Dubai: Against a more stable, but fragile global economy the Dubai Gold and Commodities Exchange (DGCX) continues to provide investors with a wide range of derivative products that allows them to manage their risk effectively. In May, the DGCX built upon the recent standout performance of its G6 currencies portfolio, which recorded year-on-year (Y-O-Y) volume growth of 598.98%. The portfolio has now recorded year-to-date (Y-T-D) volume growth of 520.72% compared to the same period last year.
Among the G6 currency pairs, Euro, British Pound, and Yen Futures contracts registered the strongest performances, recording impressive Y-O-Y ADV growth of 516.2%, 336.42%, and 588.67% respectively.
Les Male, CEO of DGCX, said: “We are seeing continued currency volatility with markets and investors being pulled by two opposing currents; concerns over rising tensions between the US and China, and increasing optimism as lockdown measures ease across the globe. The upward trajectory of the DGCX’s G6 currency volumes reflects the strength and depth of our offerings in today’s uncertain climate and is testament to our efforts to widen investor participation and enhance liquidity.”
The increased trading activity in the DGCX’s G6 currency portfolio comes ahead of its launch of three FX Rolling Futures Contracts at the beginning of July.
“We are excited to further strengthen our value proposition by expanding our portfolio of currency products with FX Rolling contracts – perpetual rolling FX contracts for three currency pairs. We expect these to be particularly beneficial to our institutional investors by enabling them to hedge more efficiently during this period of heightened volatility,” Male added.
Total volumes on the DGCX in May totaled 880,000 contracts, valued at USD 20.66 billion. The DGCX last month also recorded Average Open Interest (AOI) of 167,297 contracts.
-Ends-
About DGCX:
Established in 2005, DGCX is the region’s leading derivatives exchange and the only one allowing global participants to trade, clear and settle transactions within the Gulf region. The Exchange has played a pioneering role in developing the regional market for derivatives and financial infrastructure. DGCX is an electronic commodity and currency derivatives exchange with over 148 members from across the globe, offering futures and options contracts covering the precious metals, energy, equities and currency sectors. DGCX is a subsidiary of DMCC (Dubai Multi Commodities Centre), a Dubai Government Authority for trade, enterprise and commodities. For more information: www.dgcx.ae
DGCX also owns and operates the region’s largest and only multi-asset Clearing House – Dubai Commodities Clearing Corporation (DCCC). DCCC is regulated by the Securities & Commodities Authority (SCA). It is recognised as a licensed Central Clearing-Counterparty (CCP) by SCA and a Third-Country CCP by European Securities Markets Authority (ESMA) with over 50 clearers from across the globe. For more information: www.dccc.co.ae
For further information, please contact:
Jonathan Fisher
Weber Shandwick PR
Tel: +971 (0) 4 445 4222
Email: JFisher@webershandwick.com
© Press Release 2020
Disclaimer: The contents of this press release was provided from an external third party provider. This website is not responsible for, and does not control, such external content. This content is provided on an “as is” and “as available” basis and has not been edited in any way. Neither this website nor our affiliates guarantee the accuracy of or endorse the views or opinions expressed in this press release.
The press release is provided for informational purposes only. The content does not provide tax, legal or investment advice or opinion regarding the suitability, value or profitability of any particular security, portfolio or investment strategy. Neither this website nor our affiliates shall be liable for any errors or inaccuracies in the content, or for any actions taken by you in reliance thereon. You expressly agree that your use of the information within this article is at your sole risk.
To the fullest extent permitted by applicable law, this website, its parent company, its subsidiaries, its affiliates and the respective shareholders, directors, officers, employees, agents, advertisers, content providers and licensors will not be liable (jointly or severally) to you for any direct, indirect, consequential, special, incidental, punitive or exemplary damages, including without limitation, lost profits, lost savings and lost revenues, whether in negligence, tort, contract or any other theory of liability, even if the parties have been advised of the possibility or could have foreseen any such damages.
