The exchange also noted a solid performance during the month of September.
The Dubai Gold and Commodities Exchange (DGCX) is one of the latest exchanges to report its trading volumes for September, with the derivatives exchange revealing this Tuesday that it had a record-breaking performance during the month.
In particular, DGCX recorded its best quarterly performance since its inception back in 2005, the statement said, with more than 7.98 million contacts traded in the third quarter of this year (July to September).
Not only did the exchange post solid results on a quarterly basis, but it also reported a solid trading volume for September, with more than 2.37 million contracts traded with a value of $41 billion.
During September, DGCX achieved a monthly Average Open Interest (AOI) of 410,847 contracts. This is the exchange’s highest AOI in two years, since September of 2016.
Furthermore, the commodities exchange noted an average daily volume of 112,988 contracts during September. When measuring this against the same period of the previous year, it is higher by 20 percent.
DGCX volumes driven by INR products
According to the statement, this uptick in trading volumes was primarily driven by the exchange’s Indian rupee (INR) product suite, with the INR Quanto Futures contract yet again being the standout performer.
Specifically, during the third quarter of 2019, more than 3.78 million INR Quanto Futures contracts were traded. In September, INR Mini Futures also achieved a strong performance, registering its highest ever monthly AOI of 122,003 contracts.
Speaking on the results, Les Male, CEO of DGCX, commented: “DGCX’s recent record volume growth and open interest records reflect the strength and depth of our offerings, and increased investor confidence in the Exchange. Last month’s achievements were driven by ongoing geo-political instability, including continued uncertainty surrounding Brexit and the US and China trade war."
“Moving into the last quarter of the year, we will continue to focus on growing our membership base and expanding our footprint, and we are optimistic that we will keep our momentum going, enabling an increasing number of investors to hedge their risks during periods of Volatility."
The Dubai Gold and Commodities Exchange (DGCX) is one of the latest exchanges to report its trading volumes for September, with the derivatives exchange revealing this Tuesday that it had a record-breaking performance during the month.
In particular, DGCX recorded its best quarterly performance since its inception back in 2005, the statement said, with more than 7.98 million contacts traded in the third quarter of this year (July to September).
Not only did the exchange post solid results on a quarterly basis, but it also reported a solid trading volume for September, with more than 2.37 million contracts traded with a value of $41 billion.
During September, DGCX achieved a monthly Average Open Interest (AOI) of 410,847 contracts. This is the exchange’s highest AOI in two years, since September of 2016.
Furthermore, the commodities exchange noted an average daily volume of 112,988 contracts during September. When measuring this against the same period of the previous year, it is higher by 20 percent.
DGCX volumes driven by INR products
According to the statement, this uptick in trading volumes was primarily driven by the exchange’s Indian rupee (INR) product suite, with the INR Quanto Futures contract yet again being the standout performer.
Specifically, during the third quarter of 2019, more than 3.78 million INR Quanto Futures contracts were traded. In September, INR Mini Futures also achieved a strong performance, registering its highest ever monthly AOI of 122,003 contracts.
Speaking on the results, Les Male, CEO of DGCX, commented: “DGCX’s recent record volume growth and open interest records reflect the strength and depth of our offerings, and increased investor confidence in the Exchange. Last month’s achievements were driven by ongoing geo-political instability, including continued uncertainty surrounding Brexit and the US and China trade war."
“Moving into the last quarter of the year, we will continue to focus on growing our membership base and expanding our footprint, and we are optimistic that we will keep our momentum going, enabling an increasing number of investors to hedge their risks during periods of Volatility."
Institutional FX Demand Continues to Climb in April
Network, Learn, Grow | FMAS:24
Network, Learn, Grow | FMAS:24
Get ready to mark your calendars for FMAS:24, returning this May! Take a quick glimpse of what awaits at the Sandton Convention Centre in Sandton, South Africa from May 20-22, 2024.
Don't miss out on this 5-second invite packed with energy and urgency!
Secure your free ticket now 🔗 https://events.financemagnates.com/yQx0l?utm_source=youtube&utm_campaign=fmas-is-back&utm_medium=video&RefId=FMAS24+Video+Ad+%5B1%5D
#fmas24 #fmas #fmevents #financeinafrica #traders #investors #affiliates #forexTraders #investmentOpportunities #B2BNetworking #finTech #Innovations #TradingCommunity #BusinessOpportunities #AfricanBusiness #Johannesburg #southafrica
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Get ready to mark your calendars for FMAS:24, returning this May! Take a quick glimpse of what awaits at the Sandton Convention Centre in Sandton, South Africa from May 20-22, 2024.
Don't miss out on this 5-second invite packed with energy and urgency!
Secure your free ticket now 🔗 https://events.financemagnates.com/yQx0l?utm_source=youtube&utm_campaign=fmas-is-back&utm_medium=video&RefId=FMAS24+Video+Ad+%5B1%5D
#fmas24 #fmas #fmevents #financeinafrica #traders #investors #affiliates #forexTraders #investmentOpportunities #B2BNetworking #finTech #Innovations #TradingCommunity #BusinessOpportunities #AfricanBusiness #Johannesburg #southafrica
📣 Stay updated with the latest in finance and trading!
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Here's a sneak peek into the FMAS:24 vibrant atmosphere! Join us at Africa’s premium financial event for a transformative experience that combines the best of finance and technology.
From May 20-22, 2024, the Sandton Convention Centre in Sandton, South Africa, will be the hub for over 3,500 attendees to engage in unparalleled networking opportunities, learn from over 150 industry-leading speakers, and explore innovations from 120+ exhibitors.
Secure your free ticket now 🔗 https://events.financemagnates.com/yQx0l?utm_source=youtube&utm_campaign=fmas-is-back&utm_medium=video&RefId=FMAS24+Video+Ad+%5B1%5D
#fmas24 #fmas #fmevents #financeinafrica #traders #investors #affiliates #forexTraders #investmentOpportunities #B2BNetworking #finTech #Innovations #TradingCommunity #BusinessOpportunities #AfricanBusiness #Johannesburg #southafrica
📣 Stay updated with the latest in finance and trading!
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Don't miss out on our latest videos, interviews, and event coverage. Subscribe to our YouTube channel for more!
Here's a sneak peek into the FMAS:24 vibrant atmosphere! Join us at Africa’s premium financial event for a transformative experience that combines the best of finance and technology.
From May 20-22, 2024, the Sandton Convention Centre in Sandton, South Africa, will be the hub for over 3,500 attendees to engage in unparalleled networking opportunities, learn from over 150 industry-leading speakers, and explore innovations from 120+ exhibitors.
Secure your free ticket now 🔗 https://events.financemagnates.com/yQx0l?utm_source=youtube&utm_campaign=fmas-is-back&utm_medium=video&RefId=FMAS24+Video+Ad+%5B1%5D
#fmas24 #fmas #fmevents #financeinafrica #traders #investors #affiliates #forexTraders #investmentOpportunities #B2BNetworking #finTech #Innovations #TradingCommunity #BusinessOpportunities #AfricanBusiness #Johannesburg #southafrica
📣 Stay updated with the latest in finance and trading!
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Join 3500+ Attendees at FMAS:24 | Africa's Premium Financial Event
Join 3500+ Attendees at FMAS:24 | Africa's Premium Financial Event
Looking to expand your network in #Africa? Join 3500+ attendees at FMAS:24, where online trading, fintech, payments, and crypto meet! Connect with industry leaders and innovators for an unmatched networking experience.
20-22 MAY 2024
Sandton Convention Center, Sandton, South Africa
Register now to secure your spot: https://bit.ly/3JbUpCK
#fmas #fmas24 #fmevents #networking #finance #africa
📣 Stay updated with the latest in finance and trading!
Follow Finance Magnates for news, insights, and event updates across our social media platforms. Connect with us today:
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Looking to expand your network in #Africa? Join 3500+ attendees at FMAS:24, where online trading, fintech, payments, and crypto meet! Connect with industry leaders and innovators for an unmatched networking experience.
20-22 MAY 2024
Sandton Convention Center, Sandton, South Africa
Register now to secure your spot: https://bit.ly/3JbUpCK
#fmas #fmas24 #fmevents #networking #finance #africa
📣 Stay updated with the latest in finance and trading!
Follow Finance Magnates for news, insights, and event updates across our social media platforms. Connect with us today:
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Join 3500+ Attendees at FMAS:24 - Africa's Premium Financial Event
Join 3500+ Attendees at FMAS:24 - Africa's Premium Financial Event
Looking to expand your network in #Africa?
Join 3500+ attendees at FMAS:24, where online trading, fintech, payments, and crypto meet! Connect with industry leaders and innovators for an unmatched networking experience.
20-22 MAY 2024
Sandton Convention Center, Sandton, South Africa
Register now to secure your spot: https://bit.ly/3JbUpCK
#fmas #fmas24 #fmevents #networking #finance #africa
Looking to expand your network in #Africa?
Join 3500+ attendees at FMAS:24, where online trading, fintech, payments, and crypto meet! Connect with industry leaders and innovators for an unmatched networking experience.
20-22 MAY 2024
Sandton Convention Center, Sandton, South Africa
Register now to secure your spot: https://bit.ly/3JbUpCK
#fmas #fmas24 #fmevents #networking #finance #africa
Where the Prop Trading Industry Goes from Here | Finance Magnates Podcast
Where the Prop Trading Industry Goes from Here | Finance Magnates Podcast
Explore the tumultuous world of prop trading in this Finance Magnates podcast episode, featuring insights from Head of Axi Select, Greg Rubin.
We're discussing the challenges and shifts caused by MetaQuotes' pivotal decisions affecting MT4 and MT5 users, and how Axi Select offers a unique, realistic path to professional trading, steering clear of traditional prop firm pitfalls.
Tune in for expert analysis on the future of trading and innovative funding models.
The Axi Select programme is only available to clients of AxiTrader Limited. CFDs carry a high risk of investment loss. In our dealings with you, we will act as a principal counterparty to all of your positions. This content is not available for AU, NZ, EU and UK residents. For more information, refer to our Terms of Service. Standard trading fees apply.
This content is provided solely for general informational purposes and should not be construed as financial product advice or an investment recommendation. It has been prepared without considering your personal circumstances.
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Explore the tumultuous world of prop trading in this Finance Magnates podcast episode, featuring insights from Head of Axi Select, Greg Rubin.
We're discussing the challenges and shifts caused by MetaQuotes' pivotal decisions affecting MT4 and MT5 users, and how Axi Select offers a unique, realistic path to professional trading, steering clear of traditional prop firm pitfalls.
Tune in for expert analysis on the future of trading and innovative funding models.
The Axi Select programme is only available to clients of AxiTrader Limited. CFDs carry a high risk of investment loss. In our dealings with you, we will act as a principal counterparty to all of your positions. This content is not available for AU, NZ, EU and UK residents. For more information, refer to our Terms of Service. Standard trading fees apply.
This content is provided solely for general informational purposes and should not be construed as financial product advice or an investment recommendation. It has been prepared without considering your personal circumstances.
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Follow Finance Magnates for news, insights, and event updates across our social media platforms. Connect with us today:
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