UAE Business: DGCX sees INR and WTI futures gain pace in October – Gulf Digital News

UAE Business: DGCX sees INR and WTI futures gain pace in October – Gulf Digital News

The Dubai Gold and Commodities Exchange (DGCX) Group’s Indian Rupee (INR) suite recorded a spike in trading during October, as market participants looked to hedge their risk amid market volatility.



Notably, the DGCX Group’s Weekly INR-US Dollar (USD) Futures Contract traded strongly, registering a Y-O-Y ADV growth of 119.19%. The DGCX’s Mini INR Futures Contracts also drew a Y-O-Y ADV growth of 85.21%, compared to the same period last year.



There was also sustained interest in the DGCX’s West Texas Intermediary (WTI) Futures Contract during the month, as oil prices soared with US crude hitting a seven-year high during the last week of October. The WTI Futures Contract registered a year-on-year (Y-O-Y) average daily volume (ADV) growth of 44.73%, compared to the same period last year.



Trading across the DGCX’s precious metals portfolio was also strong during the month, with the exchange’s flagship Gold Futures Contract recording a Y-O-Y ADV growth of 32.62% compared to the same period last year.



Once again, DGCX also registered a high monthly average open interest (AOI) of 135,828 contracts in the month of October.



Following the DGCX’s strategic MoU with Victoria Falls Stock Exchange (VFEX) - the DGCX Group’s senior management participated in a four-day workshop in conjunction with