Metals News
DGCX contract volume hits two-year high in August
industry news
Sep 10,2015

By  Paul Ploumis 09 Sep 2015  Last updated at 08:20:11 GMT

The number of traded contracts on Dubai Gold and Commodities Exchange (DGCX) touched two-year highs during August this year.

ABU DHABI (Scrap Monster): Dubai Gold and Commodities Exchange (DGCX) contract volumes reached 1,538,636 contracts in August 2015, recording robust growth of 67% over the previous year. This is the highest number of contracts traded in any month during the past two years. Also, the volumes expanded by 35% when compared with the previous month. The YTD traded volumes on the exchange grew by 18% year-on-year. The value of all contracts traded during the month amounted to $35 billion.

The average daily volumes (ADV) of the exchange during August this year stood at 73,268 contracts a day, almost 47% higher when matched with the ADV during July this year. The average monthly Open Interest (OI) during August this year touched new record of 91,797 contracts, beating the earlier record of 78,391 contracts registered during July this year. The strong performance of the newly launched Quanto products helped to drive OI volumes during the month.

Among currency contracts, the Indian Rupee options contracts witnessed huge volume action with 21,221 contracts traded during the month. This is more than double the contracts traded during the previous month. The Indian Rupee options traded volume during July this year had totaled 9,511. The average daily volume recorded a new high of 1,011 contracts in August.

Meantime, trading in the Indian Rupee Quanto Futures surged higher by 69% from the previous month to total 230,493 contracts in August. The total traded value managed to cross the USD 1.5 billion during the month. The traded volumes of Mini Indian Rupee futures too rose 61% month-on-month to 142,921 contracts.

The Average Daily Volumes on DGCX’s India Gold quanto contract also grew by 30%, trading 671 contracts in August 2015. Also, volumes on DGCX S&P BSE Sensex futures jumped 38% in August, trading 19,023 contracts. According to Gaurang Desai, CEO, DGCX, the exchange has witnessed 20% jump in member participation since January this year.

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