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01 08 2019
Dubai, August 1, 2019: The Dubai Gold and Commodities Exchange (DGCX), the largest and most diversified derivatives exchange in the region, recorded the best monthly performance of its 14 years of existence with volumes of 2,382 million contracts worth more than 39.2 billion US dollars in July 2019, beating its previous record of May 2018 with a trading volume of 2.16 million contracts .
India's rupee futures contract was the strongest in July, posting its best monthly performance since inception, with 1,106,309 traded contracts up 192%. On an annual basis. The gold futures contract, one of the most important products of the DGCX, posted a strong performance last month, taking advantage of its strong performance recorded in June due to the fact that the gold futures market was up. instability of the global economic scene. The volume of transactions on the DGCX reached 61,764 contracts, an increase of 209? On an annual basis.
Commenting on the performance of the exchange in July, Les Mell, CEO of DGCX, said: "The negotiation and settlement of more than 2.38 million contracts in a month is an important achievement for the DGCX and demonstrates our strong momentum and increased attractiveness for investors and traders.With record volumes in July due to continuing geopolitical tensions and uncertainties in the markets, a new British Prime Minister was chosen to a critical moment on the eve of Britain's exit from the European Union and tensions have increased with Iran, on the other hand, and has shown to trade negotiations between the states And China some signs of progress. "
"The Indian rupee has been very impressive this month, Indian rupee futures contracts exceeding the million francs held for the first time in a month," said Mell, adding that "this volume is record because investors continue to seek hedging instruments "New products that meet their growing needs, so they have turned to markets such as the DGCX to meet these requirements. "
Eurozone futures were performing well last month, the second highest open interest rate of 3,683 contracts. Open interest refers to the total number of outstanding or unpaid contracts held by market participants and is a key indicator of sector performance.
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About the DGCX:
The Dubai Gold and Commodities Exchange (DGCX) was created in 2005 as the region's first commodity derivatives exchange and the only one to allow traders to settle their transactions in the Gulf region. DGCX played a leading role in the development of the regional commodities derivatives market. DGCX is a subsidiary of the Dubai Multi Commodities Center (DMCC), a strategic initiative of the Dubai Government, whose mandate is to promote commodity trading throughout the emirate by providing physical and financial infrastructure , the market and the services required. DGCX is a fully electronic currency exchange and derivatives trading system with more than 175 members around the world. It offers forward and option contracts covering the precious metals, energy and currency sectors. For more information, visit www.dgcx.ae
The Dubai Gold and Commodities Exchange (DGCX) also owns the largest multi-badet clearing house in the region, the Dubai Clearing Company (DCCC), which is controlled by the Securities and Commodities Authority (SCA) and recognized as a third party in the region. a third country by the European Securities Commission. (ESMA) with more than 60 exchange chambers in the world. For more information: www.dccc.co.ae
For media inquiries, you can contact
Jonathan Fisher
Weber Shandwick
Tel: +971 (0) 4 445 4222
Email: [email protected]
© Press Release 2019
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