DGCX Announces March Volumes: First Quarter Trading Surpassed 3 Million Contracts
- The Dubai Gold & Commodities Exchange announced overall volumes rising by 2% from February, however it highlighted that Gold trading increased by 32% and WTI crude oil futures by 114% over last year's figures.
The Dubai Gold and Commodities Exchange Exchange An exchange is known as a marketplace that supports the trading of derivatives, commodities, securities, and other financial instruments.Generally, an exchange is accessible through a digital platform or sometimes at a tangible address where investors organize to perform trading. Among the chief responsibilities of an exchange would be to uphold honest and fair-trading practices. These are instrumental in making sure that the distribution of supported security rates on that exchange are effectiv An exchange is known as a marketplace that supports the trading of derivatives, commodities, securities, and other financial instruments.Generally, an exchange is accessible through a digital platform or sometimes at a tangible address where investors organize to perform trading. Among the chief responsibilities of an exchange would be to uphold honest and fair-trading practices. These are instrumental in making sure that the distribution of supported security rates on that exchange are effectiv Read this Term has released its monthly metrics for March in a press release on its website. Monthly figures have increased by 2% over February to 1,023,410 contracts, which are valued at $30.15 billion. First quarter volumes have crossed the three million contracts mark.
The main highlights when the figures are broken down by assets are related to DGCX's commodities futures figures. Gold trading has increased by 32%, while WTI crude oil contracts have spiked higher by 114% on a year-on-year basis. Gold trading volumes are therefore at their highest level in 12 months, which is not a big surprise, considering the asset's increased Volatility Volatility In finance, volatility refers to the amount of change in the rate of a financial instrument, such as commodities, currencies, stocks, over a given time period. Essentially, volatility describes the nature of an instrument’s fluctuation; a highly volatile security equates to large fluctuations in price, and a low volatile security equates to timid fluctuations in price. Volatility is an important statistical indicator used by financial traders to assist them in developing trading systems. Traders In finance, volatility refers to the amount of change in the rate of a financial instrument, such as commodities, currencies, stocks, over a given time period. Essentially, volatility describes the nature of an instrument’s fluctuation; a highly volatile security equates to large fluctuations in price, and a low volatile security equates to timid fluctuations in price. Volatility is an important statistical indicator used by financial traders to assist them in developing trading systems. Traders Read this Term that accompanied the geopolitical tensions that were triggered in the past couple of months.
On the FX front the Euro and the Indian Rupee Mini contracts have traded in March at their second highest Average Daily Open Interest totalling 1,806 (up by 66% year-on-year) and 6,016 contracts.
The CEO of the DGCX, Gary Anderson has highlighted that the exchange plans to launch new products: "the Exchange's flagship contract provides an effective hedging mechanism that is particularly valuable to gold markets in Asian hubs like Singapore, which have substantial gold trading links with Dubai. We will also launch a Spot Gold contract in June this year which will complement our existing gold futures to create a larger gold ecosystem in Dubai. Once launched, we believe the DGCX Spot Gold contract will add significant value to local physical market participants since it fills the gap for a physically delivered contract."
The Dubai Gold and Commodities Exchange Exchange An exchange is known as a marketplace that supports the trading of derivatives, commodities, securities, and other financial instruments.Generally, an exchange is accessible through a digital platform or sometimes at a tangible address where investors organize to perform trading. Among the chief responsibilities of an exchange would be to uphold honest and fair-trading practices. These are instrumental in making sure that the distribution of supported security rates on that exchange are effectiv An exchange is known as a marketplace that supports the trading of derivatives, commodities, securities, and other financial instruments.Generally, an exchange is accessible through a digital platform or sometimes at a tangible address where investors organize to perform trading. Among the chief responsibilities of an exchange would be to uphold honest and fair-trading practices. These are instrumental in making sure that the distribution of supported security rates on that exchange are effectiv Read this Term has released its monthly metrics for March in a press release on its website. Monthly figures have increased by 2% over February to 1,023,410 contracts, which are valued at $30.15 billion. First quarter volumes have crossed the three million contracts mark.
The main highlights when the figures are broken down by assets are related to DGCX's commodities futures figures. Gold trading has increased by 32%, while WTI crude oil contracts have spiked higher by 114% on a year-on-year basis. Gold trading volumes are therefore at their highest level in 12 months, which is not a big surprise, considering the asset's increased Volatility Volatility In finance, volatility refers to the amount of change in the rate of a financial instrument, such as commodities, currencies, stocks, over a given time period. Essentially, volatility describes the nature of an instrument’s fluctuation; a highly volatile security equates to large fluctuations in price, and a low volatile security equates to timid fluctuations in price. Volatility is an important statistical indicator used by financial traders to assist them in developing trading systems. Traders In finance, volatility refers to the amount of change in the rate of a financial instrument, such as commodities, currencies, stocks, over a given time period. Essentially, volatility describes the nature of an instrument’s fluctuation; a highly volatile security equates to large fluctuations in price, and a low volatile security equates to timid fluctuations in price. Volatility is an important statistical indicator used by financial traders to assist them in developing trading systems. Traders Read this Term that accompanied the geopolitical tensions that were triggered in the past couple of months.
On the FX front the Euro and the Indian Rupee Mini contracts have traded in March at their second highest Average Daily Open Interest totalling 1,806 (up by 66% year-on-year) and 6,016 contracts.
The CEO of the DGCX, Gary Anderson has highlighted that the exchange plans to launch new products: "the Exchange's flagship contract provides an effective hedging mechanism that is particularly valuable to gold markets in Asian hubs like Singapore, which have substantial gold trading links with Dubai. We will also launch a Spot Gold contract in June this year which will complement our existing gold futures to create a larger gold ecosystem in Dubai. Once launched, we believe the DGCX Spot Gold contract will add significant value to local physical market participants since it fills the gap for a physically delivered contract."