SEATTLE (Scrap Monster): The Dubai Gold and Commodities Exchange (DGCX) announced strong start to 2021, with the total traded value during the month of January this year touching USD 12.68 billion. Also, the exchange recorded average monthly Average Open Interest (AOI) of 155,655 contracts.
According to DGCX press release, the Silver Futures product extended strong performance, posting year-to-date volume growth of 556% compared to 2020. The Euro FX Rolling Futures Contract registered the highest open interest since its launch. It must be noted that the exchange had recently launched a new 12.5 kg physically delivered Daily Gold Futures Contract.
The press release also announced extension of the New Market Participant Scheme, launched in June last year, to until the end of the current year. The scheme will offer up to 75% rebate on trading fees during the initial three months of trading and 50% rebate during fourth to sixth month of trading. Also, a virtual webinar will be hosted on 3rd February, 2021 on trading strategies and opportunities for the INR suite.
Les Male, CEO, DGCX noted that the exchange is delighted to begin the year on a strong note, especially after a challenging 2020. The exchange will continue to offer additional hedging and investment opportunities for its member base and market participants, he added.