DGCX Currency Portfolio Recorded Robust Volume Surge

SEATTLE (Scrap Monster): The Dubai Gold and Commodities Exchange (DGCX) reported continued robust growth of its G6 currencies portfolio during May this year, primarily on account of ongoing global economic uncertainty. The exchange continued to provide investors with a wide range of products in order to help them manage risks effectively.

In May 2020, the exchange’s G6 currencies portfolio recorded year-on-year (Y-O-Y) volume growth of 598.98%. Among various G6 currency pairs, Yen contracts registered the strongest year-on-year growth of 588.67% in average daily volumes. Meantime, the Euro and British Pound recorded growth by 516.2% and 336.42% respectively. The G6 currencies portfolio reported year-to-date volume growth of 520.72% in comparison with the corresponding year-to-date period in 2019.

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The total volumes on the exchange during the past month were 0.88 million contracts, which were valued at $20.66 billion. It recorded Average Open Interest (AOI) of 167,297 contracts, DGCX press release said.

Les Male, CEO, DGCX noted that the upward trajectory of G6 currency volumes reflects the strength and depth of the exchange’s offerings. DGCX plans to expand its portfolio of currency products with the introduction of perpetual rolling FC contracts for three currency pairs at the beginning of July this year, he added.