Dubai Gold and Commodities Exchange Posted Robust Trade

SEATTLE (Scrap Monster): The Dubai Gold and Commodities Exchange (DGCX) recorded continued growth momentum during the month of June this year. It further consolidated its position as the leading derivatives exchange in the region.

According to DGCX press release, it registered a monthly Average Open Interest (AOI) of 226,406 contracts. The Silver Futures Contract posted year-to-date volume growth of 115% compared with the corresponding six-month period last year. Also, the newly launched Pakistani Rupee (PKR) Futures Contract saw 854 contracts, valued at $10.95 million, traded during the month.

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Les Male, CEO, DGCX said that the exchange spotted increased interest from market participants to either hedge their exposure or expand their trading opportunities into the Pakistani market. The Silver Futures Contract continued to grow in popularity. The exchange remains focused on offering a wide range of innovative products to its customers in order to manage their risks effectively, Male added.

The exchange had recently signed a Memorandum of Understanding (MoU) with the Financial Markets Regulatory Authority (FMRA) in Sudan, aimed at strengthening bilateral cooperation in gold trading between the UAE and the African nation.