DGCX On Track to Break Records in 2019

SEATTLE (Scrap Monster): The recently published data by the Dubai Gold and Commodities Exchange (DGCX) suggests robust growth in traded contracts during the initial eleven-month period of the current year. The exchange is well on track to break records in 2019.

According to data, the total volumes on the exchange from January to November this year stood in excess of 21.85 million contracts. The traded contracts were valued at over $400 billion. The DGCX traded over 1.54 million contracts during the month of November alone. It recorded 15% surge in Average Open Interest (AOI) in 2019, compared with the previous year.

ALSO READ: DGCX Declares RAKBANK as its New Trade Member

The INR product suite recorded 17% volume growth in Jan-Nov ’19 from the previous year. The AOI was up by 10%. The exchange’s flagship Gold Futures product recorded volume growth and AOI growth by 94% and 452% respectively, compared to the corresponding period last year.

Commenting on the achievement, Les Male, CEO, DGCX commented that the exchange is on track to break the annual volumes record of 22.3 million contracts set in 2018. The exchange is committed to deliver innovative and diversified products to meet the demanding needs of its market participants. Furthermore, DGCX intends to expand its reach to additional markets by enhancing the breadth of its product portfolio, Males added.

DGCX was recently honoured with ‘Exchange of the Year’ award at the FOW Global Investor MENA Awards 2019.