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DGCX closes July on record note.

Summary: Overall volumes for the month touched 1,894,155 contracts with a value of $38.49 billion, a year-on-year increase of 36 per cent

Staff Report

Dubai: The Dubai Gold and Commodities Exchange (DGCX) said it posted a record average open interest (AOI) of 323,477 contracts in July, bringing the AOI for 2018 to an all time high of 304,398 contracts.

The figure represents a 29 per cent increase from 2017.

Overall volumes for the month touched 1,894,155 contracts, with a value of $38.49 billion (Dh141 billion), a year-on-year increase of 36 per cent.

"Following an outstanding first half performance, we had a number of significant achievements in July, ranging from our exceptional Open Interest performance to expanding our collateral basket in partnership with Standard Chartered Bank," Les Male, CEO of DGCX said in a statement.

The best performing asset classes for July were the Shanghai Gold Futures and Chinese Yuan Futures, registering month-on-month (M-O-M) volume growth of 71 per cent and 64 per cent respectively.

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Publication:Gulf News (United Arab Emirates)
Date:Aug 1, 2018
Words:188
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