DGCX Continues to See Record-Breaking Volumes in July
- In July this year, the exchange experienced its highest average open interest, surpassing 300,000 contracts.
The Dubai Gold and Commodities Exchange (DGCX) announced on Wednesday that it experienced its highest average open interest (AOI) in July, surpassing 300,000 contracts. This builds upon a record-breaking first half of the year for trading value and volumes.
In July, the 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 saw solid trading results, with an AOI of 323,477 contracts. This impressive result brings the total volume for 2018 to an all-time high of 304,398 contracts which is an increase of 29 percent from 2017.
Due to rising demand for China-centric products, the best performing asset classes for July were the Shanghai Gold Futures and Chinese Yuan Futures. The volume for Shanghai Gold Futures jumped by 71 percent when compared to the same period last year. Chinese Yuan Futures were also up by 64 percent year-on-year.
On the exchange, the Dubai India Gold was also a top performer in July. When compared to July 2017, contracts almost doubled as they increased by 99 percent. For overall volumes, July saw 1,894,155 contracts with a value of $38.49 billion. This is a jump of 36 percent year-on-year.
DGCX records strong G6 Futures volumes
According to the statement, the Indian Rupee (INR) and the G6 Currency Futures (AUD, CAD, CHF, EUR, and GBP against the USD) also performed well in July. Compared to July last year, INR volumes increased by 34 percent and G6 Futures volumes jumped by 80 percent year-to-date.
Les Male
Source: LinkedIn
Commenting on the volumes, Les Male the CEO of DGCX, said: “following an outstanding H1 performance, we had a number of significant achievements in July, ranging from our exceptional Open Interest performance to expanding our collateral basket in partnership with Standard Chartered Bank.
“Open Interest is a true measure of an Exchange’s success, and our records this month are a reflection of the robustness of our Trading Platform Trading Platform In the FX space, a currency trading platform is a software provided by brokers to their respective client base, garnering access as traders in the broader market. Most commonly, this reflects an online interface or mobile app, complete with tools for order processing.Every broker needs one or more trading platforms to accommodate the needs of different clients. Being the backbone of the company’s offering, a trading platform provides clients with quotes, a selection of instruments to trade, real In the FX space, a currency trading platform is a software provided by brokers to their respective client base, garnering access as traders in the broader market. Most commonly, this reflects an online interface or mobile app, complete with tools for order processing.Every broker needs one or more trading platforms to accommodate the needs of different clients. Being the backbone of the company’s offering, a trading platform provides clients with quotes, a selection of instruments to trade, real Read this Term. We are delighted to have entered the second half of the year so positively, and our focus over the next few months will be to introduce more innovative products and expand our member base both locally and internationally.”
The Dubai Gold and Commodities Exchange (DGCX) announced on Wednesday that it experienced its highest average open interest (AOI) in July, surpassing 300,000 contracts. This builds upon a record-breaking first half of the year for trading value and volumes.
In July, the 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 saw solid trading results, with an AOI of 323,477 contracts. This impressive result brings the total volume for 2018 to an all-time high of 304,398 contracts which is an increase of 29 percent from 2017.
Due to rising demand for China-centric products, the best performing asset classes for July were the Shanghai Gold Futures and Chinese Yuan Futures. The volume for Shanghai Gold Futures jumped by 71 percent when compared to the same period last year. Chinese Yuan Futures were also up by 64 percent year-on-year.
On the exchange, the Dubai India Gold was also a top performer in July. When compared to July 2017, contracts almost doubled as they increased by 99 percent. For overall volumes, July saw 1,894,155 contracts with a value of $38.49 billion. This is a jump of 36 percent year-on-year.
DGCX records strong G6 Futures volumes
According to the statement, the Indian Rupee (INR) and the G6 Currency Futures (AUD, CAD, CHF, EUR, and GBP against the USD) also performed well in July. Compared to July last year, INR volumes increased by 34 percent and G6 Futures volumes jumped by 80 percent year-to-date.
Les Male
Source: LinkedIn
Commenting on the volumes, Les Male the CEO of DGCX, said: “following an outstanding H1 performance, we had a number of significant achievements in July, ranging from our exceptional Open Interest performance to expanding our collateral basket in partnership with Standard Chartered Bank.
“Open Interest is a true measure of an Exchange’s success, and our records this month are a reflection of the robustness of our Trading Platform Trading Platform In the FX space, a currency trading platform is a software provided by brokers to their respective client base, garnering access as traders in the broader market. Most commonly, this reflects an online interface or mobile app, complete with tools for order processing.Every broker needs one or more trading platforms to accommodate the needs of different clients. Being the backbone of the company’s offering, a trading platform provides clients with quotes, a selection of instruments to trade, real In the FX space, a currency trading platform is a software provided by brokers to their respective client base, garnering access as traders in the broader market. Most commonly, this reflects an online interface or mobile app, complete with tools for order processing.Every broker needs one or more trading platforms to accommodate the needs of different clients. Being the backbone of the company’s offering, a trading platform provides clients with quotes, a selection of instruments to trade, real Read this Term. We are delighted to have entered the second half of the year so positively, and our focus over the next few months will be to introduce more innovative products and expand our member base both locally and internationally.”