DGCX posts strong interest in G6 currencies, silver futures 99%
dubai — The Dubai Gold and Commodities Exchange (DGCX) continued its strong growth trajectory during October, with its G6 currencies portfolio a standout performer during the month.
The portfolio recorded yearto-date volume growth of 378 per cent, compared to the same period last year. Among the G6 currency pairs, the euro and British pound futures contracts registered the strongest performances, recording an impressive year-on-year average daily volume growth of 67 per cent and 392 per cent, respectively.
Market participants also turned to alternative safe-haven assets last month, with the DGCX registering a spike in trading in its silver futures product, recording a year-to-date volume growth of 99 per cent compared to the same period last year.
The exchange also registered the highest volume, value and open interest in its pound sterling, forex rolling futures product, which has now traded a combined total of 2,142 lots valued at $28 million, since its launch
Year-to-date volume growth recorded in silver futures during October
in July — once again highlighting market participants’ appetite to leverage arbitrage opportunities.
The weekly Indian rupee futures contract registered the second highest trading value since the start of 2020 — recording an average daily volume of 495.
“During October, we recorded strong interest in our currency and precious metal products, that not only reiterated the strength of our offerings, but our ability to enhance market participants’ liquidity and hedge risk,” Les Male, CEO of DGCX, said.
“As the DGCX approaches its 15th anniversary milestone this month, we are well-placed to continue our strong growth trajectory, as well as provide our member base with effective products that help meet their hedging and trading needs.”