DGCX volume increases 6% year-on-year
Volume on Dubai Gold & Commodities Exchange (DGCX) recorded a year-on-year growth of 6% in September to reach 96,292 contracts.
Valued at US $4.6 billion, the 6% growth in September was largely driven by currency and crude oil futures contracts.
WTI crude oil futures traded 14,400 contracts in September, an increase of 149% on last year. Trading in the GBP/Dollar, Indian Rupee/Dollar and Yen/Dollar futures reached 12,698, 4,927 and 4,012 contracts respectively last month, gathering momentum compared with the same period last year. Total volume for currency futures rose by 85% year-on-year to 27,963 contracts.
On September 30, the value of Indian Rupee/Dollar futures traded on DGCX was US $ 24.41 million despite the Indian public holiday, underscoring the international interest in the contract. DGCX was the only Exchange open for trading Indian Rupee/Dollar futures on September 30. The volume of Indian Rupee futures was 585 contracts. As the only exchange outside of India to offer trading and clearing for Indian Rupee futures business, DGCX is the alternative to the unregulated Non Deliverable Forward (NDF) market.