DUBAI: Daily volumes on the Dubai Gold & Commodities Exchange (DGCX) in February traded 62,844 contracts per day.
Trading activity on the Exchange’s Indian Products remained consistent on the back of increased volatility in Indian markets due to the Union Budget announcement made at the beginning of the month and the ongoing state elections.
The DGCX Indian product suite, particularly the Indian Rupee Options contract recorded notable year-on-year growth of 92 per cent with just under 50,000 lots trading and also recorded the highest monthly Average Open Interest (OI) of 23,275 contracts, signifying increased interest and liquidity. Dubai India Crude Oil futures also registered the highest monthly volume of 5,980 contracts in February 2017. This helped Energy products on DGCX record a combined volume of 17,139 contracts. This highlights that investors and traders have started reacting favorably to the DGCX value proposition in offering global products in Energy, Gold and Currencies under one roof in a capital efficient, cost effective and safe manner.
Gaurang Desai, CEO of DGCX, commented: “Indian Union Budget proposals and the ongoing state assembly elections have stirred volatility in Indian markets.”