DGCX records best first half since inception with volumes up 44%.
Summary: The best performing asset classes this year have been the currencies with the Indian Rupee, INR, and the G6 Currency futures most prominent
Dubai Gold and Commodities Exchange, DGCX, has recorded its best first half ever in its 13-year history, trading over 11,300,000 contracts so far in 2018, up 44 per cent year-on-year.
Traded value for the first six months of 2018 breached $250 billion (Dh918 billion) for the first time too. The Exchange's record-breaking performance was sealed following a robust month of trading in June, which saw 2,046,806 contracts traded, up 74 per cent from June 2017. June 2018 traded value reached $42.3 billion.
The best performing asset classes this year have been the currencies with the Indian Rupee, INR, and the G6 Currency futures most prominent. First half INR volumes increased by 22 per cent from last year, driven mainly by increasing hedging appetite in volatile markets. While volumes in G6 futures grew 97 per cent year on year to reach 387,586 contracts. The growth in G6 Currency futures was confirmed in June as the DGCX successfully physically delivered a record $404 million upon the contracts expiry. Other notable performers in 2018 include Dubai India Gold, Shanghai Gold and Chinese Yuan
[c] Al Nisr Publishing LLC 2018. All rights reserved. Provided by SyndiGate Media Inc. ( Syndigate.info ).
|Printer friendly Cite/link Email Feedback|
|Publication:||Gulf News (United Arab Emirates)|
|Date:||Jul 1, 2018|
|Previous Article:||Working abroad loses shine, but Dubai remains bright for migrants.|
|Next Article:||Saudi Arabia's MSCI upgrade to attract $45b, UBS says.|