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- Gold trading volumes soars by 52% from January 2016
- WTI Crude Oil recorded a 130% rise in average Open Interest over February 2016
- Single Stocks Futures registers strong participant interest with 80% volume increase
February marked another strong month of trading for the Dubai Gold & Commodities Exchange (DGCX), driven by continued global market volatility and availability of expanded product offering and deepened member community.
Trading volumes on Exchange recorded growth of 42% during the February 2016 as compared to the same period last year while average daily Open Interest rose by 50%.
Launch of 15 Single Stocks Futures (SSF), 10 Indian stocks and 5 US stocks, allowed local trading and investor community to access global stock markets while keeping their money in the UAE. At the same time, it offered global market participants of DGCX an exciting alternative to trade Indian & US equities. Equities segment showed an encouraging trend with a growth of 80% in average daily volume, from 535 contracts in January to 965 in February.
Energy was another key trading segment this month with WTI Futures recording its highest daily average Open Interest of 1,215 contracts, up 130% from January 2016. Gold Futures contract continued to be a consistent performer. Gold recorded average Daily Volumes of 1,700 contracts, an increase of 52% over January 2016. Gold products group Open Interest also grew by 60% over January 2016.
Gaurang Desai, the Chief Executive Officer of DGCX, said: "We are very pleased with the Exchange's positive growth trajectory and continued expansion of our participant community. Our expanded product offering have gained significant traction, especially the newly launched Single Stocks Futures. We strive to remain the Exchange of choice for our members and continue to expand our appeal to investors looking for reliable and safe opportunities to protect their assets."
About DGCX:Established in 2005, DGCX is the region's leading derivatives exchange and the only one allowing participants to clear and settle transactions within the Gulf region. The Exchange has played a pioneering role in developing the regional market for derivatives.
DGCX is a subsidiary of Dubai Multi Commodities Centre (DMCC), a strategic initiative of the Government of Dubai, with a mandate to enhance commodity trade flows through the Emirate by providing the appropriate physical, market, financial infrastructure and services required. It is an electronic commodity and currency derivatives exchange with 267 members from across the globe, offering futures and options contracts covering the precious metals, energy and currency sectors. For more information: www.dgcx.ae
