August volumes up 71% year-on-year, reaching 938,837 contracts
Trading in Currency futures up 179% year-to-date
The Dubai Gold and Commodities Exchange traded 938,837 contracts in August, valued at USD 34.81 billion, registering an increase of 71% compared to the same month last year.
DGCX Year-to-date (YTD) volumes increased by 153% from last year, aggregating to 5,752,486 contracts. This growth was primarily driven by currency futures, trading 5,279,123 contracts - a 179% increase on last year.
DGCX Indian Rupee futures, one of the most actively traded contracts on the exchange, recorded a year-on-year growth of 123% trading 873,740 contracts. Gold futures, the Exchange's flagship product, grew 68% year on year trading 49,219 contracts in August - largely driven by strong retail participation on the back of continued high volatility and following the recent enhancements made to the DGCX Gold Futures contract.
Average daily volume (ADV) reached 42,674 contracts in August, an increase of 79% against the same month last year. Year-to-date average daily volume saw a significant increase of 150% from the same period last year.
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Gary Anderson, Chief Executive Officer, DGCX, said, "Continued robust trading throughout the Holy Month of Ramadan, a typically slow period of business, reflects the growing demand of DGCX products and services in this region. Tight spreads and the ability to generate large trading volumes rapidly and efficiently indicate the continued growth and maturity of our marketplace."
Shayne Heffernan oversees the management of funds for institutions and high net worth individuals.
Shayne Heffernan holds a Ph.D. in Economics and brings with him over 25 years of trading experience in Asia and hands on experience in Venture Capital, he has been involved in several start ups that have seen market capitalization over $500m and 1 that reached a peak market cap of $15b. He has managed and overseen start ups in Mining, Shipping, Technology and Financial Services.Read the Terms of Service