DGCX files 89873 contracts a day!
DGCX hits 17,255,556 contracts at the end of
September
Total
volumes on the Dubai Gold & Commodities Exchange (DGCX) this year hit
17,255,556 contracts at the end of September, with yearly Average Daily Volumes
(ADV) at their highest ever, reaching 89,873 contracts per day.
The
best performing asset class in September was the Indian Rupee (INR) product
suite, which saw Rupee Mini Futures record its 2nd highest monthly Average Open
Interest (AOI) of 110,020 contracts, and the Indian Rupee Quanto, which has
traded 3,160,471 contracts year-to-date (Y-T-D), up 51% from 2017.
Trading
in September was also underpinned by the Indian Single Stock Futures (SSF) and
Shanghai Gold Futures (DSGC), which registered Y-T-D volume growth of 195% and
101% respectively.
Les
Male, CEO of DGCX, commented: “The rising popularity of INR trading this month
follows the continued depreciation of the rupee, which has seen investors turn
to more regulated markets to hedge their exposure to the US dollar.
The robust
performance of our Rupee Mini Futures, in particular, is of note, with its
increasing liquidity and depth of market; it is testament to the smaller sized
contract’s ability to enable retail remitters, individual investors and SMEs to
cost-effectively manage their currency risk.”
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