange (DGCX) touched the highest level during end-September this year. As of end-September 2018, the contract volumes at the exchange totaled 17.256 million. The yearly average daily volume of 89,873 contracts per day was the highest ever, the DGCX press release noted.

The Indian Rupee (INR) product suite turned out to be the best performing asset class during the previous month. The Rupee Mini Futures recorded its second highest monthly Average Open Interest (AOI) of 110,020 contracts. The trades in Indian Rupee Quanto totaled 3.160 million contracts during the first nine-month period of the year, significantly higher by 51% when compared with the comparable period in 2017. Meantime, the Indian Single Stock Futures (SSF) recorded a year-to-date growth of 195%. Also, Shanghai Gold Futures (DSGC) registered volume growth of 101% over the previous year.

According to Les Male, CEO of DGCX, the continued depreciation of the Indian Rupee in September forced investors to turn their attention to more regulated markets, thereby resulting in record trading activity in INR product suite. Retail participants, individual investors and SMEs showed increased interest in the smaller-sized Rupee Mini Futures contract. It must be noted that DGCX had recorded robust performance in the month of August too.