DGCX average daily volumes jump 47.5% MoM in August 2015


Dubai Gold & Commodities Exchange (DGCX) has just reported its operating metrics for August 2015, with last month continuing a growth trend in activity seen in the previous several months.

Overall trading volumes for the month surged to 1,538,636 contracts, hitting their highest level in two years. The month also registered the highest average monthly Open Interest on record, with 91,797 contracts, beating the previous high by 17%.

  • The monthly trading volumes of 1,538,636 contracts were 35% higher than in July 2015 and 67% higher than in August 2014.
  • Average Daily Volumes (ADV) reached 73,268 contracts in August 2015, up massive 47.5% from July 2015 levels.
  • An all-time high Open Interest of 125,066 contracts was achieved on August 27, 2015.
  • DGCX attributed the significant rise in volumes on DGCX’s Emerging Markets currency products to the recent volatility in FX markets.
  • The Indian Rupee options volumes reached 21,221 contracts traded in August, in comparison to 9,511 contracts traded in July 2015. The Rupee options contract recorded a new high in ADV, trading 1,011 contracts in August.
  • The Indian Rupee Quanto futures traded 230,493 contracts, up 69% from July, crossing the 1.5 billion USD mark in terms of traded value.
  • Volumes in Mini Indian Rupee futures touched 142,921 contracts, growing 61% from previous month.

Gaurang Desai, founding member and newly appointed CEO of DGCX, said:

“Our FX Futures and bullion products are attracting more traders than before as they seek safety in trading and hedging in a well regulated and transparent electronic platform like DGCX. This is validated by the fact that the Exchange has witnessed a 20% increase in member participation since January 2015.”

Let’s also mention that volumes on DGCX S&P BSE Sensex futures jumped 38% in August, trading 19,023 contracts, in comparison to 13,820 contracts in July 2015. The contract also recorded the second highest ADV since August 2014 with 906 contracts, up 51% from last month. This was explained via the recent movements in global stock markets following the devaluation of the Chinese Yuan.

“As uncertainty in global markets looms, market participants are progressively looking at ways to hedge and manage their price exposure. This is where a secure trading platform like DGCX comes into effect as it offers traders and investors with various hedging and risk management instruments which can soften the impact of market volatility,” concluded Gaurang.

To view the official announcement by DGCX, click here.

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DGCX average daily volumes jump 47.5% MoM in August 2015

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