DGCX registers AOI of over 116,900 contracts in May

PHOTO

The Dubai Gold and Commodities Exchange, the region’s largest commodities exchange in the UAE, said that is registered a monthly Average Open Interest (AOI) of 116,929 contracts for the month of May.

Following recent trends, the DGCX’s precious metals portfolio as well as G6 currencies contracts, continued to lead trading activity on the exchange.

In particular, the DGCX’s Gold Futures Contract as well as its Shari’ah Spot Gold Contract registered strong Year-To-Date (YTD) volume growths of 200% and 359% respectively when compared to the year before.

Additionally, DGCX's G6 Currencies Portfolio traded a combined total of 28,963 lots valued at $1,460 million. Among the currency contracts, the company’s Euro and Pound Future Contracts registered the strongest performances, with an impressive year-on-year (Y-O-Y) Average Daily Volume (ADV) growth 1123% and 1125%

Demand for Indian rupee backed assets also continued during the month, with DGCX’s Rupee Options Contract trading a total of 23,205 lots during the year 2022, valued at $2.5 million.

Les Male, CEO of DGCX, said: “During the month of May, market participants continued to show a preference towards safe-haven assets, as well as our G6 Currencies portfolio, amid continued inflation and market headwinds. This was evident in the strong growth we saw in our Gold Futures and Euro and Pound contracts. We remain well positioned to provide our members with the ability to hedge their risks – and look forward to introducing new products next month.”