UAE Business: DGCX records trade value of $11.6bn during June – Gulf Digital News

UAE Business: DGCX records trade value of $11.6bn during June – Gulf Digital News

Dubai Gold and Commodities Exchange has registered a monthly Average Open Interest (AOI) of 120,960 contracts for the month of June and notional value traded of $11.6 billion.

With the rising global inflation, political instability and stock market volatility, market participants continued to turn to alternative safe-haven assets this month.

The sustained strong performance was partly driven by DGCX’s Gold Futures Contract volumes, which delivered year-to-date (YTD) growth of 194%, with average daily volumes (ADV) 168% higher than June 2021. DGCX’s G6 currencies portfolio also continued its strong performance from the previous month with a combined total of 111,658 lots on a year-to-date basis.

One of the highlights of this month was the Indian single stock futures (SSF) which also grew 532% compared to June 2021. Demand for the Indian Rupee-backed assets showed continued growth, with the DGCX’s Rupee Mini Volume Contract recording a strong year-on-year (YOY) ADV growth of 26%.

In a significantly important strategic development, DGCX launched the listing of its Israeli Shekel Futures Contract in June 2022. The move follows the receipt of a permit from the Israel Securities Authority (ISA) in 2021, enabling qualified Israeli corporations who trade on a proprietary basis to become members of DGCX and use its