Dubai Gold & Commodities Exchange (DGCX) has just reported its operating metrics for November 2015, with trading volumes staging a steep rise year on year, fuelled by continued demand for hydrocarbons and Indian Rupee-based products.
Overall trading volumes for November 2015 staged a 41% increase from November 2014, offering the Exchange a good piece of news, as it celebrated its 10th anniversary on November 21, 2015.
Strong Open Interest and diversified growth across various asset classes contributed to the successful performance, with average daily open interest steadying at 96,011 contracts.
The recently launched 100 barrel WTI Mini contract saw a number of records for the contract, as both daily volumes (up 95%) and open interest (up 108% month on month) continued to grow. Indian Rupee Options kept drawing the attention of market participants – a trend which is reflected in the volumes growth of 84% versus October 2015.
Product innovation is pivotal to DGCX’s strategy, with the Exchange planning to launch Spot Gold contracts on December 14, 2015, and also Chinese Yuan Futures on December 18, 2015.
Commenting on the Exchange’s 10th anniversary milestone, CEO of DGCX, Gaurang Desai, said:
“This is a special month for us, not only is it a time to look back and reflect upon the many achievements, it is also a time to look forward for what will come in the future. We are excited and hope to continue paving the way for the development of markets in UAE, in GCC and globally.”