The Dubai Gold and Commodities Exchange (DGCX) has just released its quarterly volumes report and the results is a record-breaking performance. The exchange has registered its best quarter since inception with over 7.98 million contracts traded in the third quarter of 2019, with over 2.37 million contracts traded in September, valued at USD 41 billion.
DGCX also recorded a monthly Average Open Interest (AOI) of 410,847 contracts in September, its highest AOI since September 2016. Average Daily Volumes (ADV) in September reached 112,988 per day, up 20% year-on-year (Y-O-Y).
Last month’s success was primarily driven by the DGCX’s Indian Rupee (INR) product suite.
The exchange also recorded a sharp uptake in its Energy portfolio last month, with Brent Crude Oil Futures and West Texas Intermediary (WTI) Futures recording YoY growth of 154% and 121% respectively.
Les Male, CEO of DGCX, commented:
DGCX’s recent record volume growth and open interest records reflect the strength and depth of our offerings, and increased investor confidence in the Exchange. Last month’s achievements were driven by ongoing geo-political instability, including continued uncertainty surrounding Brexit and the US and China trade war.
Moving into the last quarter of the year, we will continue to focus on growing our membership base and expanding our footprint, and we are optimistic that we will keep our momentum going, enabling an increasing number of investors to hedge their risks during periods of volatility.