DGCX breaks record with $53bn in trade in August

DUBAI / WAM

In August, for the first time, the Dubai Gold and Commodities Exchange (DGCX), traded over three million contracts in one month, surpassing its previous record of 2.38 million contracts set in July.
The 3.22 million lots traded and cleared in August were valued at $52.72 billion, also a new record.
The exchange recorded its highest-ever daily volume on August 5, trading over 220,000 contracts, with a notional value of $3.86 billion. The Average Daily Volumes (ADV), last month reached 146,502 per day, up 54.97% year-on-year, (y-o-y).
The best performing asset class in August was the Indian rupee product suite, breaking all previous volume records. The best performer within the product suite was INR Quanto Futures, the index pricing of the Indian Rupee US dollar currency pair, which registered its best month ever, with a total of 1,585,110 contracts traded. The DGCX’s flagship Gold Futures product also witnessed strong interest and participation, trading 58,421 contracts last month, up 274.04% y-o-y.
Regarding the volume of trading, Les Male, CEO of the DGCX, said, “Trading over three million contracts in a month and 220,000 contracts in a single day are significant milestones for the DGCX Group.”