The Dubai Gold & Commodities Exchange (DGCX) has disclosed its trading volumes for the month ending March 2016 along with its Q1 2016 figures, which secured a healthy YoY growth across both fronts, according to a DGCX statement.
Following the exchange’s upbeat Q4 performance to close out the 2015 year, the DGCX built on the momentum after it secured a new record high of 4.5 million contracts traded for Q1 2016, good for a 37.0% YoY ascension from Q1 2015. This was also reflected in the exchange’s strong average daily volumes (ADV), coming in at 72,306 contracts, or 39% higher YoY from Q1 2015.
TrustedBrokerz: The Source More Traders Are TrustingGo to article >>
In addition, the DGCX continued to see a strong performance in its Indian Rupee Options, soaring higher to 80,935 contracts in Q1 2016. For the quarter, these options have catapulted higher by 217% since the launch of the instrument a little over one year ago, by far its most rapidly growing construct. By extension, the exchange also saw its WTI contracts swell higher by 305.0% YoY, justifying a figure of 37,640 contracts.
According to Gaurang Desai, Chief Executive Officer of DGCX, in a recent statement on the Q1 2016 performance: “Global markets have been witnessing exceptional volatility owing to factors such as consistently low oil prices, economic slowdown across the globe and changes in various exchange rates. This has, however, led investors to adopt a more cautious approach and increasingly make use of exchanges like DGCX that provides effective hedging and risk mitigation mechanisms to ease the financial pressures in times of economic uncertainty.”
March 2016 also saw concordant results with the DGCX’s broader Q1 performance, with its volumes coming in at 1.95 million contracts for the month – this corresponds to a surge of 59.0% YoY from March 2015. Furthermore, DGCX also witnessed an increase in its average Open Interest (OI), disclosing 109,857 contracts in March 2016, or 84.0% higher YoY from March 2015.