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Dubai Gold & Commodities Exchange Q3 volumes rise 36%

DGCX's gold segment registered a substantial growth of 71 per cent from Q2 2015 and 20 per cent from previous Q3 2014, trading 132,862 contracts in Q3 2015.

Dubai: Continued concerns over Chinese growth and expectations of an upcoming interest rate hike by the US Federal Reserve have led risk-averse investors to hedge their risks and trade derivatives products on UAE's leading derivatives bourse, Dubai Gold & Commodities Exchange (DGCX).
The Exchange's trading volumes in Q3 2015 grew 36 per cent from Q2, trading 4,142,368 contracts. The Exchange also saw a year-on-year increase of 29 per cent, trading 1,461,264 contracts in September 2015.
The Exchange recorded the highest Open Interest (OI) with 110,145 contracts in Q3 2015, growing 143 per cent from last quarter. DGCX also recorded the highest average daily OI of 160,858 contracts in September 2015. The highest ever daily OI of 223,787 contacts was achieved on 28 September 2015, surpassing the previous high of 125,066 contracts on August 27, 2015.
Gaurang Desai, CEO of DGCX, said: "Open Interest is a key indicator of market confidence in trading DGCX products and we are happy to have achieved so many records in that area."
DGCX's gold segment registered a substantial growth of 71 per cent from Q2 2015 and 20 per cent from previous Q3 2014, trading 132,862 contracts in Q3 2015. While the Exchange's Indian Rupee portfolio grew 37 per cent from last quarter, reaching 3,887,956 contracts in Q3. DGCX's hydrocarbon segment also recorded an impressive growth of 42 per cent in Q3 compared to last quarter. Trading in DGCX's G6 currency portfolio saw a significant jump in Q3, registering a 71 per cent growth compared to Q3 2014.
Gaurang said: "Global markets endured turbulent times last quarter which made investors realise the significance of using a regulated platform like DGCX to hedge and manage their price exposure, and this is evident from the volume growth witnessed in our gold, currency and energy products. DGCX is the only exchange in the Middle East to offer electronic trading across multiple asset classes."
business@khaleejtimes.com