Dubai: Year-to-date (YTD) trading volumes on the Dubai Gold and Commodities Exchange (DGCX) crossed 6 million contracts in April 2016, growing 45 per cent over the same period last year, whilst maintaining a steady Average Daily Open Interest of 109,487 contracts.
Growth was primarily driven by DGCX’s currency segment, which saw a substantial increase of 43 per cent compared to the same period last year trading 5,740,764 contracts on a YTD basis. The G6 currency pair futures saw highs of 122,109 contracts with Euro and Pound futures leading the way with a growth of 190 per cent and 154 per cent respectively. Among the emerging market currencies, South African Rand futures demonstrated a steady growth of 47 per cent over same period last year. Indian Rupee options also saw brisk trading this year with 96,940 contracts traded, up 220.7 per cent from the same period last year.
The month of April saw the Exchange setting several records especially in relation to recently launched products. Chinese Yuan futures recorded the highest monthly volume with 4,245 contracts worth $212 million while the Indian Rupee Quanto recorded the second highest ever Average Daily Volume (ADV) of 27,071 contracts. Volumes in US Single Stock futures were up by 107 per cent as compared to March 2016.
Spot Gold contract continued it growth trajectory attracting local bullion participants with physical delivery of 5,760 ounces, an increase of 38 per cent when compared to last month, similarly ADV in Gold futures witnessed an increase of 39 per cent year-on-year (YOY).
