Dube has established himself as one of the most destructive middle-order batters in the IPL, scoring 350 runs at a 170-plus strike rate
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Dubai - The Dubai Gold and Commodities Exchange (DGCX) witnessed an uptick in trading volumes in key products for the month of August, driven by increased investor interest in Euro Futures, Indian rupee Options and Indian Single Stock Futures.
The exchange said in a statement that Euro futures traded its highest volume since January 2013, showing month-on-month growth of 77 per cent and year-on-year growth of 19 per cent.
Indian Single Stock futures witnessed strong growth too, with volumes growing by 583 per cent compared to the same period last year. With investors looking for protection after a period of low volatility Indian Rupee Options volume surged, leading it to mark year-on-year growth of 40 per cent.
Gaurang Desai, CEO of DGCX, said the increased trading activity in contracts like the Euro and Indian Single Stock futures is an indication that the market participants truly appreciate and are increasingly becoming reliant on wider range of DGCX products.
Looking ahead, the DGCX is looking to launch its Sharia-compliant Spot Gold contract later this year.
"With Dubai already known as the 'City of Gold', the recent developments in global geopolitics and increased volatility in gold has resulted in an amplified appetite to hedge and invest in the product. The upcoming Sharia Spot Gold contract will not only enhance our product offerings, but also meet the varied trading requirements of our customer base within the UAE, Saudi Arabia and the wider GCC region," Gaurang said.
Recently, DGCX, the only regulated gold exchange in the Middle East, announced its plan to launch the region's first Sharia-compliant Spot Gold contract in partnership with a Saudi Arabian conglomerate, Ayedh Dejem Group.
The Exchange also inked a pact with Amanie Advisors which is a leading global consultancy specialising in Islamic Finance. These partnerships are aimed at developing Islamic products for the DGCX marketplace and will mark the Exchange's entry in to the Islamic Finance sector.
waheedabbas@khaleejtimes.com
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