DGCX sees inr Quanto and silver future contracts surge during April

Continuing its strong performance during 2021

  
DGCX sees inr Quanto and silver future contracts surge during April

Dubai,: During the month of April, the Dubai Gold and Commodities Exchange (DGCX) registered a monthly Average Open Interest (AOI) of 179,554 contracts.

The DGCX’s Indian Rupee Quanto Futures Contract recorded a year-on-year (Y-O-Y) Average Daily Volume (ADV) growth of 562% during the month, as market participants looked to hedge their risk amid market volatility. Additionally, the DGCX’s new Pakistani Rupee (PKR) Futures Contract – which just launched in the middle of the month, the first of its kind to be traded on a regulated exchange  – traded a combined total of 180 lots valued at USD 2.35 million.

Continuing its strong performance during 2021, the DGCX also saw a spike in its Silver Futures Contract in April, recording a year-to-date (Y-T-D) volume growth of 146%, compared to the same period last year.

Les Male, CEO of DGCX, said:“Last month saw the DGCX Group achieve a number of historic milestones that will position us strongly going forward. Significantly, we obtained a permit from the Israel Securities Authority; enabling qualified Israeli corporations who trade on proprietary basis to become trade members and benefit from our trading services and platform. Following market demand, we also launched the world’s first PKR Future Contract – as well as signed a strategic MoU with Global Islamic Financial Services - to develop and provide Islamic derivatives and commodities for market participants going forward. We are confident that together, these initiatives will strengthen our growth, as well as support us in meeting the growing needs of our member base.”

During April, DGCX received a permit from the Israel Securities Authority, enabling the DGCX to service Israel-based market participants and qualified investors with its diversified global products and services, including its Futures and Options Contracts that cover precious metals, energy, equities and currencies.

The DGCX also signed a strategic Memorandum of Understanding (MoU) with Global Islamic Financial Services (GIFS) to partner on the future development of Islamic derivatives and commodities, as well as promote the DGCX’s Shari’ah Gold Contract, which adheres to Shari’ah principles for the ownership of gold.

Send us your press releases to pressrelease.zawya@refinitiv.com

© Press Release 2021

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.


More From Press Releases