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Dubai / WAM
The Dubai Gold & Commodities Exchange (DGCX) on Tuesday announced that it traded 12.73 million contracts in 2020, and recorded a yearly AOI of 220,504 contracts. Open interest refers to total number of outstanding contracts at the end of the trading day and is a strong indicator of an exchange’s success.
Additionally, the best performing product in 2020 was DGCX’s AUD Futures Contract, which traded over 0.26 million contracts, up 4,694% year-on-year (Y-O-Y), with AOI up by over 3.8% over the same period.
Commenting on the year, Les Male, CEO of DGCX, said, “The pandemic presented disruption as well as challenges for many industries on a global scale. Against this backdrop, it is encouraging to note that not only did we keep the market open throughout 2020, but we also extended trading hours for both Indian budget and US elections in response to demand from our members, market participants.
During 2020, the DGCX launched products that performed strongly; the weekly INR-US Dollar (USD) futures contract as well as the launch of three FX rolling futures contracts – Euro (EUR), Pound Sterling (GBP) and Australian Dollar (AUD) against the US Dollar (USD).
Both products continue to display steady growth, which is testament to heightening demand.
“Moreover, we are also proud that we were able to successfully introduce new products that have performed exceptionally well in the marketplace, as well as build on our partnerships, and strengthen our
overall capabilities,” he said.