DGCX Records Highest AOI
Highest
contracts in May
since
November 2016
The
Dubai Gold & Commodities Exchange (DGCX) saw a spike in Indian Rupee (INR)
trading last month as the India election came to a close, leading the Exchange
to record a monthly Average Open Interest (AOI) of 406,203 contracts in May,
its highest AOI since November 2016. Ongoing political tensions across Europe
on the back of continued Brexit talks also saw Euro Futures record its highest
monthly Average Open Interest (AOI) with 3,886 contracts. For the month of May,
a total of 1,827,176 contracts were traded, valued at USD 35 billion.
All
three INR contracts performed well last month. INR Quanto Futures, the index
pricing of the Indian Rupee US dollar currency pair, recorded its best month
ever in May, and has now traded over 2 million lots year-to-date, up 28%
year-on-year. Rupee Mini Futures recorded the third highest AOI with 117,390
contracts in May.
Les
Male, CEO of DGCX, commented: “The Open Interest levels we set in May reflect
the robustness of our trading platform, and are clear indications of the
sustainable growth we are experiencing in resident interest and liquidity.
This
comes as no surprise as we push forward with our efforts to provide our market
participants with a wide range of products to effectively manage their risk and
protect themselves during volatile times. Last month was a prime example of
this, as we saw our INR portfolio perform especially well as the India election
came to a close, and our members sought our contracts for hedging and
investment purposes.”
DGCX’s
West Texas Intermediary (WTI) Futures also gained traction in May following
increased volatility in oil markets. The contract recorded month-on-month volume
growth of 90%, and Y-O-Y growth of 74%.
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