DGCX Volume Reaches All-Time Daily High of $3.6 Billion

UAE’s leading derivatives bourse, the Dubai Gold and Commodities Exchange (DGCX), has recorded a new daily trading record on Tuesday, July 26, as heightened market 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 boosted trading on the exchange, according to a DGCX statement.

The standout figure shows the highest ever daily volume of 176,645 contracts valued at $3.6 billion. The new record also represents a 17% jump from the previously recorded high set during the previous month when the exchange registered 150,570 contracts on June 24, 2016.

Furthermore, the DGCX recorded an all-time high in daily Open Interest (OI), which amounted to 344,610 contracts valued at $6 billion. Increasing open interest means that new money is flowing into the marketplace.

Earlier this month, Finance Magnates reported about DGXC when trading volumes on the exchange recorded an all-time high, exceeding 9.5 million contracts in the first half of this year. Fueled by the Brexit Brexit Brexit stands for British Exit, or in reference to the United Kingdom’s decision to formally leave the European Union (EU) as declared in a June 23, 2016 referendum. In a more immediate sense, a tight vote and unexpected result helped drive British pound (GBP) to lows that had not been seen in decades.The day following the referendum, former Prime Minister David Cameron resigned from office where he was replaced by Theresa May, who later resigned from office on June 7th, 2019. Active Prime Minis Brexit stands for British Exit, or in reference to the United Kingdom’s decision to formally leave the European Union (EU) as declared in a June 23, 2016 referendum. In a more immediate sense, a tight vote and unexpected result helped drive British pound (GBP) to lows that had not been seen in decades.The day following the referendum, former Prime Minister David Cameron resigned from office where he was replaced by Theresa May, who later resigned from office on June 7th, 2019. Active Prime Minis Read this Term vote and its after effects on the global markets, British pound and euro futures also helped lead ‎the charge, surging 163 percent and 121 percent respectively on a year-to-date basis. ‎

According to Gaurang Desai, founding member and CEO of DGCX, in a recent statement on the metrics: “We are delighted to see the Exchange set this record as it affirms that our market participants are confident with taking positions and managing their risk efficiently and effectively on the DGCX platform, especially when the markets are surrounded by uncertainty influenced by geo-economic developments.”