Trading volumes on the Dubai Gold & Commodities Exchange (DGCX) witnessed a new daily trading record on Tuesday July 26, leading the Exchange to record its highest ever daily volume of 176,645 contracts valued at USD $3.6 billion.
The new daily volume record surpassed the previous high of 150,570 contracts registered on June 24, 2016 – by a whopping 17%.
The Exchange also recorded the highest daily Open Interest (OI) of 344,610 contracts valued at USD $6 billion.
Gaurang Desai, DGCX
Gaurang Desai, CEO of DGCX, said:
We are delighted to see the Exchange set this record as it affirms that our market participants are confident with taking positions and managing their risk efficiently and effectively on the DGCX platform, especially when the markets are surrounded by uncertainty influenced by geo-economic developments.
Established in 2005, DGCX is the region’s leading derivatives exchange and the only one allowing participants to clear and settle transactions within the Gulf region. The Exchange has played a pioneering role in developing the regional market for derivatives.
DGCX is a subsidiary of Dubai Multi Commodities Centre (DMCC), a strategic initiative of the Government of Dubai, with a mandate to enhance commodity trade flows through the Emirate by providing the appropriate physical, market, financial infrastructure and services required. It is an electronic commodity and currency derivatives exchange with 267 members from across the globe, offering futures and options contracts covering the precious metals, energy and currency sectors.